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Uzbekistan

Uzbekistan is taking the necessary steps to improve the national AML/CFT system in order to bring it into compliance with the 40+9 FATF Recommendations.

The Financial Intelligence Unit is the Department on Combating Fiscal & Foreign Currency Crimes and Money Laundering under the Uzbekistani General Prosecutor’s Office.

Overview

The Department on Combating Fiscal & Foreign Currency Crimes and Money Laundering under the Uzbekistani General Prosecutor’s Office was established by the July 6th, 2001, Government Resolution.

Originally, its main task was to fight foreign currency-related crimes. Subsequently, the Uzbekistani Cabinet of Ministers Resolution dated Nov. 28th, 2002, transformed it into the Department on Combating Fiscal and Foreign Currency crimes with functions to fight crimes in the foreign exchange sector.

On 21 March, 2006, Government Resolution transformed it into the Department on Combating Fiscal & Foreign Currency Crimes and Money Laundering under the Uzbekistani General Prosecutor’s Office.

The Department on Combating Fiscal & Foreign Currency Crimes and Money Laundering under the Uzbekistani General Prosecutor’s Office is independent specialized law enforcement agency and specially authorized government agency on combating money laundering and terrorist financing. Department resolutions passed within its terms of reference are mandatory for ministries, state committees, agencies, local bodies of state power, businesses, institutions and organizations, as well as officials and citizens.

Goals and tasks:

The main objective of the Department is to organize and conduct operational, analytical and detective efforts aimed at combating fiscal and foreign currency crimes and offences and money laundering, terrorist financing, as well as undertake efforts to recover economic damages caused by such crimes.

Its key tasks are as follows:

• timely detection, deterrence and prevention of fiscal and foreign currency crimes and offences, monitoring the observance of AML/CFT legislation;
• enforcing the state fiscal policy, broadening the taxation base, increasing the coverage of taxpayers and completeness of taxpayer records, detecting and neutralizing possible channels and mechanisms for tax avoidance or evasion, unofficial economy mechanisms, and instances of corruption;
• monitoring the completeness and objectivity of accounting and reporting of foreign currency transactions; preventing the smuggling, illegal importation or exportation of foreign currencies, their illegal circulation, and other foreign exchange offences;
• creating a temporary financial intelligence system; organizing and conducting the monitoring of financial and asset transactions to detect possible channels and mechanisms for money laundering and terrorist financing; efficient reporting to the relevant law enforcement units on detected crimes for purposes of criminal prosecution and administrative sanctions;
• creating and maintaining a single computer database of detected fiscal and foreign exchange crimes and offences, cash or asset transactions subject to mandatory reporting under AML laws, entities and persons engaged in such criminal activities;
• carrying out interaction and information exchange with competent authorities of other countries, international specialized foreign exchange regulators in matters of AML/CFT pursuant to international commitments and treaties of Uzbekistan;
• conducting a wide-reaching information and prevention campaign on issues of the fiscal policy and foreign exchange regulation as well as combating money laundering.

Organization structure:

The Department is headed by Department Chief whose status equals that of Deputy General Prospector and who is appointed by the Uzbekistani President. The Department Chief has three deputies, including a first deputy. The current Department Chief is Mr. Zohkhid Dusanov. First Deputy Chief is Bakhodir Ziliayev.