Identifier
Created
Classification
Origin
09ASHGABAT684
2009-06-03 08:12:00
UNCLASSIFIED//FOR OFFICIAL USE ONLY
Embassy Ashgabat
Cable title:
TURKMENISTAN INTRODUCES NEW ANTI-MONEY
how-toVZCZCXRO9079 PP RUEHAG RUEHAST RUEHBI RUEHCI RUEHDBU RUEHDF RUEHIK RUEHLH RUEHLN RUEHLZ RUEHNEH RUEHPW RUEHROV RUEHSK RUEHSR RUEHVK RUEHYG DE RUEHAH #0684 1540812 ZNR UUUUU ZZH P 030812Z JUN 09 FM AMEMBASSY ASHGABAT TO RUEHC/SECSTATE WASHDC 2897 INFO RUCPDOC/DEPT OF COMMERCE WASHDC PRIORITY RUEATRS/DEPT OF TREASURY WASHDC PRIORITY RUCNCLS/ALL SOUTH AND CENTRAL ASIA COLLECTIVE RUCNCIS/CIS COLLECTIVE RUCNMEM/EU MEMBER STATES COLLECTIVE RUEHAK/AMEMBASSY ANKARA 5250 RUEHBJ/AMEMBASSY BEIJING 2986 RUEHKO/AMEMBASSY TOKYO 2851 RUEHIT/AMCONSUL ISTANBUL 3494 RUCNDT/USMISSION USUN NEW YORK 1017 RHMFIUU/CDR USCENTCOM MACDILL AFB FL RUEHVEN/USMISSION USOSCE 3588 RUEAIIA/CIA WASHDC RHEFDIA/DIA WASHDC RHEHNSC/NSC WASHDC RUEKJCS/SECDEF WASHDC RUEKJCS/JOINT STAFF WASHDC
UNCLAS ASHGABAT 000684
SENSITIVE
SIPDIS
STATE FOR SCA/CEN, EEB
E.O. 12958: N/A
TAGS: EFIN EINV ECON PGOV TX
SUBJECT: TURKMENISTAN INTRODUCES NEW ANTI-MONEY
LAUNDERING AND COUNTER-TERRORISM FINANCING LAW
REF: 08 ASHGABAT 779
UNCLAS ASHGABAT 000684
SENSITIVE
SIPDIS
STATE FOR SCA/CEN, EEB
E.O. 12958: N/A
TAGS: EFIN EINV ECON PGOV TX
SUBJECT: TURKMENISTAN INTRODUCES NEW ANTI-MONEY
LAUNDERING AND COUNTER-TERRORISM FINANCING LAW
REF: 08 ASHGABAT 779
1. (U) Sensitive but unclassified. Not for Internet
publication.
ANTI-MONEY LAUNDERING AND COUNTER-TERRORISM
FINANCING ACT
2. (U) on May 29, State-run Russian-language
newspaper "Neytralniy Turkmenistan" printed the full
text of the newly adopted Anti-Money Laundering and
Counter-Terrorism Financing Law of Turkmenistan.
The Law's main objectives are to prevent and uncover
activities associated with money laundering and
terrorism financing. To achieve these goals, it
provides for the establishment of a new state agency
that is authorized to collect and distribute
information, as well as to conduct analysis of
suspicious transactions and activities. The Law
states that Turkmen and foreign citizens who conduct
financial transactions and activities in
Turkmenistan are subject to the law. In addition,
the Law prohibits state agencies from engaging in
money laundering or terrorism financing. The Anti-
Money Laundering and Counter-Terrorism Financing Law
consists of five sections:
-- Section One: defines terminology used in the Law
in detail;
-- Section Two: stipulates financial measures used
in the combat against money laundering and terrorist
financing;
-- Section Three: lists the responsibilities and
functions of the state agency authorized to address
anti-money laundering; (NOTE: The Law does not
specify which of Turkmenistan's ministries or
agencies will take charge of these matters. END
NOTE)
-- Section Four: stipulates cooperation of the
designated state agency with international
counterparts (NOTE: This section does not list any
international organizations. END NOTE); and
-- Section Five: states when enforcement of the Law
will commence, and attendant responsibilities for
its implementation. (NOTE: The Law will take
effect three months after the official announcement
of its passage, on approximately August 28, 2009.
END NOTE)
3. (SBU) COMMENT: The Turkmen government has been
aware for many months that they needed to make
progress in this area. On February 25, 2009, the
Financial Action Task Force (FATF) named
Turkmenistan -- along with Iran, Pakistan,
Uzbekistan, and Sao Tome and Principe -- as needing
to address deficiencies in anti-money laundering and
combating the financing of terrorism. Local
representatives of the World Bank and European Bank
for Reconstruction and Development have not been
able to review the law fully as of yet. In general,
they are pleased that the law was finally adopted,
but note the need for full implementation in order
for the law to be truly effective (reftel). END
COMMENT.
SENSITIVE
SIPDIS
STATE FOR SCA/CEN, EEB
E.O. 12958: N/A
TAGS: EFIN EINV ECON PGOV TX
SUBJECT: TURKMENISTAN INTRODUCES NEW ANTI-MONEY
LAUNDERING AND COUNTER-TERRORISM FINANCING LAW
REF: 08 ASHGABAT 779
1. (U) Sensitive but unclassified. Not for Internet
publication.
ANTI-MONEY LAUNDERING AND COUNTER-TERRORISM
FINANCING ACT
2. (U) on May 29, State-run Russian-language
newspaper "Neytralniy Turkmenistan" printed the full
text of the newly adopted Anti-Money Laundering and
Counter-Terrorism Financing Law of Turkmenistan.
The Law's main objectives are to prevent and uncover
activities associated with money laundering and
terrorism financing. To achieve these goals, it
provides for the establishment of a new state agency
that is authorized to collect and distribute
information, as well as to conduct analysis of
suspicious transactions and activities. The Law
states that Turkmen and foreign citizens who conduct
financial transactions and activities in
Turkmenistan are subject to the law. In addition,
the Law prohibits state agencies from engaging in
money laundering or terrorism financing. The Anti-
Money Laundering and Counter-Terrorism Financing Law
consists of five sections:
-- Section One: defines terminology used in the Law
in detail;
-- Section Two: stipulates financial measures used
in the combat against money laundering and terrorist
financing;
-- Section Three: lists the responsibilities and
functions of the state agency authorized to address
anti-money laundering; (NOTE: The Law does not
specify which of Turkmenistan's ministries or
agencies will take charge of these matters. END
NOTE)
-- Section Four: stipulates cooperation of the
designated state agency with international
counterparts (NOTE: This section does not list any
international organizations. END NOTE); and
-- Section Five: states when enforcement of the Law
will commence, and attendant responsibilities for
its implementation. (NOTE: The Law will take
effect three months after the official announcement
of its passage, on approximately August 28, 2009.
END NOTE)
3. (SBU) COMMENT: The Turkmen government has been
aware for many months that they needed to make
progress in this area. On February 25, 2009, the
Financial Action Task Force (FATF) named
Turkmenistan -- along with Iran, Pakistan,
Uzbekistan, and Sao Tome and Principe -- as needing
to address deficiencies in anti-money laundering and
combating the financing of terrorism. Local
representatives of the World Bank and European Bank
for Reconstruction and Development have not been
able to review the law fully as of yet. In general,
they are pleased that the law was finally adopted,
but note the need for full implementation in order
for the law to be truly effective (reftel). END
COMMENT.