Uzbekistan

Uzbekistan enacted the Law on Fight against Legitimization of Proceeds of Crime and Combating the Terrorism Financing (AML/CFT law) in late 2004 which became effective in January 1, 2006.

According to Article 12 of the AML/CFT law, the law applies only to:

• banks, credit unions and other lending organisations;
• investment funds, depositaries and other types of investment institutions;
• exchange houses;
• insurance companies;
• leasing and other financial institutions;
• post service organisations;
• pawnshops;
• lottery organisations and gaming houses;
• notarial offices (notaries)
  

"The Uzbek authorities - Department of Investigation of Economic Crimes within the Ministry of Internal Affairs and Department on Combating Economic Crimes and Corruption in the Office of the Prosecutor-General are considering amendments to the AML/CFT law." 1

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Sources

Imolin - GPML Central Asia Briefing: Money Laundering and Related Issues in Uzbekistan

Anti-Money Laundering and Countering the Financing of Terrorism Newsletter for Central Asia, UN Office on Drugs and Crime, December 2005 - January 2006

International Narcotics Control Strategy Report, Released by the Bureau for International Narcotics and Law Enforcement Affairs, March 2006

1. Marcus Simpson, “Uzbekistan launches financial intelligence unit”, 25 May, 2006, www.complinet.com.