The Ministry of Finance of Kyrgyzstan is initiating changes to some decisions of the Cabinet of Ministers in the field of combating the financing of criminal activity and money laundering. The document has been submitted for public discussion.
It is noted that the main goal is to bring certain norms into line with the Law «On combating the financing of criminal activity and money laundering».
The ministry proposes to include the Deputy Prosecutor General of the country (subject to agreement) and the Director of the State Agency for Protection of Personal Data in the commission on issues of combating the financing of criminal activity and money laundering.
It is also proposed to replace the previously used formulations «financing of terrorist activity», «financing of extremist activity», «financing of organized groups or criminal communities» and «financing the proliferation of weapons of mass destruction» with a single concept — «counteracting the financing of criminal activity», which will cover the aforementioned types.
In all relevant documents, the words «terrorist,» «terrorist and extremist,» and «financing terrorist or extremist activity and the proliferation of weapons of mass destruction» will also be replaced by the wording «financing criminal activity.»
A transparency rating of banking institutions is being created. It will be used to implement risk-oriented supervision.
