Georgian Interagency Council discusses money laundering and terrorism financing

A regular Interagency Council meeting on the development of a strategy and action plan to combat money laundering and terrorism financing was held under the chairmanship of Georgian Finance Minister Nodar Khaduri.

The council members discussed the suggestions and comments that were made by various offices while developing the strategy for 2014-2017, the Finance Ministry told Trend on February 17.

As noted at the meeting, the final version of the strategy with the given suggestions and comments will be submitted to the government on March 1.

The key objective of the strategy is reforming and approach to international standards of the system on prevention and combat against money laundering and terrorism financing, which, in turn, will allow timely detection and prevent legalization of money laundering and terrorism financing.

Interagency Council on the development of strategy and plan to combat money laundering and terrorism financing in Georgia was established on the recommendations of the Committee of Experts on the Evaluation of Anti-Money Laundering Measures of the Council of Europe (MONEYVAL) and the Financial Action Task Force (FATF). (Trend)