OSCE Centre in Astana supports training seminar on countering money laundering and financing of terrorism

ALMATY, 23 April 2014 – An OSCE-supported training seminar on preventing money laundering and countering the financing of terrorism in the banking sector began today in Almaty.

The three-day event is co-organized by the OSCE Centre in Astana in co-operation with the National Bank of Kazakhstan and the US Embassy with the support of the OSCE Office of Economic and Environmental Activities and the Committee of Financial Monitoring.

Some 80 representatives of all national stakeholders, most notably the Kazakhstan National Bank and 38 second-level banks, reviewed and discussed the best practices and techniques related to preventing money laundering and countering the financing of terrorism. Leading international experts from the OSCE Secretariat, the National Bank of Slovenia, US financial authorities as well as the European Union Counter-terrorism Co-ordinator were among the speakers at the event.

“Money laundering and terrorism-financing crimes are transnational in nature,” said Ambassador Natalia Zarudna, Head of the OSCE Centre in Astana. “Therefore, international co-operation plays a crucial role in combating these threats for the sake of sustainable development, favourable business and investment climate and the rule of law. At the same time, success in this struggle depends, in the first place, on effectiveness of the national policies, practices and the ability to flexibly respond to new challenges in each country.”

Kerimkul Yesbulatov, Deputy Chairman of the Committee for Control and Supervision of the Financial Market and Financial Organizations at the Kazakhstan National Bank, said: “Globalization and financial relations contribute to the emergence of new technologies for faster and easier access to banking services and products but also make the economy more vulnerable to criminal activity. Development of the financial sector is not possible without a strong system to counter money laundering and terrorist financing in the banking sector.”

This event builds on the efforts of the Centre’s multi-year activities in the field of good governance and democratization.