OSCE Centre supports training course for financial compliance officers

ISSYK-KUL, Kyrgyzstan, 23 November 2009 - An OSCE Centre-supported five-day seminar for financial compliance officers from Kyrgyzstan's commercial banks aimed at co-ordinating efforts to combat money laundering and terrorism financing started in Issyk-Kul today.

The training course was organized by the Union of Kyrgyz Banks in co-operation with the Kyrgyz Financial Intelligence Service and with support of the OSCE Centre in Bishkek. It brings together 60 compliance officers from the Kyrgyz commercial banks and representatives of banking associations of Central Asia countries.

The curriculum was developed to take recent changes in banking-related legislation into account. The participants will gain practical skills and learn about innovative techniques to detect suspicious banking operations.

"The initiative promotes the public-private partnership in the sphere of anti-money laundering and joint efforts to counter financing of international terrorist operations," said Ambassador Andrew Tesoriere, the Head of the OSCE Centre in Bishkek. "This activity will also enhance the important role of compliance officers in Kyrgyz commercial banks as information links between public and private institutions."

Anvar Abdraev, the President of the Union of Banks of Kyrgyzstan added: "According to the results of a survey conducted this June, 80% of compliance officers in Kyrgyzstan have very limited knowledge, skills and capacity to address complex challenges such as money laundering and terrorism financing. The training course was useful for Kyrgyz compliance officers in terms of both accumulating practical knowledge and exchanging views and experiences with Central Asian colleagues."

The course is a part of the work of the OSCE Centre in Bishkek to strengthen the capacity of government agencies and private establishments in combating money laundering and financing of terrorism.