The Financial Action Task Force (FATF) is an inter-governmental body established in 1989 by the Ministers of its Member jurisdictions. The objectives of the FATF are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system. The FATF is therefore a “policy-making body” which works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas.

At session, the participants considered international cooperation and implementation of new recommendations of the FATF in the legislation of the countries, Jahon news agency reported.

Uzbekistan is fighting against legalaization of criminal income and financing terrorism. Uzbekistan adopted a law “On preventing legalization of criminal income and financing of terrorism, received from criminal activities, and financing terrorism”. The law came into force in 2006. Uzbekistan has joined the Eurasian Group of fighting legalization of criminal incomes and financial terrorisms in 2005.

Today, Uzbekistan created and runs modern system of eliminating of these negative factors and implements new international standards, as well as cooperates with competitive foreign states and international organizations.