On June 23, 2022 a three-day internship for employees of supervisory authorities of the Kyrgyz Republic, organized by the ITMCFM and dedicated to gaining practical experience of effective adoption of a risk-based approach to AML/CFT supervision, ended.
During the internship period, representatives of the ITMCFM, Rosfinmonitoring and the Bank of Russia delivered presentations to the participants. The legal framework and infrastructure of internal control and supervisory activities, as well as sources of information for conducting customer due diligence are considered, the capabilities of the Personal Account of a reporting entity and supervisory authority, as well as the capabilities of the remote monitoring system, models and mechanisms of a risk-based approach in supervision of credit and non-credit financial organizations are demonstrated.
The pool of issues included in the internship program is especially relevant for the anti-money laundering system of the Kyrgyz Republic in connection with implementation this year of the technical provision plan by the Russian Federation on behalf of the ITMCFM, including through supervisory activities. When summing up the results, the organization and conduct of sectoral risk assessments in the Kyrgyz Republic, as well as introduction of the anti-money laundering system of the Personal Account of a reporting entity and the remote monitoring system into the work of the AML/CFT stakeholders were discussed.
