IMPROVING THE MECHANISM FOR ADMINISTRATIVE-LEGAL IMPLEMENTATION OF FATF STANDARDS IN THE FIELD OF AML/CFT
Keywords:
money laundering, FATF standards, AML/CFT, administrative and legal mechanism, competence of state bodies, reporting entities, internal control, proportionalityAbstract
This article investigates the mechanism for implementing FATF standards into the administrative and legal regulation system of the Republic of Uzbekistan in the AML/CFT (anti-money laundering and countering the financing of terrorism) sphere. Evaluating UN Security Council Resolution 1617 (2005) and FATF documents as international benchmarks, the study focuses on the competencies of state authorities, obligations of reporting entities, selection of normative-legal forms, proportionality of control measures, and re-evaluation of the effectiveness of adopted norms. Grounding a phased procedure for introducing international standards into national administrative-legal regulation, the paper advances proposals for improvement at the level of legislative acts.
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