The representatives of Georgian commercial banks, the National Bank of Georgia and the Financial Monitoring Service of Georgia participate in a two-day training on "Anti money laundering and countering of financing of terrorism (AML/CFT) compliance for commercial banks”. The activity aims at training supervised entities and raising their awareness in the application of AML/CFT requirements, including customer due diligence, risk based approach and transparency of beneficial ownership. 

Following the training, the CoE will provide the beneficiary institutions in Georgia with a Training Handbook on AML/CFT Compliance for Commercial Banks. The Handbook will help commercial banks to better understand relevant international and European AML/CFT standards and good practices, and to take reasonable and appropriate measures related to customers, accounts and transactions.

The training is part of the Council of Europe support to the Georgian government’s effort to build a solid national anti-money laundering/countering financing of terrorism (AML/CFT) framework. The CoE implements this activity within the framework of the CoE/EU Partnership for Good Governance Project 'Combating money laundering and terrorism financing in Georgia'.