A workshop to discuss with the Georgian national authorities the draft law on “Facilitating the prevention of money laundering and terrorist financing” will take place on 29 March 2018 in Tbilisi.

The workshop follows the submission of a legal opinion by the Council of Europe, through the EU/CoE Partnership for Good Governance project on “Strengthening anti-money laundering institutions in Georgia”, on the draft law on “Facilitating the prevention of money laundering and terrorist financing”.

The legal opinion was prepared in December 2017 upon request of Financial Monitoring Service of Georgia by two Council of Europe experts who analysed the draft law against its compliance with the Financial Action Task Force Recommendations (as revised in 2012), the 4th EU Anti-Money Laundering Directive, Council of Europe Standards and the relevant UN Resolutions.

The workshop will provide a forum for representatives of relevant national institutions and  CoE experts to discuss the identified gaps and the implementation of recommendations provided in the legal opinion for the purpose of further strengthening the draft law in line with international standards.

It will be attended by the representatives of Financial Monitoring Service, AML/CFT Supervisory institutions including National Bank of Georgia, Ministry of Finance, Revenue Service, State Insurance Supervision Agency, Georgian Bar Association, Service for Accounting, Reporting and Auditing Supervision, Chamber of Notary and National Agency of Public Registry, AML/CFT monitoring entities, and other competent authorities including  Ministry of Justice, Prosecutor’s Office, State Security Agency, Parliament, and Chancellery of the Government of Georgia.

The activity is organised within the EU/CoE Partnership for Good Governance Project ‘Strengthening anti-money laundering institutions in Georgia’, implemented since 2015.