UNIPATH STAFF
Uzbekistan has implemented new regulations to block criminals from laundering money or financing terrorists.
Banks must verify a customer’s identity during foreign currency sales worth more than $4,179 and foreign currency purchases worth more than $1,044. In the past, amounts needed to be 10 times larger to trigger an identity check.
A further regulation requires banks to verify identities of customers accepting electronic transfers of foreign currency or making such transfers of their own.
Since 2005, Uzbekistan has been a member of the Eurasian Group on Combating Money Laundering and Terrorist Financing.
Sources: Central Asia Online, Eurasian Group on Combating Money Laundering and Terrorist Financing, UzReport Information Agency