EAG and the Mutual Evaluation of Uzbekistan
The Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG) is a regional body operating on the FATF model, uniting the countries of the Eurasian region to develop common standards in the field of AML/CFT.
The EAG coordinates the efforts of its member states in:
- implementing the FATF international standards;
- enhancing the transparency of financial transactions;
- exchanging information on suspicious transactions;
- conducting mutual evaluations — a comprehensive review of the effectiveness of national systems for combating money laundering, terrorism financing, and financing the proliferation of weapons of mass destruction (AML/CFT/CPF).
Uzbekistan has been a full member of the EAG since 2005 and actively participates in the development of methodologies and practical guidelines.
A mutual evaluation is a comprehensive assessment of a country’s AML/CFT system against the FATF international standards. The evaluation process is carried out along two key dimensions:
- Technical compliance — assessing the extent to which national laws, regulations, and supervisory procedures comply with the FATF 40 Recommendations.
- Effectiveness — analyzing how the AML/CFT system operates in practice, including:
- detection and investigation of suspicious transactions;
- supervision of banks, fintech companies, and other entities;
- risk management;
- interagency coordination and international cooperation.
The results of the evaluation affect the country’s reputation, risk profile, and its relations with international banks and investors.
