Financial integrity is an essential component of systemic integrity. The financial integrity toolkit includes measures for preventing money laundering, terrorism financing, the proliferation of weapons of mass destruction, and illicit financial flows, among others. It also enables investors, regulatory bodies, and the public to assess the financial reliability of the economic system and identify potential risks.
Given this, the Corporate Governance Center, in collaboration with the Center for International Private Enterprise (CIPE) and as part of the ”Responding to the Threat of Corrosive Capital in Armenia: Enhancing Coordination between the Public and Private Sectors” project, funded by the UK International Development from the UK government, conducted the ”Money Laundering, Terrorism Financing, and Their Prevention” training.
The training was intended for representatives of Armenian business associations and was conducted in a ”Training of Trainers” format. It aimed to encourage business association representatives to provide training with similar content for their members as well, and to contribute to raising awareness of ML/TF risk management within Armenia’s business landscape.
The training was conducted by Hasmik Khachatryan and Narine Melikyan. To share their experience with the training participants, heads of internal monitoring units from Armenia’s leading commercial banks, specifically Zaruhi Avakimyan, Head of the Financial Monitoring Division at Converse Bank CJSC, and Grigor Veziryan, Head of the Internal Monitoring Division at AraratBank OJSC, were invited as special guest speakers.
The training was followed by a webinar on preventive measures against money laundering and terrorism financing, led by Martin Bothof, an international expert in risk management and compliance.
27 representatives of business associations participated in the training and the webinar.
As part of the project, the “Money Laundering, Terrorism Financing, and The Fight Against Them” guide and the Glossary of Money Laundering and Terrorism Financing Terms have been developed.
