Georgia: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism

International Monetary Fund

No 2013/004, IMF Staff Country Reports from International Monetary Fund

Abstract: The Georgian antimoney laundering (AML) and combating the financing of terrorism (CFT) regime has significantly improved since 2007. However, technical deficiencies, poor implementation, and limited resources undermine the effectiveness of the financial intelligence unit (FIU) and AML/CFT supervision. The country has a comprehensive legal framework in place criminalizing both ML and FT as autonomous offenses and no shortcomings have been identified. It has also established a framework to implement the relevant United Nations Security Council Resolutions (UNSCRs).

Keywords: ISCR; CR; CFT law; court order; AML law; beneficial owner; criminal offense; economic activity; central bank; FMS decree; CFT obligation; law of Georgia; electronic money; Anti-money laundering and combating the financing of terrorism (AML/CFT); Legal support in revenue administration; Money laundering; Terrorism financing; Global (search for similar items in EconPapers)
Pages: 467
Date: 2013-01-08
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