Subordinate Normative Acts Developed by SARAS on Continuing Education in the Field of Facilitating the Prevention of Money Laundering and Terrorism Financing Entered into Force

Order No. N-8 of the Head of the Service for Accounting, Reporting and Auditing Supervision on the Approval of the Rule for Receiving Continuing Education in the Field of Facilitating the Prevention of Money Laundering and the Financing of Terrorism entered into force. In addition, Order No. N-9 on Amendments to Order No. N-13 of 18 August 2017 of the Head of the Service for Accounting, Reporting and Auditing Supervision on the Approval of the Continuing Education Standard has entered into force.   

Participation in the continuing education programs will help obliged entities to acquire/develop the necessary competence to meet the requirements of the Law of Georgia on Facilitating the Prevention of Money Laundering and the Financing of Terrorism, as well as to learn and analyze the existing local and international practices on issues of prevention of money laundering and financing of terrorism.

The adoption of the Rule is important to the extent that the ever-increasing and changing risks in the area of anti-money laundering and the fight against terrorism financing pose challenges and threats to obliged entities that require them to be informed, prepared, and able to respond quickly and appropriately.