Head of AML department participated in a panel discussion at the ADB-organized workshop

The 3-day Asian Development Bank (ADB) event on "Beneficial Ownership for Tackling Illicit Financial Flows" took place in Manila, Philippines. The event is a valuable platform for participating countries to share best practices and develop comprehensive legal frameworks to ensure financial integrity and compliance with international standards and recommendations.

It aims to strengthen global efforts to combat tax evasion, corruption, money laundering and terrorism financing by ensuring transparency of beneficial ownership information.

It should be noted that the speaker at the seminar on behalf of the country was the Head of the SARAS Anti-Money Laundering Supervision Department, Natia Gloveli, who provided important information on the country's practices in this area. The panel discussion emphasized the importance of AML/CFT supervision by SARAS. The speaker informed the audience in detail about the essential legal framework and practical aspects required for the effective implementation of AML/CFT policies. She emphasized the need for appropriate legislation and the responsibility of obliged entities in its implementation. He also discussed the common challenges faced by jurisdictions in establishing effective systems for receiving and processing beneficial ownership information and presented practical solutions and strategies, in particular with regard to legal and inter-agency cooperation.

The experiences shared at the event, including from the perspective of specific countries, are an important resource for the countries participating in the workshop, as it was possible to see clear connections in terms of strengthening financial transparency in the country and finding appropriate ways to address problematic issues.