Regulatory Alerts2020-11-06 | 344-В-4Added
Amendments and Additions to the Internal Control Rules for Combating Money Laundering, Terrorist Financing, and Proliferation Financing in Non-Bank Credit Organizations
The Central Bank of Uzbekistan and the Department for Combating Economic Crimes under the Prosecutor General's Office amend the internal control rules for non-bank credit organizations to align with international standards. The amendments redefine high-ranking foreign officials, third-party organizations, and unincorporated foreign entities, while extending corporate requirements to the latter. Additionally, the rules mandate that overseas branches adhere to the parent organization's stricter internal controls, update beneficial ownership and politically exposed person disclosure requirements, and expand record-keeping obligations to include account files and analysis results.