Uzbekistan Updates AML/CFT Rules for Securities Market

Tashkent, Uzbekistan (UzDaily.uz) — The National Agency for Perspective Projects (NAPP), together with the Department for Combating Economic Crimes under the General Prosecutor's Office, approved a new edition of the Internal Control Rules for Combating the Laundering of Proceeds from Crime, the Financing of Terrorism, and the Financing of the Proliferation of Weapons of Mass Destruction for professional participants in the securities market.

The document was registered on 30 June 2026 under No. 3877 and was developed as part of improving the national system for anti-money laundering and combating the financing of terrorism (AML/CFT). As noted, the changes aim to implement international standards provided by the FATF recommendations and to eliminate identified shortcomings in the national AML/CFT system.

The new edition of the rules provides for improving risk assessment mechanisms, increasing the effectiveness of internal control procedures and customer due diligence, as well as digitalizing certain monitoring processes and information interaction between professional participants in the securities market and authorized state bodies.

The document clarifies and expands the list of terms used. In particular, definitions such as "third party", "level of accuracy", "foreign structure without forming a legal entity", and several others have been introduced.

In addition, supplementary requirements have been established for the application of a risk-oriented approach and a group model when developing internal control rules. Requirements for the information systems of professional market participants have been detailed, including parameters for automated verification, taking into account the risk level of the services and operations provided, as well as specific identification data of the participants.

The rules also establish the obligation of organization management to regularly evaluate the effectiveness of the internal control system.

For professional participants, a mandatory annual submission to the Agency of information regarding the appointed controller is introduced.

Furthermore, document forms for the work of the controller and customer identification have been approved, and the procedure for connecting to the "Personal Account" of the specially authorized state body in the AML/CFT sector has been defined.