A new system for evaluating the activities of financial institutions is being introduced in Uzbekistan

In Uzbekistan, a completely new system for assessing the activities of organizations engaged in financial and property-related operations is expected to be introduced. This was reported by Zamin.uz.

The proposed measure aims to combat global threats such as the legalization of proceeds from criminal activities, financing of terrorism, and assistance in the proliferation of weapons of mass destruction. Under the new procedure, the operational processes of each entity operating in this sector will be thoroughly analyzed, and their level of risk will be determined.

According to the developed draft, organizations will be categorized into high, medium, and low risk groups based on a special scoring system. This approach enables supervisory authorities to avoid imposing uniform requirements on all business entities and instead focus primary attention on areas where suspicious transactions are monitored.

The past activities of each organization, the volume of operations carried out, and their degree of legality will be examined separately. The assessment process will not be limited solely to official reports.

It will also take into account statistical data, financial transfers identified as suspicious, information provided by various state agencies, and appeals received from citizens. Furthermore, data from open sources will be analyzed to draw conclusions about which organizations have a higher likelihood of violations.

Such a system will ensure that oversight is targeted and effective. The core essence of the new procedure lies in identifying and eliminating financial system risks in advance.

Situations related to the legalization of criminal proceeds not only harm the economy but also pose a serious threat to national security. Therefore, preventive measures will be intensified in organizations assessed as having high or medium risk.

These measures provide businesses with the opportunity to timely correct shortcomings in their activities and bring internal control into order. As stated in the document, if the situation does not improve after preventive talks and recommendations, the issue of conducting inspections in such organizations will be considered.

Thus, inspections will not be carried out arbitrarily or randomly, but only when there are clear risk factors. However, if signs of extremely serious crimes threatening human life or linked to terrorism are detected, supervisory bodies will have the right to initiate inspections immediately, without waiting for preventive measures.

At the same time, the new system will also protect the interests of law-abiding entrepreneurs. Organizations assessed as having low risk will not be subject to unnecessary interference.

This represents a special guarantee for entities operating within the legal framework, ensuring their freedom to conduct business. In summary, these reforms represent an important step toward increasing the transparency of our country’s financial system and imposing limits on illegal cash flows.