\"AFBA\": the reform of the Financial Monitoring Service must be in hurry
Non-governmental organization \"The Association of Young Financiers and Businessmen – AFBA” considers that reform concerning the Financial Monitoring Service should be accelerated and the events started in the summer of current year, which refers to reorganization of the service, should be brought to and end on time. The member of organization discussed this issue on the briefing held at \"Pirvelis Press-Club”.
They state, that from 1st of July, 2014, changes in the law of \"prevention of money laundering” have been implemented. According to the second article of the law, the reorganization of the Financial Monitoring Service should have happened in 2 months’ time from its implementation, in particular, Georgian National Bank and Ministry of Finance should have held events to finance the Financial Monitoring Service, Ministry of Economy and Sustainable Development should have been responsible for bestowing the Financial Monitoring Service with necessary property provided by Georgian Legislation, and Georgian government and Minister of Finance should have ensured the acceptance/issue of legal acts.
According to the president of \"AFBA”, Nodar Chichinadze, the stated period of time, 2 months, is already used up and there are no consequences to be seen. Thus, \"AFBA” is addressing the government to accelerate the steps that are needed for reorganization of Financial Monitoring Service, because the service is staffed with the same personnel, who made Financial Monitoring Service politicized and non-effective, and shifted the main goal from the prevention of money laundering and financing the terrorism, to the hostility towards representatives of the opponent political parties.
\"AFBA” has always been supporting the idea of reform in Financial Monitoring Service and holds its ground even today, because during the former government, Financial Monitoring Service was transformed into the political weapon and represented the branch of the Prosecution. \"AFBA”, with the help of media, aired more than once the facts supporting above mentioned.
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We remind you, that in 2012, during the pre-elections period, Financial Monitoring Service was actively involved with the control of opposing parties and according to their supplied information; Prosecution was sequestering bank accounts of individuals.
\"In addition, we would like to remind you the arrest of Jewish businessman in Turkey by Georgian law enforcers in 2010. The deputy chief of Financial Monitoring Service, Gongliashvili, was taking part in this operation, which Prosecution involved in operative investigation, as baking-financial system’s consultant - specialist and as a translator. In fact, the deputy chief of Financial Monitoring Service became the agent of Prosecution” – states Nodar Chichinadze.
In addition, \"AFBA” considers that Financial Monitoring Service has never really been in depended and apolitical. Moreover, neither its work has been effective or productive. IMF report of 3rd of July, 2012 supports the above mentioned. Influential international financial institution points to lack of agency cooperation and coordination in regards of Financial Monitoring Service (1357 and 1371 articles), as well as emphasizes the lack of analytical functions of Financial Monitoring Service (327 and 328 articles)
\"We believe, that stated facts are sufficient enough for reformation of service and this is why young financiers support the changes in the law of \"prevention of money laundering” and consider, that their timely implementation will help to trigger Financial Monitoring Service’s effectiveness, strengthen independency and grow distance with the political purposes” – states Chichinadze.