US embassy cable - 04YEREVAN2609

UNCLAS YEREVAN 002609 
 
SIPDIS 
 
DEPT FOR INL/JCAMPBELL;INL/CMESHESKE;TREASURY FOR OTA 
 
E.O. 12598: N/A 
TAGS: KCRM, SNAR, EAID, EFIN, AM 
SUBJECT: FINANCIAL INTELLIGENCE UNIT DEVELOPMENT 
ASSISTANCE FOR ARMENIA 
 
REF: YEREVAN 2604 
 
1. On November 24 the National Assembly of Armenia 
adopted the Anti-Money Laundering and Terrorist 
Financing Bill in the first reading (ref).  The 
adoption of the bill sanctions the Central Bank of 
Armenia to proceed with the establishment of the 
Financial Intelligence Unit as proposed in the law. 
MONEVAL's evaluation team has said that creation of an 
FIU in Armenia is a matter of urgency.  By the end of 
the first round of the Armenia assessment in the 
framework of MONEYVAL in February 2005, The Government 
of Armenia is to have passed the Anti-Money Laundering 
Law and to have established the FIU. 
 
2. The Central Bank of Armenia has been requesting 
assistance in establishment of the FIU from Embassy 
Yerevan for several months.  $100,000 of FY2001 Embassy 
Yerevan INL funding was obligated to the Department of 
the Treasury Office of Technical Assistance (OTA) for 
anti-money laundering assistance for Armenia.  No 
assistance has yet been provided.  Now is the time to 
engage with the GOAM to provide expertise in an area 
critical to U.S. policy goals. 
 
3. Post requests that INL work with OTA in Washington 
to arrange for the visit of an FIU expert to Armenia in 
January 2005 to advise the Government of Armenia and to 
assess what additional assistance is required. 
 
EVANS