MONEY LAUNDERING DISCUSSED AT THE GOVERNMENT SESSION

Tert
Oct 30 2009
Armenia

Yesterday, before moving on to the government session agenda, the
Republic of Armenia Prime Minister Tigran Sargsyan referred to an
article printed in local paper 168 Hours.

"Today, 168 Hours published an article on money laundering, and
MP Viktor Dallakyan, in particular, stated that he knows that,
in Armenia, state officials are laundering money. It means that
corresponding structures must respond to this statement. Who are
the high-ranking officials in the Republic of Armenia that are
laundering money? … they particularly paid attention to the draft
law on co-financing public and housing construction projects adopted
by the Republic of Armenia government. The draft law aims to promote
investments in Armenia for short periods during the crisis; that is,
this is a temporary law whose core is if in 2009, 2010, and 2011,
people invest more than 1 billion AMD in the Republic of Armenia,
then we should create favourable conditions for those investors. If
the law brings about risks of corruption, naturally, it is appropriate
for us not to adopt it," Sargsyan stated.

As announced by the press and public relations department of the
Republic of Armenia government, the prime minister noted that it gives
cause for anxiety that the papers, the media, and the National Assembly
MP publicly stated that he is aware of money laundering taking place.

"It means we must respond to the accusation publicly in the same way
he accuses us publicly," Sargsyan stated once more.

The prosecutor general of the Republic of Armenia advised that a
few days ago, the results of the fight against money laundering
by law enforcement and banks were discussed at the RA prosecutor’s
office broadened board meeting. The assessment given to Armenia at
the Committee of Experts on the Evaluation of Anti-Money Laundering
Measures and the Financing of Terrorism (MONEYVAL) session, which
took place in Strasburg a few day,s ago was presented. According to
the evaluation, Armenia is not among the countries that are under
special supervision. The prosecutor general stated that MONEYVAL was
recently in Yerevan, worked here and during their meeting with him,
they especially praised the fight against laundering in the past
few years.

Sargsyan added that not responding to such issues is not right:
they are serious stimuli for the government and the public, since
the country’s governing leadership will pursue the disclosure of
such cases. "But if there are no such cases, then the atmosphere in
Armenia must change," concluded the prime minister.