On August 4, attorney members of Association of Law Firms of Georgia published a guide on “Preventive measures against money laundering”. Cooperation with the European Union on money laundering and terrorist financing issues in one of the state’s obligations under the Association Agreement signed between Georgia and EU on 27 June 2014.
The Association Agreement obliges the state to take appropriate measures in addressing investigating money laundering and terrorist financing. The Law of Georgia on Facilitating the Prevention of Illicit Income Legalization applies to lawyers as well. However, in most cases, lawyers do not have information about their obligations under the money laundering regulations.
This guide allows readers to compare money laundering regulations with international standards and informs lawyers about the performance of the legal requirements in the field of money laundering.
The guide has been developed as a result of active cooperation with the Financial Monitoring Service of Georgia and includes recommendations.
The Association of Law Firms of Georgia developed the guide within the framework of the project – “Improvement of the State’s Policy in the Field of Money Laundering and Financing of Terrorism”, funded by the Open Society Georgia Foundation
