Legislative Chamber of Oliy Majlis of Uzbekistan passed the law on 24 August 2009 and the Senate approved it on 28 August 2009.

The law introduces changes to Criminal Code, Administrative Code, Civil Code and over 10 laws of Uzbekistan. The law introduces changes to the Law on banks and banking activity, the Law on Central Bank, the Law on Banking Security, the Law on exchanges and exchange activity, the Law on notaries, Law on the Bar, Law on insurance activity, the Law on electronic payments and Law on pledge.

The amendments are directed at improving mechanisms on timely exposure of suspicious financial operations of the organizations, carried out with monetary funds or other property. They will also improve inter-agency cooperation of the organizations, involved in fighting money laundering and financing of terrorism.

The law will not interfere to economic activities of the business entities, but should protect them from illegal infringement to their activity.

The law was developed in line with changes and amendments, introduced to the Law “On fighting legalization of incomes, received from crime activity and financing of terrorism” in April 2009.