Project Summary
| Country |
Turkmenistan |
| Overall project value | EUR 227,334
USD 313,585
AMD 127,202,619 |
| Proportion carried out VXSoft (%) | 100 |
| Number of staff provided | 8 |
| Name of client | Ministry of Finance of Turkmenistan |
| Origin of funding | The Ministry of Finance of RT |
| Name of consortium members, if any | “Taze Dunya” LLC |
| Duration of the project | April 2012 - July 2012 |
Detailed description of project
The objective of the project was to develop legal, regulatory and institutional framework for AML/CTF (Anti Money Laundering and Combating Terrorism Financing), effective intelligence tools to facilitate efficient data processing and building logical matrices during the analysis of the incoming data from financial institutions and other businesses regarding suspicious transactions that might involve money laundering and financing of terrorism.
- Presentation of comments and recommendations on refining the legislative framework,
- Training of 15 employees (specialists and senior staff), responsible for ML/TF in the field of gaming in MF of RoA through on-site trainings and study visits
The VXSoft introduced the SMART VISION PLUS AML software. The system established an IT environment for electronic submission of reports by reporting entities, completely automated the processing of information, opening the cases and etc. As a result of project the Financial Monitoring Unit of Turkmenistan completely automated its procedures and increased the efficiency in controlling the financial and other related transactions completed by reporting entities.
Tasks delivered
- Development of software specifications for programming teams related to electronic reporting forms,
- User acceptance testing,
- Business process analysis,
- Legal review and preparation of normative acts,
- Training
- Organization of Study Tours to Armenia,
Software solutions delivered:
SMART VISION PLUS AML software - Automated case management system functionalities including:
- user and role management – create user- assigned roles and manage permissions for each role or user
- workflow design – design different workflows for each case type; enforce complete step by step processing of case
- document indexing – define case by preferred metadata; search reports and analyze cases according to manually defined and tailored characteristics
- Data visualization and analysis system functionalities including:
- data charting and graphing – to create visual data flows for institutions, accounts, and individuals
- custom reporting – to add new databases; analyze and compare data with the existing ones
- export– to prepare power visuals to support the case substance and export to popular formats to attach them to case folders
- On-line report filling system including;
- development of on-line forms for each type of reporting entity,
- graphical design of the on line portal
- establishment of live data exchange with other relevant Government systems
- data migration from old databases
- Development of software integration methodology and specifications
- Software development installation and testing
- User acceptance testing
- Business process analysis
- Change management strategy development
- Development of training curricula and methodology
- Development of user and administration manuals
- System stress tests
- On-the-job and distance training, and support of different user groups
- Software integration with other e-governance systems
- Data conversion and migration from old databases
