Uzbekistan — Country Risk Report

Uzbekistan (Asia Pacific • Central Asia). Risk report as of the 19 Jun 2026 FATF plenary.

Moderate country risk, with elevated corruption risk. Uzbekistan's country risk score is 3.8/10, placing it in the moderate-risk band. The principal driver is weak corruption, alongside voice and accountability risk. Uzbekistan is not currently FATF grey- or black-listed. Uzbekistan is not subject to comprehensive country-wide sanctions. Firms should apply additional scrutiny where exposure involves state-linked entities, restricted sectors, sensitive technology, dual-use goods or politically exposed counterparties.

Recommended treatment

Standard due diligence, with enhanced checks for defined risk triggers.

At a glance

• FATF status: Not currently listed (one indicator only; it does not set the overall country risk rating by itself)
• Comprehensive country sanctions: none identified. Targeted sanctions exposure: possible, screen applicable persons, entities and sectors
• Government effectiveness and rule of law: 5.4/10
• Corruption (CPI 2025): 31/100, rank #124 of 182
• Enforcement data: not yet assessed (no RegActions coverage)

Country Risk Score: 3.8/10 (Moderate)

Higher score means higher country risk (global average 4.6). Full information available. Strong data coverage. Enforcement activity and CPI are shown for context but do not change the score.

All three parts of the score are available.

How this score was calculated

• Financial crime controls: 4.3/10 — 50% of this score
• Government effectiveness and rule of law: 5.4/10 — 30% of this score
• International sanctions: 0.0/10 — 20% of this score

International sanctions contributes 0.0 because the complete UN, UK, EU and US review found no direct country-level sanctions programme. People or organisations connected to the country may still appear on sanctions lists.

Principal risk drivers

• Corruption (WGI) — 6.7/10
• Voice & accountability — 6.1/10
• Rule of law & institutions — 5.3/10

Mitigating factors

• Not currently on the FATF grey or black list.
• No comprehensive country-wide sanctions programme.
• Comparatively stronger political stability (3.5/10).
• Risk is concentrated in specific counterparties, sectors and transactions rather than applying uniformly.

Business impact

• Customer onboarding (Medium): Additional ownership and control verification may be required.
• Payments and transactions (Medium): Review transaction purpose, counterparties and geographic routing.
• Trade and export activity (Medium): Screen goods, end users and potential dual-use exposure.
• Corporate clients (Medium): Assess state ownership, government links and political exposure.
• Ongoing monitoring (Medium): Apply alerts for ownership changes, sanctions and geopolitical developments.

Recommended controls

• Verify ultimate beneficial ownership using more than one reliable source.
• Identify state ownership, government influence and politically exposed persons.
• Screen entities, directors and beneficial owners against applicable sanctions lists.
• Apply enhanced review to technology, defence, telecommunications, financial services and dual-use activity.
• Document transaction purpose and source of funds where cross-border structures are complex.
• Escalate unresolved ownership opacity or adverse information to Compliance.

Enhanced due diligence triggers

• State ownership / control
• PEP involvement
• Sensitive / restricted sectors
• Opaque ownership
• Adverse media
• Dual-use goods & technology
• High-risk intermediary routing

FATF status: Not currently listed

Uzbekistan is not on the FATF grey or black list as of the 19 Jun 2026 plenary.

Source details

International sanctions by issuing body

• UN: No
• EU: No
• UK: No
• US: No

No means the complete UN, UK, EU and US review found no direct country-level programme. People or organisations may still appear on sanctions lists.

Government effectiveness and rule of law (World Bank 2024, percentile)

• Government Effectiveness: 49/100
• Regulatory Quality: 47/100
• Rule of Law: 46/100

Regulators and legal framework

FATF network

FATF network via EAG.

• Eurasian Group on Combating Money Laundering and Financing of Terrorism

Last mutual evaluation: 2022 · report

National regulators

Regulator profiles not yet available on RegActions.

FIU: Egmont Group member

Framework signals

• FATF listing: Not currently listed
• International sanctions: no listed programme identified
• Corruption (CPI 2025): 31/100, rank #124 of 182
• Rule of law (WGI): 5.3/10 risk

Sector exposure

• Banking & payments (Low): No FATF listing, rule-of-law governance within normal range
• Trade & export controls (Low): No sanctions programme or FATF black-list constraint identified
• Crypto & virtual assets (Elevated): Weak accountability governance (WGI 6.1/10 risk)
• Real estate & luxury assets (Elevated): Elevated corruption exposure (CPI 31/100)
• State-linked & procurement (Elevated): State-capture exposure (corruption WGI 6.7/10)

Derived from sanctions tier, FATF listing, World Bank WGI governance and CPI; no per-sector dataset is asserted.

Uzbekistan: analysis

Uzbekistan's profile is dominated by corruption risk and voice and accountability, with rule of law and institutions also above the midpoint of the scale. Political stability, is the strongest governance domain. No FATF listing or sanctions apply, so the profile rests on governance alone. Uzbekistan sits in the lower half of the World Bank governance indicators. The CPI ranking reflects meaningful but not acute corruption risk relative to the region.

Outlook

Uzbekistan has undertaken a range of reform initiatives in recent years, and the political stability domain reflects a degree of institutional continuity. Sustained reform momentum in judicial independence and anti-corruption enforcement could ease the risk picture over the medium term. Firms should monitor FATF engagement and reform progress ahead of the October 2026 plenary.

Key watchpoints

• Watch for FATF mutual evaluation outcomes and any plenary listing decisions.
• Track the pace and depth of anti-corruption and judicial reform programmes.
• Monitor the CPI trajectory as an indicator of whether reform rhetoric is translating into measurable change.
• Assess exposure through state-owned enterprises and politically connected counterparties.

Assessment currency

• FATF status: Not listed (as of 19 Jun 2026)
• Sanctions exposure: None identified (as of Jul 2026)
• Governance (WGI): Latest dataset incorporated (as of 2024)
• Corruption (CPI): 31/100 (as of 2025)
• RegActions assessment: Reviewed (as of 19 Jun 2026)

Public evidence layer

FATF action: none. No FATF call-for-action or increased-monitoring status was identified at the latest plenary. This does not establish low risk.

Contextual signals (not scored)

• FATF network membership: FATF regional network: EAG (present, as of 2026-07)
• EU non-cooperative tax jurisdictions: Not listed in Annex I (absent, as of 2026-02-17)
• Egmont Group FIU: FIU membership (present, as of 2026-07-17)
• Beneficial-ownership register: No live register identified in the source (unavailable, as of 2026-07-17)
• Transparency International CPI: 31/100, rank 124 (present, as of 2025)

Evidence freshness

• FATF monitored-jurisdiction status: current; data 2026-06-19
• FATF mutual evaluation and follow-up ratings: current; data 2026-07-31; follow-up 2023-07; base assessment 2022-08
• World Bank governance indicators: current; data 2024
• UN, UK, EU and US sanctions regimes: current; data 2026-08-16

Contextual signals are public evidence only and do not change the immutable v2 score.

Download evidence PDF · CSV · JSON

Regional peer scores

• Myanmar: 9.0/10 (Very high)
• North Korea: 9.0/10 (Very high)
• Afghanistan: 7.0/10 (Very high)
• China: 6.0/10 (High)
• Hong Kong: 6.0/10 (High)
• Laos: 6.0/10 (High)

Source: FATF black & grey lists · World Bank WGI (CC BY 4.0 — World Bank WGI) · TI CPI (CC BY-ND 4.0 — Transparency International, display only)