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 : : Legal Framework
2007-02-19 00:00:00  Print Version



24

On Introducing Amendments and Supplements to the Order of the State Department for Financial Monitoring of Ukraine of April 24, 2003 40

 

Order of the State Committee for Financial Monitoring of Ukraine

of January 16, 2007 6

 

Registered in the Ministry of Justice of Ukraine

on January 29, 2007 75/13342

 

 

 

With the aim to coordinate activity of entities of initial financial monitoring concerning organization of financial monitoring in the area of prevention and counteraction to introduction into legal turnover of proceeds from crime and terrorist financing, following requirements of Articles 5, 13 of the Law of Ukraine On Prevention and Counteraction to Legalization (Laundering) of Proceeds from Crime,

 

 

ORDER:

 

1. Introduce to Requirements to organization of financial monitoring by the entities of initial financial monitoring in the area of prevention and counteraction to introduction into legal turnover of proceeds from crime and terrorist financing, approved by the Order of the State Department of Financial Monitoring of April 24, 2003 40 (further Requirements), registered in the Ministry of Justice of Ukraine on April 29, 2003 337/7658, the following amendments and supplements:

1.1. In paragraph 3 of Requirements:

subparagraph 3.3 to supplement with new abstract of the following context:

Rules shall envisage informing by the entity of state agency, which according to the legislation executes functions of regulation and supervision over them, in case of failure of its branches and other separated subdivisions, which are situated abroad, to take measures for counteraction to legalization (laundering) of proceeds from crime and terrorist financing, defining reasons of failure to execute them.

subparagraph 3.5 to supplement with new abstract of the following context:

description of measures, directed on prevention to possible use of modern technologies in schemes for legalization of proceeds from crime and terrorist financing;

subparagraph 3.6 after words separated subdivisions to supplement with words and plan for conduct of check-ups of the following measures execution.

1.2. In paragraph 4:

subparagraph 4.2 to set forth in the following edition:

4.2. Entity elaborates criteria for assessment of risk for conduct by the client of financial transactions for legalization (laundering) of proceeds from crime (further - criteria). With this aim, criteria for assessment of such risk, presented in the Appendix 1 to the present Requirements, can form the basis.

1.3. In paragraph 5:

to set forth subparagraph 5.4 in the following edition:

Persons identification is carried out on the grounds of submitted original and copies of documents, which are authenticated by notary or enterprise (institution, organization), which issued them;

in first abstract of subparagraph 5.8 the words employee of the entity (separated subdivision), that provides conduct of financial transaction or is complaint for financial monitoring conduct to substitute with the words entity (separated subdivision).

1.4. In paragraph 9:

subparagraph 9.2 after words take part supplement with words in conducting or;

in subparagraph 9.3 to exclude the word All.

 

1.5. To supplement Requirements with appendix of the following context:

Appendix to Requirements

Directed list of criteria for assessment of risk of conduct by the client of transaction for legalization (laundering) of proceeds from crime (in case of necessity are supplemented by the entity independently).

1) Availability of counterparts residents of countries (territories), about which it is known from reliable sources that they:

are not compliant with generally accepted standards in the area of counteraction to legalization (laundering) of proceeds from crime;

do not envisage disclosure and provision of information concerning financial transactions;

do not fulfill recommendations of Financial Action Task Force (FATF);

are countries (territories), where military operations are in place;

are offshore zones;

are countries (territories), which do not take part in international cooperation in the area of prevention and counteraction to legalization (laundering) of proceeds from crime and terrorist financing.

2) In financial transaction takes part a person, which:

is the person, who takes (took) up post, in accordance with which has (had) wide range of powers;

not presenting financial institution, is engaged in money transfers, transactions for payment of cheques with cash, etc.;

carries out external economic transactions;

receives financial assistance from nonresidents or provides financial assistance to nonresidents;

is nonprofit organization;

initiates conducting of financial transaction without indirect contact with subject.

2. Department of interaction and methodological provision of the system of financial monitoring (Podkorytov A. S.) jointly with Legal Department (Matviychuk S.R.) shall provide submission of the present Order for state registration to the Ministry of Justice of Ukraine.

3. Control over execution of the present Order shall be laid on Deputy Head of the State Committee for Financial Monitoring of Ukraine Kirsanov V.M.

 

Head                                                                                               Serhiy HURZHIY

 



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