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2009-01-01 00:00:00  Print Version



On Adoption Procedure for taking the decision by the State Committee for Financial Monitoring of Ukraine on further financial transaction suspension if its participant or beneficiary is a person included to the list of persons related to terrorist activity

Order of the State Committee for Financial Monitoring of Ukraine
April 19, 2006 N 74

Procedure

for taking the decision by the State Committee for Financial Monitoring of Ukraine on further financial transaction suspension if its participant or beneficiary is a person included to the list of persons related to terrorist activity

1. The current Procedure is composed for implementation of Article 121 of the Law of Ukraine On Prevention and Counteraction to Legalization (Laundering) of the Proceeds from Crime.

2. The current Procedure defines the order for taking the decision by the State Committee for Financial Monitoring of Ukraine (further - SCFM of Ukraine) on further financial transaction suspension if its participant or beneficiary is a person included to the list of persons related to terrorist activity.

3. If SCFM of Ukraine receives from entity of initial financial monitoring information on financial transaction the participant or beneficiary of which is a person included to the list of persons related to terrorist activity (further – financial transaction) with notification of its suspension up to two working days, the named information is immediately processed and analyzed in SCFM of Ukraine.

4. Under results of analysis of financial transaction information immediately preparing and submitted for consideration of SCFM expert commission on case referrals consideration prepared for law enforcement agencies submission (further – expert commission) the correspondent materials for making decision on further suspension of such transaction up to five working days.

5. Expert commission immediately considers such materials and takes decision on expediency in further suspension of financial transaction.

6. If the expert commission takes the decision on further suspension of financial transaction, the SCFM at the same day preparing correspondent decision in defined form and submits its copy accompanied with case referrals to correspondent law enforcement authorities.

7. If the expert commission takes the decision on inexpediency of further suspension of financial transaction, the SCFM of Ukraine immediately preparing correspondent decision in defined form and submits its to the entity of initial financial monitoring.

8. The SCFM decision on further suspension of financial transaction and decision on inexpediency of further suspension of financial transaction is signed by the Head of SCFM of Ukraine or its Deputy Head.

9. On adopted decision SCFM of Ukraine informs the bank (branch) which provided information on financial transaction via formulation and submission of correspondent file-decision in procedure defined by normative and legal acts of the National Bank of Ukraine.

To the entity of initial financial monitoring – non banking institution, which submits information to SCFM in electronic form, the file-decision is immediately formulated and submitted by SCFM in electronic form via Internet e-mails. After receiving the file-decision the entity of initial financial monitoring submits to SCFM the file-receipt.

To the entity of initial financial monitoring – non banking financial institution, which do not submit to SCFM information in electronic form, the decision on further suspension of financial transaction or notification on decision for inexpediency of further suspension of financial transaction is submitted in the paper form via registered letter and might be informed to the entity of initial financial monitoring via facsimile or courier or special communication.

10. In case if SCFM receives from the entity of initial monitoring report on suspension of financial transaction after two days term defined by the part one of the Article 121of the Law of Ukraine On Prevention and Counteraction to Legalization (Laundering) of the Proceeds from Crime, the expert commission does not take a decision on further suspension of such financial transaction. At that the expert commission could take a decision on submission of case referrals to law-enforcement authorities considering reasonable grounds for defining such financial transaction as related, concerns or intended for financing of terrorist activity, terrorist acts or terrorist organizations.

Director of the Department for interaction and methodological provision of financial monitoring system 

 
 
 
А. Podkorytov 

 


 



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