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LAW OF THE REPUBLIC OF MOLDOVA

of December 22, 2017 No. 308

About the prevention and anti-money laundering and terrorism financing

(as amended on 23-11-2018)

For the purpose of transposition of provisions of the Directive 2015/849/EU of the European Parliament and Council of May 20, 2015 about prevention of use of financial system for the purpose of money laundering and financing of terrorism, about modification of Regulations (EU) of the European Parliament and Council No. 648/2012 and about cancellation of the Directive 2005/60/EC of the European Parliament and Council and the Directive 2006/70/EC of the Commission (the document extends to the EEA) published in the Official magazine of the European Union by L 141 of June 5, 2015 and also for fulfillment of requirements of international standards of the prevention and anti-money laundering, financing of terrorism and the distribution of weapons of mass destruction taken by the International Group of Financial Actions (IGFA) in February, 2012

The Parliament adopts this organic law.

Chapter I. General provisions

Article 1. Law purpose

This law establishes measures for the prevention and anti-money laundering and terrorism financing which shall promote safety of the state, being intended for protection of national financial and bank, financial and non-bank system and representatives of liberal professions, protection of the rights and legitimate interests of physical persons, legal entities and the state.

Article 2. Scope of the law

(1) This law extends to actions for money laundering, the related crimes, actions for financing of terrorism and distribution of weapons of mass destruction made directly or indirectly by citizens of the Republic of Moldova, foreign citizens, stateless persons, legal resident persons or nonresidents in the territory of the Republic of Moldova and also, according to international treaties, one of the parties of which is the Republic of Moldova, – on the actions made by them outside the Republic of Moldova.

(2) If transaction/transaction is made in foreign currency, the official rate of Moldovan leu in relation to foreign currency established by National Bank of Moldova on the date of transaction/transaction making is applied to determination of its equivalent in Moldovan lei for the purpose of application of provisions of this law.

Article 3. Basic concepts

For the purpose of this law the following basic concepts are used:

risk - the oriented approach – use of the decision making process based on proofs for the effective prevention and fight against the risks of money laundering and financing of terrorism revealed at the operational, sectoral and national levels;

activities – the behavior based on set of actions, including the transactions aimed at receipt of result;

doubtful activities or the transaction – activities or the transaction with property or illegal property, including financial resources and funds concerning which reporting unit knows or are available for it reasonable suspicions that actions for money laundering, the related crimes, actions for financing of terrorism and distribution of weapons of mass destruction are at stage of preparation, attempt, making or are already made;

the real estate agent – the legal entity or physical person rendering intermediary services in real estate transactions, including on purchase and sale or real estate lease, and providing consultations in this sphere in exchange for previously determined commission from the cost of the transaction;

the fictitious bank – bank or the organization performing the activities corresponding to activities of bank which has no physical presence does not perform real management and management and does not enter into regulated financial group;

the vygodopriobretayushchy owner – physical person which eventually owns the physical or legal entity or controls it either the beneficiary of investment society or the managing director of investment society, or person on behalf of whom activities or the transaction are performed and/or which has directly or indirectly the property right or control concerning at least 25 percent of shares or voting powers of the legal entity or concerning the property which is in trust management;

property – financial resources, funds, the income, any sort of the value (assets), material or non-material, movable or immovable, tangible or intangible, and also documents or other legal instruments in any form, including electronic or digital, the confirming title or the right, including any share (interests) in these values (assets);

illegal property – the property intended or used for crime or got directly or indirectly as a result of crime execution any benefit received from this property and also the property converted or transformed in parts or in full from the property intended or used for crime or got as a result of its making and the benefits received from this property;

the refrigerated property – the property which is subject of the interim measures provided in Article 33;

doubtful property – property concerning which reporting unit knows or it has reasonable suspicions that it has illegal character;

the client – the physical person or legal entity which is in process of establishment of business relations or established business relations with reporting unit or used or uses services of reporting unit;

the anonymous account – the account which owner is not established;

the account on dummy name – the account opened addressed to unidentified person to whom the fictitious name is appropriated;

terrorism financing – the actions determined in article 279 of the Criminal code and international agreements, one of the parties of which is the Republic of Moldova;

the crimes connected with money laundering – the crimes provided by the Criminal code including terrorism financing as a result of which making the property, including the income, funds and other benefits making money laundering subject is illegally extracted;

financial investigations – the activities consisting in information collection, the analysis and check of all financial and economic relations, and also check of clients which can be connected with the actions for money laundering relating to them crimes and actions for terrorism financing; the activities directed to establishment and determination of source and tracing of the used property got as a result of these crimes, funds of terrorists and other property which is or can be subject of interim measures and/or confiscations, and also activities for assessment of the sizes of criminal network and appropriate level of crime. Financial investigations should be distinguished from special investigations which are regulated by the Law on special search activities No. 59/2012;

the representative of liberal profession – the physical person or legal entity providing independent professional accounting, auditor and legal services, including lawyers and notaries, performing activities according to the current legislation;

rationing arrangements concerning property – the measures providing prevention of movement, transfer, change, use or manipulation of property in any manner which can cause change of its amount, cost, the location, the relations of property and ownership, nature or appointment or any other change allowing to use property;

members of families of politically vulnerable persons – the spouses/spouse, children and their spouses, the cohabitant/cohabitant or parents of politically vulnerable person;

body for self-regulation with supervision functions – the subject with the status of the legal entity representing members of one profession and playing role in regulation of their activities, implementation of certain supervising or monitoring functions and ensuring enforcement of the rules relating to them;

the faces tied with politically vulnerable persons – physical persons who, as we know, together with politically vulnerable person are vygodopriobretayushchy owners of the legal entity or consist in general with it business relations, and also physical persons who, as we know, are the single vygodopriobretayushchy owners of any legal entity concerning whom it is known that it is actually created for the benefit of politically vulnerable person;

upper managers – the officials or employees who are rather informed on exposure of organization to risks of money laundering and financing of terrorism, holding positions, rather high for decision making, influencing such exposure, not necessarily being members of administrative board;

politically vulnerable persons are physical persons which perform or performed within last year important state positions Yo at national and/or international level, and members of governing bodies of political parties;

the physical persons who are taking up important state positions at the international level – physical persons which take up or took up positions of heads of states, heads of governments and heads of the Cabinets of Ministers, and also members of the government, deputy ministers, heads of the state offices, deputies, heads of political parties, judges of the highest trial chambers, members of Audit Chambers and members of councils of national banks, officers of the senior and highest military ranks, members of the leading and administrative authorities of the companies with the state capital, members of royal families, ambassadors and the high-ranking staff of diplomatic representations, directors, associate directors and members of administrative boards of the international organizations;

the physical persons who are taking up important state positions at the national level – physical persons which perform or took up the most important responsible state positions according to the law, and also members of the leading and administrative authorities of the state companies, the municipal companies and commercial societies with mainly state capital, heads of political parties and officers of the senior and highest military ranks;

distribution of weapons of mass destruction – the actions determined in article 140-1 of the Criminal code and international agreements, one of the parties of which is the Republic of Moldova;

business relations – the professional or commercial relations connected with professional activity of the reporting units and persons regulated by this law which certain duration is supposed at the time of contact establishment;

professional secrecy – information, data and documents which are stored according to this law concerning the particular person: personal data, data on financial assets, business relations, structure of property, networks of sales and development plans for business which disclosure can cause damage to the corresponding person;

suspension of operations or transactions – temporary ban of change of the mode of property, transfer, destruction, transformation, placement or movement of property or temporary capture of property on storage or under control;

money laundering – the actions determined in article 243 of the Criminal code and international agreements, one of the parties of which is the Republic of Moldova;

the transaction – the actions based on the preliminary arrangement between two or more parties by means of which the property is transferred, liquidated, transformed is placed or arrives in turnover;

the difficult and extraordinary transaction – the transaction made by one transaction or several transactions which do not correspond to daily activities of the client and/or are not typical for the sake of appearances its activities;

the one-time transaction – the transaction made by one transaction or several transactions by one or several physical or legal entities in lack of business relations with reporting unit.

Chapter II. Prevention of money laundering and financing of terrorism

Article 4. Reporting units

(1) Provisions of this law are applied to the following physical persons and legal entities (further – reporting units):

a) the banks specified in the Law on activities of banks No. 202/2017;

b) foreign exchange offices (except banks);

c) registration societies, investment societies, Single central depositary, operators of the markets, system operators, insurers (overcautious persons), intermediaries in insurance and/or reinsurance – legal entities, National bureau of insurers of vehicles, non-state pension funds, the microfinancial organizations, savings and loan associations, the central associations of savings and loan associations;

d) organizers of gamblings;

e) real estate agents;

f) the physical persons and legal entities performing activities with precious metals and gemstones;

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