of August 6, 2018 No. 87
About counteraction to financing of terrorist activities and to legalization (washing) of the criminal income
Accepted by Jogorku Kenesh of the Kyrgyz Republic on June 28, 2018
This Law installs system of the measures directed to counteraction to financing of terrorist activities and to legalization (washing) of the criminal income and also on counteraction to financing of extremist activities and to financing of distribution of weapons of mass destruction.
1. In this Law the following basic concepts and terms are applied:
1) bank cover (bank screen) - the nonresident bank registered as bank and which obtained the license for implementation of banking activity in the state (in the territory) in which it has no physical presence or actually has no governing bodies and which is not affiliated with any regulated financial group which is under the consolidated supervision;
2) the beneficial owner - physical person (physical persons) which finally (through chain of ownership and control) directly or indirectly (through the third parties) owns the property right or controls the client or the physical person, from name or for the benefit of which transaction (transaction) is made;
3) verification - the procedure of verification of identification data of the client and (or) beneficial owner;
4) the high risk countries - the states and the territories (education) which do not apply or apply in insufficient degree international standards on counteraction to money laundering, financing of terrorism and financing of distribution of weapons of mass destruction, and also offshore zones;
5) business relations - the relations between the client and financial institution or the client and non-financial category of persons which evolved from the arrangement (oral or written) about provision of services on implementation of transaction (transaction);
6) freezing of transaction (transaction) and (or) means - prohibition of carrying out transaction (transaction) with means or transfers, transformations, alienations and movements of any means;
7) identification - the procedure of establishment of identification data on the client and (or) the beneficial owner;
8) foreign trust - the system of legal relationship created by the founder of foreign trust according to the legislation of foreign state, in case of which the property belonging to the founder of foreign trust is transferred to the control to the trustee or the custodian in interests (in advantage), any physical person or legal entity, or foreign legal education which have the right to cash and other benefit, or with particular purpose;
9) the client - the physical person or legal entity (organization), the foreign trust or legal education accepted on servicing or which are on servicing at financial institution or non-financial category of persons or with which the financial institution or non-financial category of persons establishes or established business relations;
10) legalization (washing) of the criminal income - giving of lawful type to ownership, use or the order of the criminal income by making of any actions (transactions or transactions) on transformation (conversion) or transfer of property if it is known that the property represents the income from crimes, for the purpose of concealment or concealment of criminal source of origin of property or assistance to person participating in crime execution for the purpose of evasion from responsibility for acts; either concealment or concealment of authentic nature of source, the location, method of the order and movement of property, and also the rights to property or its accessory if it is known that the property represents the income from crimes; either concealment or continuous deduction of property by person who was not participating in crime execution if person knows that the property is received as a result of crime execution; or acquisition, ownership or use of property if at the time of its obtaining person knew that the property represents the income from crimes;
11) the generalized material - the document containing information on suspicion of implementation of financing of terrorist activities or legalization (washing) of the criminal income and the related predicate crimes, prepared by body of financial investigation on analysis results of messages on transactions (transactions) and other information;
12) negotiable instruments to bearer - monetary instruments in shape to bearer and the addressing without restriction or blank monetary instruments (the travel and bank checks, cash and settlement checks, bills of exchange, securities, obligations and cash orders in documentary form certifying the obligation of the issuer (debtor) on payment of money) in which are not specified person to whom payment, or identification data of the receiver of monetary instruments is performed;
13) transaction (transaction) - any transactions (transactions) with means made for establishment, change or the termination of the civil laws and obligations with means;
14) predicate crime (the main crime) - any crime provided in the penal legislation of the Kyrgyz Republic or foreign state as a result of which making income (means) which is object (subject) of legalization (laundering) of the criminal income is gained;
15) the criminal income - the income (means) gained or taken directly or indirectly as a result of crime execution in the territory of the Kyrgyz Republic or foreign state;
16) the principle of reciprocity - the conventional principle of the international relations according to which authorized state bodies of the Kyrgyz Republic perform international cooperation with competent authorities of foreign state on mutually advantageous, equal basis and based on the commitment letter of each party on implementation of international cooperation;
17) public officials - one of the following physical persons:
a) foreign public official - the face performing or performing considerable state or political functions (public functions) in foreign state (the head of states or the governments, management officials in the government and other state bodies, courts, armed forces, at the state companies, and also prominent politicians, including eminent persons of political parties);
b) the national public official - the person borrowing or holding the political and special state position or political municipal position in the Kyrgyz Republic provided by the Register of the state and municipal positions of the Kyrgyz Republic approved by the President of the Kyrgyz Republic and also the top management of the state corporations, prominent politicians, including eminent persons of political parties;
c) the public official of the international organization - the management official of the international organization to which are entrusted or important functions by the international organization (the heads, deputy managers and board members of the international organization or persons holding equivalent positions in the international organization) were entrusted;
18) risk - the oriented approach - application of the strengthened measures with high risk level or the simplified measures with low risk level according to the established procedures of risk management (identification, assessment, monitoring, control, decrease in risk degree);
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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