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The document ceased to be valid since  July 30, 2020 according to Item 3 of the Resolution of Board of the National Bank of Ukraine of  July 28, 2020 No. 107

It is registered

Ministry of Justice of Ukraine

August 15, 2003

No. 715/8036

THE ORDER OF STATE COMMISSION ON REGULATION OF THE MARKETS OF FINANCIAL SERVICES OF UKRAINE

of August 5, 2003 No. 25

About approval of the Regulations on implementation of financial monitoring by financial institutions

(as amended on 05-03-2013)

For the purpose of ensuring realization of the provisions of the law of Ukraine "About prevention and counteraction of legalization (washing) of income gained in the criminal way" and in pursuance of the Presidential decree of Ukraine of July 22, 2003 No. 740/2003 "About measures concerning development of system of counteraction of legalization (washing) of income gained in the criminal way and to terrorism financing" State commission on regulation of the markets of financial services of Ukraine POSTANOVILA:

1. Approve Regulations on implementation of financial monitoring by financial institutions (further - the Provision).

2. Charge to the vice-chairman of the Commission Golovko A. T. provide provision of the Provision in the Ministry of Justice of Ukraine for state registration.

3. And public relations (Nagornyak M. V.) to provide to department of interaction with mass media the publication of the Provision in mass media after its state registration.

4. To impose control of execution of the Provision on the vice-chairman of the Commission Golovko A. T.

Commission chairman

V. Suslov

Approved by the Order of State commission on regulation of the markets of financial services of Ukraine of August 5, 2003 No. 25

Regulations on implementation of financial monitoring by financial institutions

I. General provisions

1.1. This Provision is developed according to the Law of Ukraine "About prevention and counteraction of legalization (washing) of income gained in the criminal way or to terrorism financing" (further - the Law).

1.2. Action of this provision extends to insurers (overcautious persons), pawnshops, credit unions and other financial institutions, and also on legal entities who according to the legislation provide financial services (except financial institutions and other legal entities, concerning which state regulation and supervision in the sphere of prevention and counteraction of legalization (washing) of income gained in the criminal way, or to financing of terrorism are performed by other subjects of the state financial monitoring), payment institutes and members of the payment service providers which are non-bank organizations (further - organizations).

1.3. This Provision establishes requirements of State commission for regulation of the markets of financial services of Ukraine relatively:

appointments of the worker responsible for carrying out financial monitoring (further - the ranking officer), its rights and obligations;

main requirements to qualification of the ranking officer;

establishments of Rules of carrying out financial monitoring (further - Rules) and developments of Programs of carrying out financial monitoring (further - Programs);

identifications of the financial transactions which are subject to financial monitoring and which can be connected concern or are intended for terrorism financing;

identification and customer research (persons) performing financial transactions, storages of the relevant documents;

risk managements in the sphere of prevention and counteraction of legalization (washing) of income gained in the criminal way or to terrorism financing;

procedure for stop and renewal of financial transactions;

training of personnel of organization for the purpose of identification of the financial transactions which are subject to financial monitoring;

carrying out internal checks of activities of organization.

1.4. In this Provision terms are used in the value given in the Law.

II. Appointment of the ranking officer of organization (separate division)

2.1. For the purpose of ensuring fulfillment of requirements of the legislation in the sphere of prevention and counteraction of legalization (washing) of income gained in the criminal way, or to financing of terrorism of organization appoint the ranking officer.

2.2. The ranking officer heads and coordinates implementation (realization) of system of actions for prevention and counteraction of legalization (washing) of income gained in the criminal way or to financing of terrorism of organization.

2.3. The ranking officer is appointed on position at the level of management of organization.

2.4. Taking into account features of organizational structure of organization the separate structural division concerning carrying out financial monitoring can be created. The specified division functions according to regulations on this structural division. The head of this division is the ranking officer.

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