of February 10, 2009 No. 767-IIIQ
About counteraction of legalization of money or other property received in the criminal way and to terrorism financing
This Law is directed to creation of legal mechanism for identification and prevention of the offenses connected with legalization of money or other property received in the criminal way, or terrorism financing, creation of the conditions excluding possibility of use of financial system for the purpose of legalization of such money or other property and financing of terrorism, protection in this sphere of the state and public concerns.
1.0. In this Law the following concepts are used:
1.0.1. money or other property received in the criminal way - received directly or indirectly as a result of making of the crimes fixed by the Criminal code of the Azerbaijan Republic, any money, personal or real, material or non-material estate, legal documents confirming the property rights;
1.0.2. Legalization of money or other property received in the criminal way - conversion or money transfer or other property which is obviously received in the criminal way for the purpose of concealment of the valid source of data of money or other property or assistance to person who committed crime for its evasion from responsibility, or implementation of financial transactions or other transactions with use of money or other property received in the criminal way in the same purposes, either concealment or concealment of the true nature, source, the location of money or other property which is obviously received in the criminal way, orders by them, their movements, accessory of the rights to this money or other property and their;
1.0.3. transactions with money or other property - the acts directed to obtaining, implementation, change or the termination of the civil laws connected with money or other property;
1.0.4. terrorism financing - intentional collection or transfer by direct and indirect way of all or parts of money or other property irrespective of source of its obtaining, knowing that they will be used financing of preparation, the organization or making of the acts provided in Articles 219-1, 219-2, 226, of 227, 227-1, 270-1, 277, of 278, of 279, of 280, 282 and 283 Criminal codes, person or group (gang, the organization) or the terrorist or terrorist group (gangs, the organizations);
1.0.5. body of financial monitoring - the structure created by relevant organ of the executive authority;
1.0.6. monitoring - the control actions performed by body of financial monitoring based on data on the operations performed with money or other property, represented by the participants of monitoring, other persons who are taking part in monitoring or regulatory authorities and also other data which source is known;
1.0.7. participants of monitoring - persons, the stipulated in Article 4 presents of the Law performing the actions provided by the Law for the purpose of the prevention of legalization of money or other property received in the criminal way or terrorism financing;
1.0.8. other persons participating in monitoring - the physical persons and legal entities which are engaged in purchase and sale of gemstones, precious metals, including the jewelry and other household products made of gemstones and precious metals, the physical persons or legal entities providing intermediary services in purchase and sale of real estate, the organizers of lottery and operators of sports totalizators, lawyers, notaries, persons providing legal services, consulting services in accounts department and taxes, auditor services which perform the measures provided by this Law for the purpose of counteraction of legalization of the money received in the criminal way or other property and to terrorism financing;
1.0.9. regulatory authorities - the bodies exercising control over observance by participants of monitoring and other persons of requirements of this Law participating in monitoring;
1.0.10. internal control system - the complex actions of internal control, the stipulated in Article 12 these Laws for the counteraction of legalization of money or other property received in the criminal way, or to terrorism financing performed by participants of monitoring, and participating in monitoring by other persons;
1.0.11. the client - the physical person or legal entity using any services constantly or irregularly participants of monitoring or other persons participating in monitoring on implementation of the transactions connected with money or other property;
1.0.12. the beneficial owner - the physical person or legal entity receiving eventually economic or any other benefit from transactions in connection with money or other property including this owner of the legal entity for benefit of whom transactions, or physical person which controls the client and (or) physical person or legal entity on behalf of which financial transactions or other transactions are performed are made;
1.0.13. currency values - cash foreign currency, securities in foreign currency, gemstones, precious metals, including the jewelry and other household products made of gemstones or precious metals;
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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The document ceased to be valid since February 1, 2023 according to article 25 of the Law of the Azerbaijan Republic of December 30, 2022 No. 781-VIQ