of August 28, 2009 No. 191-IV ZRK
About counteraction of legalization (washing) of income gained in the criminal way and to terrorism financing
This Law determines the legal basis of counteraction of legalization (washing) of income gained in the criminal way and to terrorism financing, legal relations of subjects of financial monitoring, authorized body and other state bodies of the Republic of Kazakhstan in the sphere of counteraction of legalization (washing) of income gained in the criminal way and to terrorism financing.
In this Law the following basic concepts are used:
1) suspicious transaction with money and (or) other property (further - suspicious transaction) - transaction of the client (including attempt of making of such transaction, the transaction which is in process of making or already committed transaction) concerning which there are suspicions that the money and (or) other property used for its making are the income from criminal activities, or transaction is directed to legalization (washing) of income gained in the criminal way, either financing of terrorism or other criminal activities;
2) transactions with money and (or) other property - the actions of physical persons and legal entities with money and (or) other property irrespective of form and method of their implementation directed to establishment, change or the termination of the related civil laws and obligations;
2-1) freezing of transactions with money and (or) other property - the measures taken by subjects of financial monitoring and state bodies on suspension of transfer, transformation, alienation or movement of the money and (or) other property belonging to the organization and (or) physical person included in the list of the organizations and faces tied with financing of terrorism and extremism, or the organization which beneficial owner is the physical person included in the specified list;
2-2) individual entrepreneurs and legal entities performing transactions with precious metals and gemstones, jewelry from them - persons performing purchase and sale of precious metals and gemstones, jewelry from them, except for the religious organizations, the museums and the organizations using precious metals, their chemical compounds, gemstones in the medical, research purposes or as a part of tools, devices, the equipment and products of technological appointment;
3) the beneficial owner - physical person:
which directly or indirectly possesses more than twenty five percent of shares in the authorized capital or placed (less exclusive and redeemed by society) shares of the client - the legal entity;
exercising control over the client otherwise;
for the benefit of which the client makes transactions with money and (or) other property;
4) the client - the physical person or legal entity receiving services of the subject of financial monitoring;
5) correspondence relations - the contractual relations arising when opening by banks, the organizations performing separate types of banking activities, the correspondent accounts to other banks for the purpose of making of transactions linked with implementation of bank servicing;
6) bank screen - the nonresident bank which has no physical presence in the state (territory) at which it is registered as bank and (or) obtained the license for implementation of banking activity, except for findings of such bank in immediate or indirect possession of the bank holding which is subject to the consolidated supervision in the state (territory) in which it is registered;
7) financial monitoring - set of measures for collection, processing, the analysis and use of data and information on the transactions with money and (or) other property performed by authorized body and the subject of financial monitoring according to this Law;
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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