LAW OF THE REPUBLIC OF BELARUS

of June 30, 2014 No. 165-Z

About measures for prevention of legalization of income gained in the criminal way, financings of terrorist activities and financing of distribution of weapons of mass destruction

Accepted by the House of Representatives on June 5, 2014

Approved by Council of the Republic on June 12, 2014

This Law determines legal and organizational basis of state policy in the field of prevention of legalization of income gained in the criminal way, financings of terrorist activities and financing of distribution of weapons of mass destruction.

Chapter 1. General provisions

Article 1. The main terms applied in this Law and their determinations

In this Law the following main terms and their determinations are applied:

the beneficial owner – the physical person who is owner of property of the client or owns at least than 10 percent of shares (share in authorized fund, shares) the client organization, or directly or indirectly (through the third parties) finally has the right or opportunity to give instructions, obligatory for the client, to influence the decisions made by it or to otherwise control its actions;

blocking of financial transaction – prohibition on implementation of financial transaction (except for receipts bank, cash, and also postal money transfers, transfer of securities into accounts of "depot") which participant or the beneficiary on which are the organization, physical person, including the individual entrepreneur included in the list of the organizations and physical persons involved in terrorist activities determined in accordance with the established procedure or the organization which beneficial owner is the physical person included in this list;

verification – set of actions for check and (or) amendment of data on the clients, their representatives, other participants of financial transaction received during identification;

internal control – set of measures for prevention and identification of the financial transactions connected with legalization of the income gained in the criminal way, financing of terrorist activities and financing of distribution of weapons of mass destruction accepted by persons performing financial transactions;

the beneficiary – the organization, physical person, including the individual entrepreneur, in interests (in advantage) whom acts the participant of financial transaction on the basis of the of insurance contracts, joint insurances, trust management of money or other property;

monetary instruments – the bills of exchange, other securities in documentary form certifying the obligation of the issuer (debtor) on payment of money in which person to whom such payment, and also travel checks is performed is not specified;

income gained in the criminal way – the means received as a result of crime execution, and equally in income gained from use of the specified means;

freezing of means – prohibition on the order, use of means (except for uses of real estate for own needs) if owner or the owner of means are the organization, physical person, including the individual entrepreneur included in the list of the organizations and physical persons involved in terrorist activities determined in accordance with the established procedure or the organization which beneficial owner is the physical person included in this list;

identification – complex of actions for establishment of data on the clients, their representatives, other participants of financial transaction determined according to this Law and also on confirmation of reliability of these data;

the client – the participant of financial transaction serviced by person performing financial transactions including based on the contract for implementation of financial transactions in writing including the agreement signed the digital signature, in electronic form without use, in the cases provided by legal acts (further – the contract for implementation of financial transactions in writing);

legalization of income gained in the criminal way – giving of lawful type to ownership, use and (or) the order of income gained in the criminal way for the purpose of concealment or misstatement of their origin, the location, placement, movement or their valid accessory including correlated to this income of the rights;

cash – the bank notes in the form of banknotes and treasury notes, coins, except for coins from precious metals which are in circulation and being legal means of payment in state members of the Eurasian Economic Union or foreign states (group of foreign states) including withdrawn or withdrawn from circulation, but subject to exchange on the bank notes which are in circulation;

updating (updating) – establishment and fixation of data on clients, their representatives, other participants of financial transaction, excellent from earlier received (confirmation of the available data);

the organization, not being the legal entity, – the structure created according to the legislation of foreign state (territory) or using foreign law without formation of legal entity (trust, other form of implementation of collective investments) which has the right to perform the activities directed to generation of profit (income) for the benefit of the participants or other beneficiaries;

special control – set of the measures for control of financial transactions taken by body of financial monitoring based on information obtained from persons performing financial transactions for the purpose of prevention of legalization of income gained in the criminal way, financings of terrorist activities and financing of distribution of weapons of mass destruction;

system of identification – set of the databanks, information technologies and program technical means created and (or) used according to the legislation or created and (or) used by nonresidents, which are not contradicting recommendations of Group of development of financial measures of anti-money laundering (further – recommendations of FATF) and intended for collection, processing, storage and data presentations about clients, their representatives for the purpose of their identification, including remotely;

means – money, securities, electronic money, other property, including property rights, and also exclusive rights on results of intellectual activities;

the amount of financial transaction – the cash amount or cash equivalent of non-cash means of financial transaction including established under the agreement of participants of the financial transaction providing assignment of rights on means;

the participant of financial transaction – the organization, including the organization, not being the legal entity, physical person, including the individual entrepreneur concerning financial transaction and also their representatives;

financing of distribution of weapons of mass destruction – provision or fund raising in any manner for the purpose of acquisition, storage, sale, use of weapons of mass destruction;

financial transaction – the transaction with means irrespective of form and method of its implementation. In case of banking operations financial transaction is understood as opening of the bank account, one-time payment, transfer, receipt, issue, exchange, introduction of means. When implementing depository operations financial transaction is understood as opening of accounts of "depot", depositary transfer of securities.

For the purposes of this Law are understood as persons performing financial transactions:

National Bank, banks and non-bank credit and financial organizations, "Development Bank of the Republic of Belarus" open joint stock company;

professional participants of the security market;

commodity exchanges;

persons performing trade in precious metals and gemstones;

buying up Items;

insurance companies and insurance brokers;

organizers of lotteries and video interactive games;

notaries;

the organizations which are rendering realtor services and taking part in the transactions connected with purchase and sale of real estate for the client;

auditing organizations, the auditors performing activities as individual entrepreneurs, rendering the professional services on conducting financial accounting and creation of the accounting and (or) financial reporting connected with making from name and (or) at the request of the client of financial transactions;

the organizations and the individual entrepreneurs, lawyers rendering the legal services (legal aid) connected with creation of the organizations or participation in management of them, acquisition or sale of the company as property complex, making of financial transactions and (or) cash management or other property from name and (or) at the request of the client;

operators of mail service;

organizers of gamblings;

organizations for state registration of real estate, rights to it and transactions with it;

leasing organizations;

the microfinancial organizations, other legal entities who according to legal acts have the right to perform microfinancial activities;

Forex company, National Forex center;

the residents of the Park of high technologies performing the following types of activity: rendering the services connected with creation and placement of digital signs (tokens) with use of the global computer Internet including services in promotion of digital signs (tokens), the consulting and other accompanying services; activities of the operator of cryptoplatform; activities of the operator of exchange of cryptocurrencies; other activities with use of digital signs (tokens) including containing signs of professional and exchange activity on securities, activities of investment fund, securitization and also implementation of transactions for creation and placement of own digital signs (tokens);

special financial organizations;

management companies of investment funds;

tax consultants;

operators of services of online borrowing;

operators of cellular mobile telecommunication.

For the purposes of this Law are understood as nonresidents:

foreign citizens and stateless persons, except for the foreign citizens and stateless persons specified in the paragraph the second to part four of this Article;

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info