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Ministry of Justice

Republic of Uzbekistan

On May 23, 2017 No. 2886

THE RESOLUTION OF BOARD OF CENTRAL BANK OF THE REPUBLIC OF UZBEKISTAN, DEPARTMENT ON FIGHT AGAINST TAX, CURRENCY OFFENCES AND LEGALIZATION OF THE CRIMINAL INCOME UNDER THE PROSECUTOR GENERAL'S OFFICE OF THE REPUBLIC OF UZBEKISTAN

of April 17, 2017 No. 343-B, No. 14

About approval of Rules of internal control on counteraction of legalization of income gained from criminal activities, to financing of terrorism and financing of distribution of weapons of mass destruction in commercial banks

(as amended on 29-06-2021)

According to the laws of the Republic of Uzbekistan "About the Central bank of the Republic of Uzbekistan", "About banks and banking activity" and "About counteraction of legalization of income gained from criminal activities and to terrorism financing" the Board of the Central bank of the Republic of Uzbekistan and Department on fight against tax, currency offenses and legalization of the criminal income under the Prosecutor General's Office of the Republic of Uzbekistan decide:

1. Approve Rules of internal control on counteraction of legalization of income gained from criminal activities, to financing of terrorism and financing of distribution of weapons of mass destruction in commercial banks according to appendix.

2. Recognize invalid the resolution of Board of the Central bank of the Republic of Uzbekistan and Department on fight against tax, currency offenses and legalization of the criminal income under the Prosecutor General's Office of the Republic of Uzbekistan from October 2, 2013 as No. No. 328-B and 20 "About approval of Rules of internal control on counteraction of legalization of income gained from criminal activities and financing of terrorism in commercial banks" (reg. No. 2528 of November 21, 2013) (Collection of the legislation of the Republic of Uzbekistan, 2013, No. 47, the Art. 623).

3. This resolution becomes effective after three months from the date of its official publication.

Chairman of the Central bank

F.Mullazhonov

The head of the department of fight against tax, currency offenses and legalization of the criminal income under the Prosecutor General's Office


Z.Dusanov

Appendix

to the Resolution of Board of the Central bank of the Republic of Uzbekistan and Department on fight against tax, currency offenses and legalization of the criminal income under the Prosecutor General's Office of the Republic of Uzbekistan No. No. 343-B and 14 from April 17, 2017

Rules of internal control on counteraction of legalization of income gained from criminal activities, to financing of terrorism and financing of distribution of weapons of mass destruction in commercial banks

These rules according to the laws of the Republic of Uzbekistan "About the Central bank of the Republic of Uzbekistan", "About banks and banking activity" and "About counteraction of legalization of income gained from criminal activities and to terrorism financing" determine procedure for the organization and implementation of internal control in commercial banks for the purpose of counteraction of legalization of income gained from criminal activities, to financing of terrorism and financing of distribution of weapons of mass destruction, and also suspension of transactions, freezings of money or other property, renewal of transactions and provision of access to the refrigerated property of persons included in the list of the persons participating or suspected of participation in terrorist activities or distribution of weapons of mass destruction.

Chapter 1. General provisions

1. In these rules the following basic concepts are used:

commercial bank - the bank which is resident of the Republic of Uzbekistan and having the license for implementation of the related activity;

internal control - activities of commercial bank for proper check of clients, risk management of legalization of income gained from criminal activities, to financing of terrorism and financing of distribution of weapons of mass destruction, identification of doubtful and suspicious transactions, and also transactions which participants are the persons participating or suspected of participation in terrorist activities or distribution of weapons of mass destruction;

Service of internal control - the special division of commercial bank responsible for implementation of internal control;

the responsible - person responsible for implementation of internal control in branch of commercial bank;

staff of Service of internal control is the staff of Service of internal control of head office of commercial bank, the responsible or the head and the staff of Service of internal control of branch of commercial bank responsible for implementation of internal control;

internal control system of commercial bank - set of actions of Service of internal control and other divisions of commercial bank directed to goal achievement and accomplishment of the tasks determined by these rules and internal documents;

internal documents - the documents regulating activities of commercial bank and approved by its management according to the legislation;

internal regulations - the internal document regulating procedure for the organization and implementation of internal control in commercial bank and its branches;

specially authorized state body - Department on fight against economic crimes under the Prosecutor General's Office of the Republic of Uzbekistan;

the client - the physical person or legal entity which addressed to commercial bank with the order (the statement, the petition) for implementation of transaction with money or other property (further - transactions);

the beneficial owner - person who finally owns the property rights or really controls the client and for the benefit of which transaction with money or other property is made;

participants of transaction are clients, their representatives, and also the client's partners participating in transaction;

doubtful transaction - transaction concerning which the commercial bank in the course of implementation of internal control had doubt about its implementation for the purpose of legalization of income gained from criminal activities, financing of terrorism and (or) financing of distribution of weapons of mass destruction before decision making about inclusion its (non-inclusion) in category of suspicious transactions;

suspicious transaction - the transaction which is in process of preparation, making or already committed concerning which the commercial bank in the course of implementation of internal control had suspicion about its implementation for the purpose of legalization of income gained from criminal activities, financing of terrorism and (or) financing of distribution of weapons of mass destruction;

one-time transactions - the transactions performed by clients in one-time procedure without opening of the bank account, which are not repeating, at least, within one month;

proper check of the client - check of the personality and powers of the client and persons, on behalf of which he acts, identification of the beneficial owner of the client, and also carrying out on permanent basis of studying of the business relations and transactions performed by the client for the purpose of check of their compliance to information about such client and his activities;

identification of the client - determination by commercial bank of data on clients on the basis of the information available provided by them documents, in addition confirmed in open sources and databases for the purpose of implementation of proper check of the client;

identification of the beneficial owner of the client - determination by commercial bank of the legal entity of the owner, including face of the controlling client by studying of structure of property and management based on the constituent documents determined by the legislation (the charter and (or) the foundation agreement, provision);

the states which are not participating in international cooperation in the sphere of counteraction of legalization of income gained from criminal activities and to terrorism financing - the states and the territories determined in official declarations of Group on development of financial measures of anti-money laundering which pose threat to international financial system and which have system of counteraction of legalization of income gained from criminal activities and to terrorism financing has strategic shortcomings;

offshore zone - the states and the territories which are providing preferential tax regime and (or) not providing disclosure and submission of information when carrying out financial transactions;

risk - risk of making by clients of transactions for the purpose of legalization of income gained from criminal activities, financing of terrorism or financing of distribution of weapons of mass destruction;

remote services - the banking services provided on carrying out transactions with use of the programs giving the chance of implementation of transactions without the client's appearance in commercial bank.

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