14 October 2014, 11:08
The legislative act aims at securing implementation of provisions of new international standards in the sphere of counteraction to laundering money and combating terrorism financing.
The law comprehensively refines national legislation in the sphere of financial monitoring.
In particular, the document stipulates:
introducing the national assessment of risks of financial monitoring system and refining the risk-oriented approach;
singling out measures for combating financing proliferation of weapons of mass destruction;
changing an approach for determining predicate crimes;
amending the Criminal Procedure Code of Ukraine;
exercising financial monitoring of national public figures and officials of international organizations;
refining the procedure of termination of financial transactions, etc.
The Law recognizes the Law “On prevention and counteraction to legalization (laundering) of the proceeds from crime or terrorism financing” as invalid, and amends other codified and legislative acts that proceed from the abovementioned law and aim at implementation of its provisions.
The law was adopted in the version of the Committee on Finance and Banking.
The respective bill was registered under No. 5067.