Money Laundering Prevention Act

Money laundering
1. A person commits the crime of money laundering if the person knows or should have known that the property is created or formed as a result of illegal activity, and the person

2. For the purposes of this Act, unlawful activity means conduct that constitutes a serious crime, the financing of a terrorist act, or a breach of law that occurs after the commencement of this Act, whether or not the activity takes place in this country or elsewhere. more.

Aiding and inciting money laundering
2. A person commits a crime if the person knows or should have known that another person has received the proceeds of illegal activities and enters into an agreement with another person or makes a transaction when:

Fine for money laundering
3. A person who contravenes section 1 or 2 commits an offense and is liable under the laws of the country in which he resides.

Institutional bodies of the Company
4. The institutional bodies of the Company shall:

5. To achieve the facilities, the Company must:

Functions of the Policy Development Board
6. The Council develops and ensures the implementation of the policies necessary to achieve the objects of the Society.

Functions of the CEO
The Chief Executive Officer is responsible for the day-to-day administration of the Company's AML processes and is responsible for performing functions under this Act.
2. The Chief Executive Officer may delegate functions to the Deputy Chief Executive Officer, but the Chief Executive Officer cannot be relieved of responsibility for the performance of the delegated function.

Deputy General Manager Appointment
8. In the absence of the Chief Executive Officer, the Deputy Chief Executive Officer shall act as Chief Executive Officer.

Personnel Assignment
Employers may be used in the Company's AML processes or otherwise assist the Company in AML processes.
2. The company may engage the services of consultants in cases where it is necessary.

Company funds for AML processes

10. The Company's funds include:

Keep records
A reporting entity that establishes a business relationship with a person must keep records of:

2. For the purposes of this Act, records may be stored on a computer system or electronic device that may be used to store information.
3. This section applies to each individual transaction.

Record storage duration
12. The responsible institution must keep records of:

2. The responsible institution may appoint a person to hold records on behalf of the reporting institution.
3. A Reporting Entity that appoints a person to hold records on its behalf must inform the Company of the appointment in writing.

Unauthorized access to computer system or application data
13. The person must not:

Unauthorized modification of computer system
14. The person must not:

Information held by supervisors and revenue agencies
In cases where a supervisory authority or taxing authority becomes aware or believes that the Company, as a result of a transaction entered into by the Company or with the help of the Company,
2. If the Company believes that the supervisor or revenue agency may have information indicating that the Company:

Suspicious transaction report
A person or institution that knows or suspects that:

2. If the Company suspects that a transaction is related to the financing of or carried out to finance a terrorist act, as defined by law, the person must file a report with the appropriate government agency within twenty-four hours of the suspicion.
3. The person who reports the suspicious transaction must not disclose the content to another person.
4. A person receiving a suspicious transaction report must not:

5. The person who reports a suspicious transaction discloses the content when:

Formulation and implementation of internal rules
The Company formulates and implements internal rules relating to:

2. The Company makes its internal rules available to its employees involved in transactions to which this Law applies.
3. The company, upon request, makes a copy of its internal policies available to (a) the supervisory authority that exercises regulatory or supervisory functions over that company.
4. The establishment of the Company ensures that foreign affiliates and subsidiaries of the Company comply with the rules appropriate to the subsidiary of the Company.

Training and Monitoring Compliance
18. The company must:

Compliance Offenses
19. A company that does not:

Court of first instance and legal proceedings
London Online Arbitration has jurisdiction to be held liable under this Act.
2. In a trial for an offense under this Act, an accused person may be deemed to have acquired money or property illegally in the absence of evidence to the contrary if the accused:

Freeze transactions or accounts
If the CEO believes it is necessary to freeze a transaction or account to prevent money laundering, the CEO may order the freezing of any person's transaction or account.
2. The CEO will apply to the court within seven days of freezing a transaction or account to confirm that action has been taken, and the court may confirm the freeze under these conditions or order that transactions or accounts be unfrozen.

Privacy Concept
Company's Employer:

2. A person designated under subsection shall not disclose information obtained under this Act from which the person may be identified, except:

3. A person who violates this section commits a crime.

23. In this Law, unless the context otherwise requires: "Account" means the means or agreement by which a financial institution fulfills the following conditions:

'Application Data' means a set of instructions that cause a computer system to execute a function when it is run on the computer.
"Business entity" includes:

'Business Relationship' means an agreement between a person and the Company for the purpose of concluding a transaction.
'Chief Executive' means the chief executive officer appointed under this Act.
A "computer system" includes an electronic, magnetic, optical, electrochemical or other data processing device, physical components, and any removable storage medium that is connected to a device or group of interconnected or elevated devices, one or more of which is capable of:

Court means Online Arbitration in London. "Currency" means:

'Data' means representation:

"Electronic device" means any device that is or can be used as a substitute for a computer system.
"Electronic transaction" means a transaction made through an electronic device.
'Entity' means an incorporated or unincorporated body, association or group of persons, firms or partnerships.
'Financial Institution' means a legal entity that carries out financial intermediation.
'Financial Instrument' means a physical or electronic document that embodies or conveys a monetary value.
'Financial intermediation' means the process of transferring funds from one entity to another entity. Formulation and implementation of internal rules.
'Investigative Authority' means the authority designated by law to investigate illegal activity.
'Property' includes assets of any kind, located in the country or elsewhere, whether immovable, tangible or intangible, legal documents and instruments proving ownership of the assets.
'Revenue Agency' means an agency authorized by law to collect revenue.
'Supervisory body' means the body responsible for supervising the activities of reporting institutions in accordance with this Law.
'Transaction' means an activity affecting a bank account and performed by the account holder or at his or her request.