Terrorism financing risks in Armenia considered to be low - Deputy Chairman of Central Bank
YEREVAN, April 27. /ARKA/. Terrorism financing risks in Armenia are considered to be low, and the money laundering risks are estimated below average, Deputy Chairman of the Central Bank Nerses Yeritsyan said during a meeting of the parliamentary committee on financial and budget issues on Tuesday.
He said there are almost two dozens criteria used to asses such risks. 'According to the international scale, Armenia's assessments are considered to be good,” Yeritsyan said.
He noted that the regulator receives enough information to be able to identify risks at early stages and transfer data to law enforcement agencies.
Moreover, according to him, the Central Bank receives and analyzes data on all transactions which are above 20 million drams (in Armenian national currency) and $5 million (in USD), including transactions in cash.
Nevertheless, according to him, after the latest monitoring, the Council of Europe's MONEYVAL proposed new amendments, which were incorporated into Armenia's law on combating money laundering and financing of terrorism.
“This is the last group of changes, after which we will comply and ensure legislation in accordance with international standards,” Yeritsyan said.
The changes involve some procedures for the presentation of financial statements and the list of persons who will have to report income. In particular, in addition to the director of a company, it will also include the circle of persons involved in its management. The changes are aimed at identifying the real owners and beneficiaries of companies, verifying their identity, which will ensure the transparency of the functioning of legal entities.
The changes also provide for the expansion of the list of persons with political influence who will also have to report. They are local high-ranking officials, persons who hold important positions in international organizations, as well as their family members or persons related to him. –0--
