Armenian Central Bank may start monitoring all property donation transactions

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Society

11.09.2023, 17:06

The National Assembly of Armenia discussed today in the first reading a set of amendments to the law on combating money laundering and financing of terrorism.

Armenian Central Bank may start monitoring all property donation transactions

YEREVAN, September 11. /ARKA/. The National Assembly of Armenia discussed today in the first reading a set of amendments to the law on combating money laundering and financing of terrorism.

According to Deputy Justice Minister Ara Mkrtchyan, the amendments were prompted by a sharp increase in the number of property donation transactions.

In particular, in 2020 there were 4,017 property donation transactions in Yerevan and 8,674 transactions in the regions of Armenia, but in 2022 their numbers surged to 7,334 and 15,765 respectively.

The deputy minister said that now notaries should report suspicious transactions to the Central Bank.

Under the proposed changes, data on all property donation transactions will be sent to the Central Bank to help monitor all related risks. -0-

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