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Armenian president signs bill to combat money laundering
.c The Associated Press
YEREVAN, Armenia (AP) - Armenian President Robert Kocharian has signed
into law a parliamentary bill on combating money-laundering, his
office said Sunday.
The new law, which is also intended to help block funding of
terrorism, requires banks to report money transfers by individual
clients exceeding the equivalent of US10,000 (about euro7,600) and
obliges business structures to report all real-estate deals worth the
equivalent of more than US$100,000 (about euro76,000).
The law establishes a special structure under the ex-Soviet republic's
Central Bank to track down money-laundering.
01/16/05 13:41 EST
.c The Associated Press
YEREVAN, Armenia (AP) - Armenian President Robert Kocharian has signed
into law a parliamentary bill on combating money-laundering, his
office said Sunday.
The new law, which is also intended to help block funding of
terrorism, requires banks to report money transfers by individual
clients exceeding the equivalent of US10,000 (about euro7,600) and
obliges business structures to report all real-estate deals worth the
equivalent of more than US$100,000 (about euro76,000).
The law establishes a special structure under the ex-Soviet republic's
Central Bank to track down money-laundering.
01/16/05 13:41 EST