On the Approval of the Rules of Suspension of Suspicious Monetary Operations and Communication of Information to the Financial Crime Investigation Service under the Ministry of the Interior


Published: 0000-00-00

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Official translation
 
 
the government of the republic of lithuania
 
resolution No 1441
 
of 15 November 2004
 
on the aPproval of the Rules of Suspension OF Suspicious Monetary Operations and communication of information to the Financial Crime Investigation Service under the Ministry of the Interior
 
Vilnius
 
 
Acting pursuant to paragraph 10, Article 9 of the Law of the Republic of Lithuania on Prevention of Money Laundering (Valstybės žinios (Official Gazette) No 64-1502, 1997, No 117-5318, 2003), the Government of the Republic of Lithuania h a s  r e s o l v e d:
To approve the Rules of Suspension of Suspicious Monetary Operations and Communication of Information to the Financial Crime Investigation Service under the Ministry of the Interior (appended).
 
 
 
Prime Minister                                                                                 Algirdas Brazauskas
 
 
 
Minister of the Interior                                                                   Virgilijus Bulovas
 
 
 
 
Approved by
Resolution No 1441
of the Government of the Republic of Lithuania
of 15 November 2004
 
 
RULES OF SUSPENSION OF SUSPICIOUS MONETARY OPERATIONS AND COMMUNICATION OF INFORMATION TO THE FINANCIAL CRIME INVESTIGATION SERVICE UNDER THE MINISTRY OF THE INTERIOR
 
I. GENERAL PROVISIONS
 
1. The Rules of Suspension of Suspicious Monetary Operations and Communication of Information to the Financial Crime Investigation Service under the Ministry of the Interior (hereinafter referred to as “the Rules”) shall regulate the suspension of suspicious monetary operations carried out by customers of financial institutions and other entities, with the exception of lawyers and lawyer assistants, and communication of information on such operations, as well information available at the Lithuanian Bar Association on operations suspected of being related to money laundering, to the Financial Crime Investigation Service under the Ministry of the Interior (hereinafter referred to as “Financial Crime Investigation Service”).
2. The concepts used in these Rules shall have the meanings defined in the Law of the Republic of Lithuania on Prevention of Money Laundering (Valstybės žinios (Official Gazette) No 64-1502, 1997, No 117-5318, 2003) (hereinafter referred to as “the Law”).
 
II. SUSPENSION OF SUSPICIOUS MONETARY OPERATIONS
 
3. Having found that a monetary operation carried out by a customer meets the criteria determined by the Government of the Republic of Lithuania according to which the monetary operation or transaction concerned shall be held suspicious, financial institutions and other entities, with the exception of notaries and persons licensed to perform notarial acts, shall immediately suspend such monetary operation irrespective of the amount of money involved in it.
4. Financial institutions and other entities, with the exception of notaries and persons licensed to perform notarial acts, must designate senior employees to be responsible for suspending suspicious monetary operations who shall organize the implementation of money laundering prevention measures provided for in the Law and liaise with the Financial Crime Investigation Service, and must establish appropriate internal procedures to regulate the suspension of financial operations commonly processed by the financial institution or other entity concerned.
5. Upon receipt of a written instruction from the Financial Crime Investigation Service to suspend suspicious monetary operations carried out by a customer, financial institutions and other entities, with the exception of notaries and persons licensed to perform notarial acts, must suspend such operations for up to 48 hours from the time specified in the instruction or from the moment of emergence of specific circumstances.  Where suspension of a monetary operation may interfere with the investigation into legalization of the money or assets derived from crime and other criminal acts related to money laundering, financial institutions and other entities, with the exception of notaries and persons licensed to perform notarial acts shall, upon receipt of a written instruction from the Financial Crime Investigation Service not to suspend the suspicious monetary operations carried out by the customer, refrain from suspending such operations from the time specified in the instruction.
 
 
III. COMMUNICATION OF INFORMATION TO THE FINANCIAL CRIME INVESTIGATION SERVICE
 
6. Financial institutions and other entities shall communicate, in writing, including by technical means of textual transmission, information on a suspicious monetary operation carried out b a customer no later than within three working hours from the moment of suspension. Notaries and persons licensed to perform notarial acts shall communicate information on a transaction entered into by a customer, which is suspected of being related to money laundering, to the Financial Crime Investigation Service in writing, including by technical means of textual transmission, immediately after the conclusion of the transaction and irrespective of the amount received or paid by the customer under the transaction; and the Lithuanian Bar Association shall do the same no later than within 3 working days of receipt of this information.  In urgencies, the Financial Crime Investigation Service may be notified orally (by telephone), in which case the financial institutions or other entities concerned shall immediately confirm this oral notification in writing.
7. Should the Financial Crime Investigation Service have doubts as to the veracity and the content of the notification communicated to it by technical means of textual transmission, the Financial Crime Investigation Service shall be entitled to request that this notification be confirmed in paper and set a deadline thereon.
8. Notification to the Financial Crime Investigation Service on a suspicious transaction or monetary operations shall contain the following information:
8.1. data evidencing the customer’s (his agent’s) identity;
8.2. criteria according to which the monetary operations or transaction has been deemed suspicious;
8.3. the type of the suspicious monetary operation;
8.4. the date of the suspicious monetary operation, the amount of money involved and the currency;
8.5. types of account management;
8.6. the customer’s (his agent’s) contact information;
8.7. the beneficiary of the suspicious monetary operation or transaction.
9. Having suspended a suspicious monetary operation, financial institutions and other entities, with the exception of notaries and persons licensed to perform notarial acts shall communicate to the Financial Crime Investigation Service information listed in item 8 and shall additionally indicate in the notification:
9.1. the date and time of suspension of the suspicious monetary operation;
9.2. description and location of assets which the customer cannot administer or use from the moment of suspension of the suspicious monetary operation, as well as any other relevant information on such assets.
10. Financial institutions and other entities as well as Lithuanian Bar Association shall adopt the standard form of the notification on the suspicious monetary operation or transaction, having agreed on it with the Financial Crime Investigation Service.
 
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