Amendments To The Proceeds Of Money Laundering And Terrorist Financing Prevention Act

Original Language Title: Grozījumi Noziedzīgi iegūtu līdzekļu legalizācijas un terorisma finansēšanas novēršanas likumā

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The Saeima has adopted and the President promulgated the following laws: amended Criminal money laundering and terrorist financing Prevention Act, to make the Crime of money laundering and terrorist financing Prevention Act (the Saeima of the Republic of Latvia and the Cabinet of Ministers rapporteur, 2008, no. 16; 2009, no. 2; Latvian journal, 2009, 196, 205. no; 2011, 60 no; in 2012, 100 no; 2013, 187. No.) the following amendments: 1. Make the first part of article 3, paragraph 9 by the following: "9) other legal or natural persons that deal with real estate, vehicles, cultural monuments, precious metal, precious stones, their products or other goods, as well as with mediation in these transactions or the provision of other services, if payment is made in cash of eur 15 000 or more or the foreign currency accounts, in accordance with the foreign exchange rate used for the day of the transaction is the equivalent of eur 15 000 or exceed this amount regardless of whether the transaction is carried out as a single operation or in several related operations. " 2. in article 11: make part two of paragraph 1 by the following: "1) amount or more obviously linked transaction total is 15 000 euros or more or is in foreign currency, in accordance with the accounting used in the foreign exchange rate at the date of transaction is equivalent to Euro 15 000 or exceed this amount;" make the third paragraph as follows: "(3) if the transaction is not detectable at the time, or the amount of the transaction will be € 15 000 or more, or will be in foreign currency, in accordance with the accounting used in the foreign exchange rate at the date of transaction is equivalent to Euro 15 000 or exceed this amount, the customer will be identified as soon as it became known, the amount of the transaction is 15 000 euros or more or is in a foreign currency in accordance with the accounting used in the foreign exchange rate at the date of transaction is equivalent to Euro 15 000 or exceed this amount. " 3. in article 26: Express 3.1 parts of paragraph 5 by the following: "5) the total amount of transactions does not exceed 15 000 euro or a foreign currency, in accordance with the accounting used in the foreign exchange rate at the transaction date of the beginning of not more than 15 000 euro;"; Express 3.2 part as follows: "(32) insurance business operators carrying out life insurance, and the insurance broker shall be entitled to make simplified customer research in respect of life insurance policies where the annual premium is no more than 1000 Euro or a foreign currency, in accordance with the accounting used in the foreign exchange rate at the transaction date of the beginning of not more than eur 1000, or if the single premium is no more than 2500 euro or a foreign currency in accordance with the accounting used in the foreign exchange rate at the transaction date in the beginning not more than 2500 euro. "; Express 3.4 parts 1 and 2 in the following wording: "1) electronic device where the maximum accumulated amount of not more than 250 euro or a foreign currency, in accordance with the accounting used in the foreign exchange rate at the transaction date of the beginning of not more than 250 euro, and it is not possible to repeatedly; 2) if electronic money device it is possible to repeatedly add to and one calendar year of the settlement with the electronic money device shall not exceed the amount which is 2500 euro or a foreign currency, in accordance with the accounting used in the foreign exchange rate at the date of transaction is equivalent to 2500 euro. This exception shall not apply where the electronic money institution from the client (the electronic money holder) after its request for the same calendar year, eur 1000 or more repurchases in the amount or the amount in foreign currency, in accordance with the accounting used in the foreign exchange rate at the date of transaction is equivalent 1000 euros or exceed this amount. " 4. Express 45. the second part of paragraph 5 by the following: "5) other legal or natural persons that deal with real estate, vehicles and other goods, as well as mediation in these transactions or supply of services if the payment is made in cash of eur 15 000 or more or the foreign currency accounts, in accordance with the foreign exchange rate used for the day of the transaction is the equivalent of eur 15 000 or exceed this amount regardless of whether the transaction is carried out as a single operation or in several related operations; ". 5. Make the article 71 the third paragraph as follows: "(3) the loss, calculated in accordance with article 70 of the law and article 71 of the first and second parts of the regulations, to pay the following amount: 1) 100 percent — of the calculated amount or part of the amount not exceeding 150 000 euro; 2) 75 percent, of the estimated amount of the part exceeding the 150 000 euro, up to 1 425 000 euro; 3) 50 percent, of the estimated amount of the part exceeding eur 1 425 000. " The law shall enter into force on January 1, 2014. The Saeima adopted the law on 31 October 2013. The President a. Smith 2013 in Riga on November 21.

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