This status also entails separate regulations governing powers, safeguards, rights, responsibilities, and restrictions. Incentives are also provided to encourage the fulfillment of duties associated with high-risk activities.
The corresponding bill was approved by parliament in its first reading. As the authors note, this is intended to strengthen the institutional framework of the service and introduce certification in the area of preventing and combating money laundering and terrorist financing.
In addition, some employees of reporting entities will be required to complete a training course on preventing and combating money laundering once every three years. Upon completion of the course, certification will also be provided.
As a reminder, according to the law, reporting entities in this area include banks, currency exchange offices, investment companies, the Unified Central Securities Depository, insurers, administrators of voluntary pension funds, non-bank credit organizations, loan and savings associations, real estate agents, payment service providers, electronic money issuers, and postal service providers, attorneys, notaries, bailiffs, mediators, gambling operators, auditors, as well as individuals selling precious metals and works of art, and providers of services in the field of crowdfunding and virtual assets.
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