Law on Combating Money Laundering and Terrorism Financing

Armenia

(enacted in 2008)

The Law on Combating Money Laundering and Terrorism Financing establishes a legal structure for countering money laundering and terrorism financing in Armenia.

This law regulates the agencies involved in combating money laundering and terrorism financing and lays out supervisory functions and sanctions against transgressors.

This law is organized in the following chapters:

Chapter 1 General Provisions;
Chapter 2 Prevention of Money Laundering and Terrorism Financing;
Chapter 3 Authorized Body (for combating money laundering and terrorism financing);
Chapter 4 Cooperation for Purposes of this Law;
Chapter 5 Customer Due Diligence;
Chapter 6 Internal Legal Acts of Financial Institutions and Internal Compliance Unit;
Chapter 7 Suspension, Rejection of Suspicious Business Relationships or Transactions and Freezing of Proceeds Linked to Terrorism;
Chapter 8 Supervision of Compliance with Requirements of this Law and Sanctions Imposed for Infringing the Legislation; and
Chapter 9. Transitional Provisions.