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At May 5 sitting of the NA, the draft law designing Amendments and Addenda to the RA Law on Combating Money Laundering and Terrorism Financing was debated in the first reading.

The initiative sets and expands the scope of the persons who have political influence, including the high-ranking local officials who implement significant functions in the international organizations, as well as the members of their families or persons who are closely interconnected with them. It is proposed to consider the above-mentioned persons as a high-risk criteria of money laundering and terrorism financing, undertaking measures stipulated by the law for that.

The concept “financing of the proliferation of weapons of mass destruction” is clarified, suspicious transactions or the competence on suspending the business relations are removed from the range of competences of the Central Bank, it is reserved to the Financial Monitoring Center (FMC).

“The relations referred to giving information to the criminal prosecution bodies are subjected to additional regulation,” Nerses Yeritsyan concluded.

The Member of the he Standing (Head) Committee on Financial-Credit and Budgetary Affairs Yeghishe Soghomonyan presented the endorsement of the Committee. According to him, proposals were raised in the committee, part of them were already accepted. Soghomonyan called on the deputies to vote for it.