Annual Report 2019
ORGANIZING AND
REGULATING THE FRAMEWORK
TO COMBAT MONEY
LAUNDERING AND
TERRORISM FINANCING
T
he 2019 activities for combatting money laundering and
terrorism financing (ML/TF) included conducting analyses in
accordance with national risks, taking preventive measures to
deal with potential suspicious transaction indicators, implementing a
regulatory framework and strengthening national and international
cooperation in compliance with international best practice.
Operational analyses
COOPERATION WITH I
NTERNATIONAL ORGANIZATIONS
INSTITUTIONAL
DEVELOPMENT
OTHER OBJECTIVES OF
THE BANK
The purpose of conducting operational analyses by the
Financial Monitoring Center (FMC) is to detect possible cases of
ML/TF, take, if needed, preventive action, and repot any
grounded suspicion of ML/TF activity to law enforcement
authorities.
The FMC has received and analyzed suspicious transaction
reports from reporting entities. These STR referred to money
laundering and suspicion of predicate offences. Some of the most
common fraud schemes indicated in the analyses were:
attempts to legalize proceeds of crimes committed through
the use of various mass marketing schemes,
financial transactions containing elements typical of
pyramid schemes (financial pyramids),
ANNUAL
REPORT 2019
63
MAIN
CENTRAL BANK OF
OBJECTIVES
THE REPUBLIC OF ARMENIAView entire presentation