Amendments and Additions to the Internal Control Rules for Combating Money Laundering, Terrorist Financing, and Proliferation Financing in Non-Bank Credit Organizations

DECISION OF THE BOARD OF THE CENTRAL BANK OF THE REPUBLIC OF UZBEKISTAN AND THE DEPARTMENT FOR COMBATING ECONOMIC CRIMES UNDER THE PROSECUTOR GENERAL'S OFFICE OF THE REPUBLIC OF UZBEKISTAN

Regarding Amendments and Additions to the Internal Control Rules for Combating Money Laundering, Terrorist Financing, and Proliferation Financing in Non-Bank Credit Organizations

[Registered by the Ministry of Justice of the Republic of Uzbekistan on December 9, 2020, Registration No. 2925-4]

In accordance with the Law of the Republic of Uzbekistan "On the Central Bank of the Republic of Uzbekistan" and the Law of the Republic of Uzbekistan "On Combating Money Laundering, Terrorist Financing, and Proliferation Financing," the Board of the Central Bank of the Republic of Uzbekistan and the Department for Combating Economic Crimes under the Prosecutor General's Office of the Republic of Uzbekistan have decided:

1. Amendments and additions to the Internal Control Rules for Combating Money Laundering, Terrorist Financing, and Proliferation Financing in Non-Bank Credit Organizations, approved by Decision No. 344-V and No. 26 of the Tax, Currency Crimes, and Combating Money Laundering Department of the Board of the Central Bank of the Republic of Uzbekistan and the Department for Combating Economic Crimes under the Prosecutor General's Office of the Republic of Uzbekistan dated August 9, 2017 (Registration No. 2925, September 4, 2017) (Collection of Legislation of the Republic of Uzbekistan, 2017, No. 36, Article 968), shall be made in accordance with the Appendix.

2. This decision enters into force from the date of its official publication.

Chairman of the Central Bank M.B. NURMURATOV
Tashkent city,
November 6, 2020
No. 344-V-4

Head of the Department under the Prosecutor General's Office D.F. RAHIMOV Tashkent city, November 3, 2020 No. 23

APPENDIX
to the Decision of the Board of the Central Bank of the Republic of Uzbekistan dated November 6, 2020, No. 344-V-4 and the Decision of the Department for Combating Economic Crimes under the Prosecutor General's Office of the Republic of Uzbekistan dated November 3, 2020, No. 23

Amendments and Additions to the Internal Control Rules for Combating Money Laundering, Terrorist Financing, and Proliferation Financing in Non-Bank Credit Organizations

1. In paragraph 2:
   the twentieth subparagraph shall be stated in the following wording:
   "high-ranking foreign officials — persons appointed or elected on a permanent, temporary, or special mandate in the legislative, executive, administrative, or judicial bodies of a foreign state, including its military structures, or in an international organization, who perform organizational and managerial functions and are authorized to perform actions of legal significance, as well as high-ranking managers of foreign state enterprises, prominent politicians of a foreign state, and prominent members of political parties (including former ones);";

the twenty-sixth subparagraph shall be stated in the following wording:
"third party — organizations specified in Article 12 of the Law of the Republic of Uzbekistan "On Combating Money Laundering, Terrorist Financing, and Proliferation Financing" registered in the Republic of Uzbekistan and carrying out operations with funds or other property;";

the twenty-seventh subparagraph shall be added with the following content:
"unincorporated foreign entity — an organizational structure (funds, partnerships, joint ventures, trusts, collective investments, and/or other forms of fiduciary management) established in accordance with the legislation of a foreign state without forming a legal entity, having the right to carry out activities aimed at obtaining income (profit) for the benefit of its participants (partners, trustees, or other persons) or other beneficiaries."

2. The following paragraph 28-1 shall be added:
   "28-1. The requirements established by these Rules for legal entities shall apply to unincorporated foreign entities."

3. Paragraph 34 shall be supplemented with the sixth subparagraph with the following content:
   "Overseas branches, representative offices, and agencies of non-bank credit organizations must comply with the internal rules of the non-bank credit organization in implementing measures to combat money laundering, terrorist financing, and proliferation financing, if the legislation of the country where they are located establishes lighter internal control measures for the internal rules of the non-bank credit organization."

4. In paragraph 40:
   subparagraph "a" shall be stated in the following wording:
   "a) Registered persons or organizations owned or controlled by a Registered person, persons who are direct or indirect owners or controllers of the Registered organization;";

subparagraph "g" shall be deleted.

5. The first subparagraph of paragraph 54 shall be deleted.

6. In the first subparagraph of paragraph 66, the words "and service correspondence" shall be replaced with the words ", files for accounts and service correspondence, and the results of any conducted analysis."

7. Appendix 3 shall be supplemented with paragraphs 11 and 12 with the following content:
   "11. Information on the beneficial owner of the customer.

8. Indication that the customer is a high-ranking foreign official (a member of their family or a close person)."

(National Database of Legislative Acts of the Republic of Uzbekistan, December 9, 2020, 10/20/2925-4/1667)