laundering regulation Reply from Icegold. The regulation did originate from an EU directive - see message from Icegold reproduced below. Darren. ---------- Forwarded message ---------- From: Icegold Support <support@icegold.com> Date: 2 Jan 2008 10:45 Subject: Re: [IG061070621] IceGold support: Anti-money laundering regulation To: Darren Rhodes <darren.rhodes@gmail.com> Hello, Darren Rhodes <darren.rhodes@gmail.com> wrote:

In your news section you say, "Due to the pending adoption of the new version of Estonia's Anti Money-laundering Law ...". I would be grateful if you could pass on details of the money laundering regulation (preferrably in English).

The Estonian AML law has been adopted from EU DIRECTIVE 2005/60/EC (http://europa.eu.int/eur-lex/lex/LexUriServ/site/en/oj/2005/l_309/l_30920051... ) - All EU member countries had to adopt it by the end of 2007. Our law has been signed in parliament on Dec 20th: http://www.riigikogu.ee/?page=en_etapid&op=ems&eid=163492&u=20080102114239 .. and approved by President on Dec 27th: http://president.ee/en/duties/press_releases.php?gid=86520 It will take effect in 10 days after being published in the State Gazette (https://www.riigiteataja.ee/ert/intr/en.htm) which will happen in the next few days. The full text is in Estonian: http://www.riigikogu.ee/?page=pub_ooc_file&op=emsplain&content_type=text/html&u=20080102124617&file_id=216274 .. and the clauses addressing us directly are (i'll try to translate as good as i can): Muisted ' 6. Krediidiasutus ja finantseerimisasutus (2) Finantseerimisasutus kdesoleva seaduse tdhenduses on: 4) alternatiivsete maksevahendite teenuse pakkuja; (4) Alternatiivsete maksevahendite teenuse pakkuja on isik, kes oma majandus- vui kutsetegevuse kdigus ostab, m||b vui vahendab side-, |lekande- vui kliirings|steemi kaudu rahalist vddrtust omavaid vahendeid, mille abil on vuimalik tdita rahalisi kohustusi vui mida saab vahetada kehtiva vddringu vastu, kuid kes ei ole luikes 1 nimetatud isik ega finantseerimisasutus krediidiasutuste seaduse tdhenduses. Definitions ' 6. Credit and financial institutions (2) financial institution in the context of this law is: 4) provider of alternative payment systems (4) Provider of alternative payment systems is a person who - using communications, wiretransfering or clearing system - buys, sells or mediates means having monetary value which can be used to fulfill monetary liabilities or exchanged into valid currency and is not a credit institution as defined in the credit institution law Hoolsusmeetmed ' 15. Krediidiasutuse ja finantseerimisasutuse poolt hoolsusmeetmete kohaldamise erisused (1) Krediidiasutuses vui finantseerimisasutuses konto avamisel vui muu teenuse esmakordsel kasutamisel isiku poolt, kellega krediidiasutusel vui finantseerimisasutusel ei ole drisuhet, tuleb tehingus osaleva vui teenust kasutava isiku isikusamasus tuvastada, viibides isiku vui tema esindajaga samas kohas. (8) Alternatiivsete maksevahendite teenuse pakkuja on kohustatud: 1) tuvastama iga kliendi isikusamasuse drisuhte loomisel ja tehingu tegemisel kliendiga samas kohas viibides, kui selle kliendi tehingute vddrtus kalendrikuus |letab 15 000 krooni vui vurdvddrse summa muus vddringus; Due diligence measures 15. Distinct measures for credit and financial institutions (1) When opening an account or using another service for the first time in a credit or financial instutution, the person's identity must be verified while being in the same place with him (= face to face, customer physically present) (8) provider of alternative payment system is required to: 1) verify every customer's identity in the same place with him when establishing a business relationship or when making a transaction with the amount exceeding 15000 EEK (~1000 EUR) in one month. I hope that answers your question. Sincerely, Mati Malsub Customer Support IceGold -- Key ID:- 0xB76FE0B9 http://pgpkeys.mit.edu:11371/ http://en.scientificcommons.org/