[gsc] Fwd: [IG061070621] IceGold support: Anti-money

[Darren Rhodes]

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 at icegold.com>
Date: 2 Jan 2008 10:45
Subject: Re: [IG061070621] IceGold support: Anti-money laundering  
regulation
To: Darren Rhodes <darren.rhodes at gmail.com>



Hello,

Darren Rhodes <darren.rhodes at 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_30920051125en00150036.pdf 
)
- 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


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