(Tbilisi. March 28, 2003. Civil Georgia) – Parliament adopted draft law against money laundering at the session on March 28.
The draft law considers creation of a Financial Monitoring Service (FMS) uniting 4-5 experts. It is planned that the Service will primarily have analytical functions and will not be a prosecuting body.
According to the draft, financial institutions will have to inform the FMS about every transaction, which exceeds 30 thousand Lari (approximately USD 15 000).
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Georgia Risks to Become a Money Laundering Center
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