THE RESOLUTION OF THE NATIONAL AGENCY OF PERSPECTIVE PROJECTS OF THE REPUBLIC OF UZBEKISTAN, DEPARTMENT ON FIGHT AGAINST ECONOMIC CRIMES UNDER THE PROSECUTOR GENERAL'S OFFICE OF THE REPUBLIC OF UZBEKISTAN

of June 3, 2026 No. 3, on June 1, 2026 No. 25

About approval of Rules of internal control on counteraction of legalization of income gained from criminal activities, to financing of terrorism and financing of distribution of weapons of mass destruction for insurers (overcautious persons) and insurance intermediaries

According to the Laws of the Republic of Uzbekistan "About counteraction of legalization of the income received from criminal activities, to financing of terrorism and financing of distribution of weapons of mass destruction" and "About insurance activity" resolutions of the President of the Republic of Uzbekistan of September 2, 2023 "About additional measures for market development of the capital" and of March 1, 2024 No. PP-108 "About complex measures for further market development of insurance services" the National agency of perspective projects of the Republic of Uzbekistan and Department on fight against economic crimes under the Prosecutor General's Office of the Republic of Uzbekistan decide No. PP-291:

1. Approve Rules of internal control on counteraction of legalization of income gained from criminal activities, to financing of terrorism and financing of distribution of weapons of mass destruction for insurers (overcautious persons) and insurance intermediaries according to appendix No. 1.

2. Recognize invalid some departmental regulatory legal acts according to appendix No. 2.

3. This resolution becomes effective in three months from the date of its official publication.

Appendix №1

to the Resolution of the National agency of perspective projects of the Republic of Uzbekistan of June 3, 2026 No. 3 and Department on fight against economic crimes under the Prosecutor General's Office of the Republic of Uzbekistan of June 1, 2026 No. 25

Rules of internal control on counteraction of legalization of income gained from criminal activities, to financing of terrorism and financing of distribution of weapons of mass destruction for insurers (overcautious persons) and insurance intermediaries

These rules determine procedure for the organization and implementation of internal control by insurers (overcautious persons) and insurance intermediaries for the purpose of counteraction of legalization of income gained from criminal activities, to financing of terrorism and financing of distribution of weapons of mass destruction.

Requirements of these rules extend to insurers (overcautious persons) and insurance intermediaries. At the same time the requirements established by these rules for the staff of the insurers (overcautious persons) are applied to insurance agents.

Chapter 1. General provisions

1. In these rules the following basic concepts are used:

the beneficial owner - the physical person (persons) performing final control over the client or directly or indirectly owning its property, and also physical person for the benefit of which transaction with money or other property is performed;

internal control - activities of insurers (overcautious persons) and insurance intermediaries in proper check of the client, risk management of legalization of income gained from criminal activities, financing of terrorism and financing of distribution of weapons of mass destruction, to identification of suspicious transactions, and also transactions which participants are the persons participating or suspected of participation in terrorist activities, financing of terrorism or financing of distribution of weapons of mass destruction;

internal regulations - the internal document regulating procedure for the organization and implementation of internal control by insurers (overcautious persons) and insurance intermediaries, including their branches;

internal control system - set of actions of the responsible person, and also insurers (overcautious persons) and insurance intermediaries directed to goal achievement and accomplishment of the tasks determined by these rules and internal documents;

the states which are not participating in international cooperation in the field of counteraction of legalization of income gained from criminal activities, to financing of terrorism and financing of distribution of weapons of mass destruction - the states and the territories determined in official declarations of Group on development of financial measures for anti-money laundering which pose threat to international financial system and which have system of counteraction of legalization of income gained from criminal activities, to financing of terrorism and financing of distribution of weapons of mass destruction has strategic shortcomings;

identification of the client - establishment of data on clients on the basis of the information available provided by them documents, in addition confirmed in open sources and databases for the purpose of implementation of proper check of the client;

identification of the beneficial owner of the client - determination of the owner of the client or the legal entity controlling it by studying of structure of property and management based on the constituent documents determined by acts of the legislation (the charter and (or) the foundation agreement, provision);

foreign structure without formation of legal entity - the organizational structure created according to the legislation of foreign state without formation of legal entity and having the right to perform the activities directed to commercialization (profits) for the benefit of the participants (unitholders, principals or other persons) or other beneficiaries (funds, partnership, partnerships, trusts, other forms of implementation of collective investments and (or) trust management);

the client - the physical person or legal entity using services of the insurer (overcautious person) or insurance intermediary in implementation of transaction with money or other property;

public officials are the persons designated or elected constantly, temporarily or on special power, performing organizational and administrative functions and representatives on making of legally significant actions in legislative, executive, administrative or judicial authority, including military structures of foreign state or in the international organization and also the high-ranking heads of the companies of foreign states, the famous politicians and the famous members of political parties of foreign states (including being);

persons close to public officials are persons who are directly connected with public officials on social and occupation characteristics;

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