LAW OF TURKMENISTAN

of May 28, 2009 No. 41-IV

About counteraction of legalization of income gained in the criminal way and to terrorism financing

This Law is directed to protection of the rights and legitimate interests of citizens, societies and the states, and also integrity of financial system of Turkmenistan from criminal encroachments by creation of legal mechanism of counteraction of legalization of income gained in the criminal way and to terrorism financing.

Section I. General provisions

Article 1. The main terms and concepts used in this Law

The terms and concepts used in this Law have the following value:

1) income gained in the criminal way - the money and other personal and real estate acquired as a result of making of illegal actions against the objects protected by the Penal statute of Turkmenistan;

2) legalization of income gained in the criminal way - giving of lawful type to ownership, use or the order of the money or other property acquired in obviously criminal way, and use of the specified means or property for implementation of business or other economic activity, including for terrorism financing is equal;

3) property - any subject which can own, use, dispose and acquire legal entities and physical persons in any number, not prohibited by the law and not contradicting moral standards;

4) the suspicious transaction and transaction - the transaction and transaction falling under signs of suspicious transactions and transactions according to this Law and according to the list of signs of suspicious transactions approved by authorized state body that is the transactions and transactions made with money and/or other property which have no clear economic or obvious legal aim and are not characteristic of activities of this legal entity or physical person (persons);

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