Tashkent, Uzbekistan, Oct. 3
By Demir Azizov - Trend:
The Department for Fighting Tax and Currency Crimes and Money Laundering at the Uzbek Attorney General's Office made additions to rules of internal control of fighting criminal proceeds laundering and terrorist financing.
The changes cover the persons engaged in operations with precious metals and stones.
Under the changes, from Oct. 1 the persons carrying out operations with precious metals and stones must take measures to check their clients, who offer one-off transaction worth over 300 times of the minimum wage.
Currently, the monthly minimum wage in Uzbekistan stands at 107,635 Uzbek soums (nearly $45 as of Oct. 3).
Thus, the verification will cover the persons who conduct one-time purchase of jewelry worth over $13,600.
These measures should include both the buyers and the sellers of precious metals and stones, as well as the existing clients.