Money laundering through money remittance ... - Council of Europe
Money laundering through money remittance ... - Council of Europe
Money laundering through money remittance ... - Council of Europe
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<strong>Money</strong> Laundering <strong>through</strong> <strong>Money</strong> Remittance and Currency Exchange Providers - 2010 <br />
Table 5 - Sanctions applied to unlicensed /unregistered MR service providers<br />
Country Sanction<br />
Albania Fine or up to 3 years <strong>of</strong> imprisonment<br />
Argentina NA<br />
Armenia Fine or up to 3 years <strong>of</strong> imprisonment or the deprivation <strong>of</strong> the right to hold certain<br />
positions or practice certain activities for up to 5 years<br />
Austria Fine up to EUR 50 000.<br />
Bulgaria Fine up to EUR 5 000<br />
Chile Fine<br />
Croatia NA<br />
Cyprus Fine up to EUR 85 430 or imprisonment up to 2 years<br />
Denmark Fine<br />
Estonia Fine up to EEK 500 000 (appr. EUR 31 956)<br />
Finland Fine<br />
France Fine up to EUR 75 000 and/or imprisonment up to 3 years<br />
Georgia NA<br />
Germany Fine<br />
Hong Kong, China HK$ 50 000 (appr. EUR 717)<br />
Italy Up to 4 years <strong>of</strong> imprisonment<br />
Japan None since only banks may provide <strong>money</strong> transfer service<br />
Latvia Fine<br />
Liechtenstein Fine or imprisonment up to 1 year<br />
Lithuania Public works fine or imprisonment up to 4 years<br />
Macau, China Fine up to MOP 5 000 000 (appr.EUR 451 891)<br />
Malta Fine up to EUR 465 875 and/or imprisonment up to 1 year<br />
Mexico Fine<br />
Moldova There operate no independent <strong>money</strong> <strong>remittance</strong> service providers<br />
Monaco NA<br />
Netherlands Fine<br />
Poland None since only banks and Polish Post may provide <strong>money</strong> transfer service<br />
Romania NA<br />
San Marino Second-degree imprisonment (6 month to 3 years) and a fine as well as by third-degree<br />
disqualification from holding the <strong>of</strong>fices <strong>of</strong> director holder <strong>of</strong> representative powers<br />
internal auditor external auditor actuary liquidator or commissioner in companies or<br />
other bodies with legal personality<br />
Serbia NA<br />
Slovakia Fine up to EUR 333 333 or imprisonment<br />
© 2011 MONEYVAL and FATF/OECD - 65
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