Business related news with regard to the new Anti Money Laundering and Terrorist Financing Law, effective from 01 January 2018 in Croatia
Pursuant to Article 55 of the Anti Money Laundering and Terrorist Financing Law:
1)A legal or natural person performing a registered activity in the Republic of Croatia may not receive or make a cash payment in the amount of HRK 75,000.00 or higher.
2)The limit referred to in paragraph 1 of this Article shall also apply if the collection or payment is carried out in several mutually obviously connected cash transactions in the amount of HRK 75,000.00 or higher.
For Moro’s clients, this means that the limit on cash transactions for purchasing and selling gold decreased from HRK 105.000,00 to HRK 75.000,00 per person.
DATA COLLECTION
When purchasing and selling investment gold, the company Moro is obliged to collect the following data from the client pursuant to Article 20 of the Anti Money Laundering and Terrorist Financing Law:
Name and surname, place of residence, day, month and year of birth, identification number, identification document name and number, name and country of issuance and citizenship.
NOTIFYING THE OFFICE OF SUSPCIOUS TRANSACTIONS, PERSONS AND ASSETS
The company Moro is not obliged to notify the Office of each performed transaction.
The company Moro is obliged to notify the Office if it recognizes suspicious transactions based on the Anti Money Laundering and Terrorist Financing Law, and is required to submit the collected data as requested by the Office.
Tamara Beljak