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AML supervision

Important for persons carrying out commercial activities:

Dealers in precious metals

The Act no. CXXXVI. of 2007 on the prevention of money laundering and financing terrorism (hereinafter: AML) foresees that individuals or companies carrying out commercial activities related to precious metals are obliged to develop internal rules on the prevention of money laundering and submit it for approval in two original examples to the Assay Authority of the Hungarian Trade Licensing Office (referred as: Authority) within 90 days following the commencement of such commercial activities (two original examples, 3000 HUF fee payed).

The AML was modified on 1. July 2013 by the Act LII of 2013, therefore service providers should revise their own internal rules until 1. October 2013.

 

The Authority as a non-binding recommendation - working in cooperation with the Authority's financial intelligence unit, with the agreement of the competent minister – made model regulation provides see on the Office website below:

http://mkeh.gov.hu/nemesfemvizsgalat/PmtUtmutato

Please note that all dealers in precious metals are subject to AML therefore all precious metals trader should revise their own internal rules.

The internal rules may be controlled by the Authority as the supervisory authority on the spot and generally as well, therefore the internal rules have to be kept in the store (in all commercial facility).

The „Registers” menu item includes all dealers in precious metals which got permissions for trade from the Authority.
 


Traders in goods

On 8th September 2012. the Government Decree no. 245/2012. (VIII. 31.) modified the section 7 of the Government Decree no. 320/2010., which appointed the Authority as the generally competent administrative authority to register nationwide those individuals or companies carrying out commercial activities who receive in cash in an amount of HUF three million six hundred thousand ore more.


The AML foresees that the traders in goods are obliged to develop internal rules on the prevention of money laundering and submit it for approval in two original examples to the Authority. (two original examples, 3000 HUF fee payed).

 

The AML was modified on 1. July 2013 by the Act LII of 2013, therefore service providers should revise their own internal rules until 1. October 2013.

 

The Authority as a non-binding recommendation - working in cooperation with the Authority's financial intelligence unit, with the agreement of the competent minister – made model regulation provides see on the Office website below:

http://mkeh.gov.hu/nemesfemvizsgalat/PmtUtmutato

Please note that all traders in goods who are subject to AML should revise their own internal rules.

The internal rules may be controlled by the Authority as the supervisory authority generally, therefore the internal rules have to be kept in the store (in all commercial facility).

The „Registers” menu item includes the list of those traders in goods, which are registered by the Authority. 


Az utolsó módosítás dátuma: 2013-10-01