Art. The legal basis for the development of these Internal Rules is Art. 16 of the Law on Measures against Money Laundering (LMML), in connection with Art. 9 of the Terrorism Financing Measures Act (TFMA).
Art.2. The purpose of these Internal Rules is:
1. To help prevent and detect the actions of individuals and legal entities, groups and specialized organizations of organized crime aimed at money laundering and / or terrorist financing;
2. To determine the obligations of “CONSULTICA PROPERTIES” LTD, as obliged under Article 3 , paragraph 2, item 31 of the Law on Measures against Money Laundering (LMML), as well as specific procedures for their implementation;
3. Establish clear criteria for identifying suspicious transactions or transactions and clients related to money laundering and / or terrorist financing;
4. To regulate the collection, processing, storage and submission of information to the Directorate “Financial Intelligence” of the State Agency for National Security.
5. Determine the order and the ways for initial and ongoing training and qualification of the employees of “CONSULTICA PROPERTIES” LTD for the implementation of measures against money laundering and terrorist financing.
Anti-money laundering measures:
Art . The measures for prevention of the actions of clients of “CONSULTICA PROPERTIES” LTD related to money laundering are:
1. Identification of clients, individuals and legal entities and verification of their identification;
2. Identification of the beneficial owner of the client legal entity, and taking appropriate actions to verify its identification in a way that gives sufficient grounds to be considered as the beneficial owner;
3. Collecting information from the client about the purpose and nature of the relationship that has been established or is about to be established with him;
4. Ongoing monitoring of established professional relationships and verification of the transactions performed within these relationships, to what extent they correspond to the available information about the client, his activity and risk profile, incl. clarification of the origin of the funds in the cases specified by law;
5. Disclosure of information about suspicious transactions, transactions and customers in case of suspected money laundering.
6. For the purposes of implementing these rules, a comprehensive assessment should be made to identify and examine the criteria listed in detail in Section II and Section III of these Rules.
Measures against terrorist financing:
Art. (1) In addition to the measures under Art. 3, as far as possible for “CONSULTICA PROPERTIES” LTD, the following anti-terrorist financing measures shall apply in accordance with the Law on Measures against the Financing of Terrorism:
- Refusal to provide brokerage and consultancy services
- Disclosure of information on suspicious transactions, transactions and customers, suspected of financing terrorism.
A: Identification of clients and verification of their identification
Art. (1) “CONSULTICA PROPERTIES” LTD, as obliged under Article 3 , paragraph 2, item 31 of the LMML, shall identify its clients in the following cases:
1. upon establishment of commercial or professional relations on the basis of a written contract or other authorizing document, including email;
2. when performing an operation or concluding a transaction worth over BGN 30,000 or their equivalent in foreign currency;
(2) The identification of the clients shall also be made in the case of performing more than one transaction or transaction not separately exceeding BGN 30,000 or their equivalent in foreign currency, but there is evidence that the transactions or transactions are related.
(H) Customers are identified beyond the above cases where money laundering or terrorist financing is suspected.
Art.6. The identification of clients is carried out as follows:
1. 3a legal entities – by requiring an extract from the relevant register for their current status, and if the person is not subject to registration – a copy of the constituent act. Required information about the person: name, headquarters, address of management, subject of activity or purpose, term of existence (if any) of management and representation bodies, type and composition of the collective management body (board of directors, board of directors). ;
2. 3a natural persons – by requesting an official identity document and registering its type, number, issuer, as well as the three names, address and the unique civic / personal number of the person.
Article 7 (1) If the operation or transaction is carried out through a representative, evidence of representative power is required, after which the representative, the represented person and the connection of the person directly carrying out the transaction to the respective natural or legal person are identified.
(2) If the transaction or transaction is performed for the benefit of a third party without authorization, the third party shall be identified on behalf of and on behalf of whom the transaction or transaction was performed, and the person who performed the transaction or transaction.
Art. 8. When establishing a professional or commercial relationship or conducting an operation or transaction by electronic statement, electronic document or other form without the presence of the client, appropriate measures shall be taken to verify the authenticity of the client’s identification data.
Art. 9. The natural persons who are the actual owners of a client – legal entity are identified.
Art. 10. (1) The identification of the real owner of a client – legal entity, as well as the verification of their identification shall be carried out by using documents, data or information from an independent source (certificate from the relevant register, founding agreement, etc.) from which individuals, real owners are visible.
(2) In the absence of any other possibility, identification may be effected by means of a declaration signed by the legal representative or the plenipotentiary of the legal entity, the conditions and the requisites specified in the LMML.
Art. 11. (1) When a certain transaction falls within the specified in art. In 5 cases of obligatory identification of the client, “CONSULTICA PROPERTIES” LTD first performs the identification of its clients, and then proceeds to carry out the transaction itself.
(2) The identification, including the identification of the natural persons who are the true owners of legal entities, shall be carried out by presenting the items referred to in Art. 6 and Article 10 documents.
B: Client’s risk profile
Art. (1). The information concerning the identification of the customer shall be verified by one or more of the methods listed in Art. 4 of the Rules for the Implementation of the LMIPA. It is used to initially assess the client’s risk profile.
(2). Based on an analysis, “CONSULTICA PROPERTIES” LTD identifies a category of higher risk clients or business relationships that place particular scrutiny on which extended measures apply.
Article 13. (1) The professional relations, operations and transactions with persons from countries which do not or do not fully apply international standards in combating money laundering shall be subject to particular supervision.
(2) Where the operation or transaction under para. 1 there is no logical economic explanation or apparently justifiable reason, as far as possible, additional information is collected about the circumstances surrounding the operation or transaction and its purpose.
Art. 15. Extensive measures are mandatory for clients who hold or have held senior government positions in the Republic of Bulgaria or in a foreign country, as well as for clients who are related to them.
Art. 16. Extended measures for clients may be: 1. requesting additional documents and information from the client;
- collecting information through another client;
- information on the Internet;
- requesting references from their counterparties in the country or abroad or from other persons under Art. 3, para. 2 and 3 of the LMML;
- inspection of the client’s activity, including by visiting his manufacturing or administrative premises or by collecting information from his clients;
Art. 17. Persons carrying out an operation or transaction through or with “CONSULTICA PROPERTIES” LTD of values above the values specified in Article 4, paragraph 7 of the LMML, shall be obliged to declare the origin of the funds.
Art. 18. In cases where the client cannot be identified in accordance with the requirements of the LMML and the acts for its implementation, as well as in case of failure to submit a declaration of origin of the funds under Article 4, paragraph 7 of the LMML, ”CONSULTICA PROPERTIES” LTD. has the right to refuse to perform the operation, the transaction or the provision of the service.
Criteria for Recognizing Suspicious Transactions, Transactions, Sources and Customers
Art. 19. The following shall be considered as doubtful sources of money / property/:
1. Parties not implementing the recommendations of the FATF / Financial Action Task Force /
- Countries with offshore status or designated as tax havens;
3. Countries included in the UN and OF AC restrictive lists, US Treasury Department;
Article 20. The financing of terrorism can be recognized by analyzing the following suspicious transactions, transactions and clients:
1. Transactions on a client’s account that do not correspond to the previous balance sheet of his organization, deposits or withdrawals (cash, checks, money transfers);
2. Transactions involving a large volume of incoming and outgoing transfers, without sufficient documentary justification and without logical or obvious purpose;
3. Transfers between bank accounts of related parties or donations for no apparent reason and without sufficient documentary justification;
4. Donations from countries with offshore status (jurisdictions) or designated as “tax havens”;
5. Anonymously large donations;
6. Using multiple bank accounts to raise funds, which are then transferred to the same foreign beneficiaries;
7. The availability of information that leads to the suspicion that the particular transaction ( s ) or operation (s) have been carried out to finance terrorist activity;
Obligations of the Persons Performing Intermediary Services
Art. 21. Obligations of “CONSULTICA PROPERTIES” LTD., in connection with the prevention of money laundering and terrorist financing:
1. collect, process, store and disclose information about specific transactions or transactions;
2. collect evidence on the ownership of the property subject to transfer by presenting an official document of ownership and, if necessary, other evidence;
3. require information on the origin of the funds subject to the transactions or transactions; the origin of these funds shall be certified by a statement from the client and, if necessary, by other evidence;
4. collect information about their clients and maintain accurate and detailed documentation of their transactions with cash or valuables;
Art. 22. In case of suspicion of money laundering or that transactions or transactions are aimed at terrorist financing, “CONSULTICA PROPERTIES” LTD shall coordinate fully the collection of information on the essential elements and sizes of the transaction or transaction, relevant documents and other identification data, such as the information collected is documented and stored so that it is available to the Financial Intelligence Directorate of the National Security Agency.
Collection, storage and disclosure of information
Art. 23. (1) The accounting, servicing the company shall be collected, processed, stored the information about the clients and the operations performed by them. Information-gathering actions are taken in the presence of the described hypotheses regarding suspicious customers, transactions or transactions.
(2) “CONSULTICA PROPERTIES” LTD prepares a report on a suspicious operation and submits it to the Financial Intelligence Directorate together with all available information on the specific transaction. The data and documents are provided to the Financial Intelligence Directorate.
(3) The information on transactions and transactions in which money laundering and terrorist financing were suspected shall be kept in a logbook, which shall be stamped and certified with the signature of the manager of “CONSULTICA PROPERTIES” LTD..
(4) The information shall be collected under the terms and conditions of the LMML, the LMML, the Law on Measures Against the Financing of Terrorism and these Internal Rules and the obligatory instructions of the President of SANS.
(5) The information collected shall be used only for the purposes of the LMML and the Law on Measures against the Financing of Terrorism.
(6) The stored information and documents shall be submitted at the request of the Financial Intelligence Directorate in original or in a copy.
Art. 24. (1) In case of suspicion of money laundering or terrorist financing, “CONSULTICA PROPERTIES” LTD shall immediately notify the Financial Intelligence Directorate, if possible before the transaction / operation is completed.
(2) In urgent cases, the notification may be made verbally, by telephone or otherwise, and with subsequent written confirmation within 24 hours, duly completed.
Training of Employees
Art. 25. (1) All employees of “CONSULTICA PROPERTIES” LTD. fill out written declarations that they are familiar with the Law on Measures against Money Laundering, the Regulations for its implementation and the Law on Measures against the Financing of Terrorism, as well as with these internal rules and undertake to respect them in the performance of their duties.
(2) The obligations under the preceding subparagraphs should also apply to all new employees after the adoption of these rules.
1. These Internal Rules have been adopted by Order No. 1 / 15.02.2019 by the Manager of “CONSULTICA PROPERTIES” LTD. and shall enter into force immediately.
2. Amendments to the Internal Rules shall be made in the order in which they are adopted.