OREANDA-NEWS. February 05, 2007. Currency exchange points at hotels to require passports from the clients when the total sum of the deal exceeds 50000 leis ($4400), reported the press-centre of National Bank.
 
According to the amendments by the National Bank to the regulation of organization and operation of currency exchange points at hotels, identification and identity control is also performed in case the sum is below the mentioned limit but the point official suspects money laundering of terrorism financing.

If exchange is done on behalf of different person, the cashier should request an identifying document and power of attorney for the deal. If the client does not provide passport or other identifying document, and, depending on the case, power of attorney, and if the data provided are not confirmed or are not trustworthy, the cashier has a right to refuse the exchange. When identifying the client personality, the official of the exchange point fills in the certificate including name, surname, date and place of birth, residence, identity number of ID.

Also the certificate identifies the sum and the name of the currency. The certificate is made in two copies and is preserved no less that 7 years. Besides, the cashier is obliged to inform the Centre for Combating economic Crimes and Corruption and other competent bodies about the suspicious cases. For this aim he fills in a special form.

When identifying doubtful character of operations, the officials of exchange points at hotels are guided by the list of suspicious activities or operations, approved by CCECC. The NBM obliges the currency exchanges at hotels to develop in 2-months term their own programs of combating money laundering and terrorism financing. Also, such points are obliged to inform the CCECC about the name of the official responsible for such programs implementation.