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O.G. 426/17.06 - Decision no. 603/2011 of 08/06/2011 for the approval of the Norms regarding the supervision by the National Office for Prevention and Fight against Money Laundering of the application mode of the international sanctions

The present norms regulate the manner of supervision and control of the application by the supervised entities by the National Office for Prevention and Fight against Money Laundering of the international sanctions instituted by the acts provided at art. 1 of the GEO no. 202/2008 regarding the application of the international sanctions with the subsequent amendments and supplementations.  

The following categories of natural and legal persons enter under the incidence of the present norms:

• Financial institutions, except for the nonbanking financial institutions recorded in the special Record
• casinos;
• auditors, natural and legal persons supplying fiscal and accounting consulting, the notary publics, attorneys and other persons exercising liberal juridical professions;
• suppliers of services for the trade companies or other entities, other than those above;
• persons with attributions in the privatization process;
• real estate agents;
• associations and foundations;
• other natural and legal persons selling goods and/or services, only to the extent in which these are based on operations with amounts in cash, in lei or foreign currency, whose minimum limit is represented by the lei equivalent of 15.000 euro, irrespective if the transaction is executed by a single operation or by several operations which seem to have a connection.  

According to the norms the National Office for Prevention and Fight against Money Laundering has to ensure urgently the publication of the provisions of the acts instituting international sanctions compulsory in Romania by displaying them on the own internet web page – www.onpcsb.ro and has to monitor and control the observance of the legislation by the above mentioned persons. 

The persons under the incidence of the present norms have the obligation to send, as soon as possible, to the Ministry of Public Finances – ANAF and the National Office for Prevention and Fight against Money Laundering for information reports regarding the funds and/or the economic resources in the possession or control of the clients, which represent the object of international sanctions, or which belong or are under the control of appointed persons.  

The reports will be sent in the form provided in the Norms regarding the mechanism of transmission to the National Office for Prevention and Fight against Money Laundering of the reports provided at art. 18 of the emergency ordinance, which will be approved by the decision of the plenum of the National Office for Prevention and Fight against Money Laundering and will be published in the Official Gazette.

AT the motivated request of the National Office for Prevention and Fight against Money Laundering, in position of supervisory authority, the persons who fall under the incidence of the present norms have the obligation to provide, as soon as possible, any supplementary data and information, which are relevant; according to the received notification, the obligation of confidentiality cannot be invoked. The incompliance is sanctioned with fine from 2.000 lei to 5.000 for the natural persons and with a fine from 5.000 lei to 10.000 lei for the legal persons.

At the same time, the persons who fall under the incidence of the present norms have to apply the measures of knowing the clients  provided in the Government Decision no. 594/2008. The incompliance represents contravention and is sanctioned with a fine from 5.000 lei to 10.000 lei for the natural persons and with fine from 10.000 lei to 20.000 lei for the legal persons.  

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