Amendments to money laundering law are on agenda of the government meeting

Armenia’s government has introduced amendments into the Law on Struggle against Money Laundering and Sponsorship of Terrorism.

The draft amendments are on the agenda of the government meeting scheduled for Thursday.

The new draft contains the concept of “politically influential person.”

According to the draft, a “politically influential person” is an incumbent or former high-ranking government official of a foreign state who performs significant state, political or public functions. On the other hand, average- and low-level public functions are not incorporated in the concept of “politically influential person.”