TRNC present the Draft Law on the Prevention of Laundering Proceeds of Crime” to the public

The Draft Law on the Prevention of Laundering Proceeds of Crime” was published in the Official Gazette of the TRNC on Tuesday and presented to the public.

Opinions and suggestions regarding the content of the draft law can be submitted in writing to the Presidency of the Assembly within 20 days following the publication of the draft in the Official Gazette.

The general rationale of the “Draft Law on the Prevention of Laundering Proceeds of Crime” (YTNo: 9/1/2022) is as follows:

“In order to eliminate the deficiencies in the Anti-Money Laundering Law in force, taking into account the needs of the country, in line with international standards, EU Directives and the new recommendations of the Financial Action Task Force (FATF) adopted in 2012, money laundering, terrorism and proliferation, The Draft Law on the Prevention of Laundering Proceeds of Crime has been prepared in order to combat the financing of money.”


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