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The PCMLTFA covers the following reporting entities: financial institutions, such as banks, credit unions, caisses populaires, and trust and loan companies; casinos; money services businesses; foreign exchange dealers; life insurance companies; securities dealers; accountants; and real estate brokers and agents. 7 S/AC.37/2003/(1455)/20 The above reporting entities have certain reporting, record-keeping, and client identification requirements. (...) In addition, financial institutions, foreign exchange dealers, and money services businesses must report the transmission or receipt of international wire transfers of $10,000 or more. (...) Any transactions they conduct with reporting entities that satisfy the reporting thresholds (dollar amounts or reasonable suspicion) would be reported to FINTRAC. 8 S/AC.37/2003/(1455)/20 One exception is charity casinos. All charities operating a casino are covered as casinos under the PCMLTFA unless the business is carried in the establishment of a casino for not more than two (2) consecutive days at a time under the supervision of an employee of the establishment.

However, in the Money Laundering Bill it will be a predicate offence which involves reporting of a suspicious transaction to the FIF. Even precious stone dealers will have an obligation to report any suspicious transaction. (...) As such, lawyers, notaries, other independent legal professionals and accountants, casinos, dealers in precious metals and dealers in precious stones will be subjected to AMWCFT requirements.

Measures to prevent money-laundering (art. 14) Reporting entities (art. 3, para. 1 (4), of the Law on Combating Money-Laundering and Terrorism Financing) include financial institutions, accountants, realtors, notaries, attorneys, dealers in precious metals and stones, casinos and other designated non-financial businesses and professions. (...) Dealers in precious metals and stones are only required to report cash transactions above 5 million drams (approximately $10,500). (...) Supervision of designated non-financial businesses and professions is exercised by the Ministry of Justice for notaries (art. 19 of the Law on the No tarial System), the Chamber of Advocates for lawyers (art. 7 of the Law on the Profession of Advocate), the State Revenue Committee 15 for casinos, organizers of games of chance and auditors (arts. 2, para. 10, and 9 of the Law on games of chance, gambling, Internet gambling and casinos, and art. 21 of the Law on Audit Activity); and the Central Bank of Armenia for accountants, realtors, dealers in precious metals and stones, organizers of auctions and art dealers (art. 29, para. 1, of the Law on Combating Money- Laundering and Terrorism Financing).

Implementation Measures Effectiveness in the protection of financial systems 1.1 The Money Laundering Investigation Unit at the Garda Bureau of Fraud Investigation (Irish F.I.U.) has allocated a Detective Sergeant to deal with issues believed to be connected with the financing of terrorism. (...) These refer to activities in relation to the carrying on of the business of __________________ * Annex is on file with the Secretariat and is available for consultation. 4 S/2004/661 accountant, auctioneer, estate agent, tax advisor; certain activities in relation to solicitors; activities consisting of the provision of services in relation to the purchasing of land, the provision of investment business services or investment advice; the carrying out of trustee or custodian duties for a collective business scheme; the provision of money remittance services; activities of administration companies consisting of the provision of services to collective investment schemes; activities of dealers in high value goods; and activities of operating a casino. (...) These bodies include solicitors, accountants, estate agents, tax advisors, dealers in high value goods, casinos, etc. Under the provisions of Section 57 of the Criminal Justice Act 1994 the Garda Bureau of Fraud Investigation received notification of the following STRs in respect of 2001, 2002, 2003 and to date in 2004: Year STRs 2001 3040 2002 4398 2003 4254 2004 (up to 30/07/04) 2373 The above figures cannot be interpreted in any circumstances as representing the total number of suspicious transactions as such reports are, in the first instance, based on mere suspicion by the designated reporting body.

This sector includes banks, securities dealers, investment fund managers and certain insurance companies. (...) If the situation so requires, the Commission may intervene in the operation of a casino. In addition, if an enforceable decision is not complied with in spite of a notice of default, the Commission may, automatically and at the casino’s expense, enforce the measures ordered and publicize the casino’s refusal to comply with the decision (art. 50, LMJ). The Casinos Act also provides for the imposition of administrative penalties.

The TTU can enter the premises of a financial institution or cash dealer to inspect records and give directions to facilitate an investigation. (...) Cash dealers are defined as: (a) a person who carries on a business of an insurer, an insurance intermediary, a securities dealer or a futures broker; and (b) a person who carries on a business of dealing in bullion, of issuing, selling or redeeming travellers’ cheques, money orders or similar instruments, or of collecting, holding and delivering cash as part of a business of providing payroll services; and S/AC.37/2007/(1455)/2 5 07-27396 (c) an operator of a gambling house, casino or lottery; and (d) a trustee or manager of a unit trust. (...) Under the POCA the definition of Cash dealers includes any person who carries on a business of dealing in bullion.

One of these sectors is the so-called “non-financial businesses and professions area”.18 The FATF is actually considering whether the Forty Recommendations should be extended to cover seven categories of non-financial businesses and professions: casinos and other gambling businesses, dealers in real estate and high value items, company and trust service providers, lawyers, notaries, accounting professionals and investment advisors, given the increased use, by criminals, of professionals and of other intermediaries for obtaining advice or other assistance in laundering criminal funds.19 As regards “casinos and other gambling businesses”, it should be noted that casinos are not allowed to function in Brazil in accordance with Executive Act 9.125/46.20 Act 9613/98, Article 9, Paragraph, VI, explicitly determines that other gambling businesses, namely “bingos” and lotteries, are subject to the requirements of customer identification, record-keeping and suspicious transactions reports, established, respectively, by Chapter 6 and Chapter 7. Council for Financial Activities Control (COAF)21 Resolution no. 03, of June 02, 1999; Resolution no. 05, of July 2, 1999; and Resolution no. 09, of December 200022 have regulated these requirements. 18 See Financial Action Task Force on Money Laundering (FATF). http://www1.oecd.org/fatf/40RecsReview_en.htm. 19 Ibidem. 20 Executive Act 9.125, of 30 April 1946 21 The Council for Financial Activities Control (COAF) is the Brazilian Financial Intelligence Unit (FIU). 22 See Council for Financial Activities Control (COAF). http://www.fazenda.gov.br/coaf/site/p_money.htm. 7 S/2003/356 Act 9613/98, Article 9, Paragraphs X and XI, determines that dealers in real estate and high value items are subject to the requirements of customer identification, record-keeping and suspicious transactions reports, established, respectively, by Chapter 6 and Chapter 7. (...) Article 288 of the Penal Code is stated to deal only with as association of three persons or more for purposes of crime and therefore appears not to meet the requirements of sub-paragraph 2 (a) entirely.

The Gamings Act Regulation 1998 has also extended the 1994 Regulations to Casinos. Regulation 49 thereto requires the casino licensee and any employee to report to the relevant authorities any information or other matter which gives or may give rise to any knowledge or suspicion that a person in the casino is engaged in money laundering. (...) According to the 2001 Directive, Member States must ensure that the obligations laid down in Directive 91/308/EEC7 are imposed, inter alia, on the following legal or natural persons acting in the exercise of their professional activities, namely: 1. auditors, external accountants and tax advisors; 2. real estate agents; 3. notaries and other independent legal professionals, when they participate, whether: (a) by assisting in the planning or execution of transactions for their client concerning the (i) buying and selling of real property or business entities; (ii) managing of client money, securities or other assets; (iii) opening or management of bank, savings or securities accounts; (iv) organisation of contributions necessary for the creation, operation or management of companies; (v) creation, operation or management of trusts, companies or similar structures; or (b) by acting on behalf of and for their client in any financial or real estate transaction; 4. dealers in high-value goods, such as precious stones or metals, or works of art, auctioneers, whenever payment is made in cash, and in an amount of EUR15 000 or more; 5. casinos. (...) Any dealer in arms proper or any other person who sells, transfers or delivers any firearm or ammunition in contravention of the requirements of Section 5 is liable, on conviction, to a fine (multa) of not less than one hundred liri or to imprisonment for a term not exceeding three months.

Governments should also facilitate improvement in the due diligence conducted by the “facilitators” of illicit financial flows, including casinos, real estate agents, lawyers, accountants and company formation agents, through stricter laws requiring the licensing of service providers who form trusts and companies (...) This would extend to requiring real estate and associated financial brokers, as well as other high-end luxury goods dealers, to refuse cash payments above a certain amount; to know who they are doing business with (to keep a record of the identity or beneficial owner); and to report anything suspicious. Also the categories of luxury goods dealers identified by FATF should be expanded to include traders in goods whose value exceeds a given threshold.

Life insurance Companies, Brokers and Agents; ! Securities Dealers, including Portfolio Managers and Investments Counsellors; ! (...) The second report from Mauritius states (at page 7) that “money changers and foreign exchange dealers are regulated under the Foreign Exchange Dealers Act 1995”. (...) Section 3(1) of the Foreign Exchange Dealers Act 19959 provides for specified types of legal persons to carry out the business of a foreign exchange dealer or a money-changer if they obtain the authorization of the Minister to whom responsibility for the subject of finance is assigned.