ArmInfo.The Central Bank of Armenia will receive the authority to verify the authenticity of transactions involving gift transactions. At a meeting on October 16, the Commission on Financial, Credit and Budgetary Issues of the National Assembly of the Republic of Armenia issued a positive conclusion on the amendments to the law "On Combating Money Laundering and the Financing of Terrorism" submitted by the Government of the Republic of Armenia.
According to the RA Deputy Minister of Justice Ara Mkrtchyan, according to the bill, in transactions related to the donation of property, the Real Estate Cadastre Committee and notary offices submit reports to the authorized body represented by the Central Bank, which undertakes to verify the legality of these transactions. This measure, as the Deputy Minister emphasized, is aimed at more effective risk management in this area, especially in the context of a sharp increase in cases of gift transactions.
In turn, the chairman of the parliamentary commission Gevork Papoyan cited very remarkable statistics. According to him, in the first half of 2020, 19,979 transactions involving the purchase and sale of property were recorded in the country, 6 thousand of which were donations. Three years later, in the first half of 2023, the number of transactions for the purchase and sale of property increased to 23.7 thousand, 12.6 thousand of which were deeds of gift, more than doubling. "Obviously there are some risks associated with money laundering. The majority of the country's citizens may not worry about innovations, but in no case should they not react to this intensification," Papoyan said.
