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Article (12)

1. Every concerned person shall designate one of his employees, upon obtaining the approval of the BMA as to the satisfaction of such person, who shall be responsible for reporting Money Laundering crimes.

This designated employee shall have a sound acquaintance with the national legislations and other regulations and directives relating to Money Laundering, including recommendations issued by the Financial Action Task Force (FATF).
2. The designated employee shall undertake the following functions:
a. Ensure the adequacy of the internal controls, procedures and regulations applicable with the Relevant Person to satisfy the requirements and provisions of this Order.
b. Verify that the employees of the Relevant Person have received appropriate training to enable them to perform the duties entrusted to them, according to the provisions of this Order.
c. Monitor the degree of compliance by the employees referred to in the immediately preceding item as to procedures relating to the Prevention of Money Laundering.
d. Monitor the degree of compliance of the Relevant Person with respect to laying down the regulations and procedures necessary for updating the records, and the extent to which such regulations and procedures are regularly applied.
e. Report any suspicious and extraordinary transactions to both the BMA and the Enforcement Unit within a maximum period of twenty-four hours from the time he becomes aware of the situation.
3. The designated employee shall not, before obtaining the prior approval of the BMA and the Enforcement Unit, make any contact with the concerned person, or any other person regarding a certain money laundering case, and he shall at all times follow the instructions issued to him by the BMA or the Enforcement Unit.
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