Anti Money Laundering and Combatting of Terrorism Financing in Qatar

Designated Non-Financial Businesses and Professions:

Authorized Notaries, lawyers, accountants, and legal accountants, whether sole practitioners, partners or employed professionals within professional firms when they arrange, execute or conduct transactions on behalf of or for their customers in relation to any of the following activities:

1. Purchase or sale of real estate.
2. Management of the customer’s funds, securities or other assets.
3. Management of bank accounts, saving accounts or securities accounts.
4. Organizing contributions for the establishment, operation or management of companies or other entities.
5. Establishment, operation or management of legal persons or legal arrangements, and sale or purchase of business entities.

 

Activities considered Money Laundering:

Whoever intentionally commits any of the following acts shall be deemed to have committed money laundering offence:

• Conversion or transfer of funds, knowing that they are proceeds of a crime or an act of participation in the said crime; with a view to concealing or disguising the illicit source of funds or assisting any person involved in the commission of the crime to evade the legal consequences of his actions.
• Concealment or disguise of the true nature, source, location, disposition, movement, ownership or the rights of funds, knowing that they are the proceeds of a crime.
• Acquisition, possession or use of funds, knowing, at the time of receipt thereof, that they are proceeds of a crime.
• Participation in, association with or conspiracy to commit, attempt, or aid, abet, facilitate, counsel in, cooperate in, or contribute to the commission of any of the acts stipulated in this Article. 

 

Risk-based Approach

Measures and procedures aiming at identifying, assessing, understanding and mitigating the Money Laundering and Terrorism Financing risks.