Anti-money laundering law
number Subject	Topic	text Subject
	Authority	Law No. 80 of 2002 promulgating the Anti-Money Laundering Law * amended by Law No. 78 of 2003 __________ In the name of the people, President of the Republic, the People's Assembly has decided the following law, and we have issued it: (Article 1) The provisions of the accompanying Anti-Money Laundering Law shall be applied. (Article Two) The Prime Minister shall issue the executive regulations for the accompanying law, within three months from the date of its publication. (Article Three) This law shall be published in the official gazette and shall be enforced as of the day following the date of its publication. This law shall be stamped with the seal of the state, and enforced as one of its laws . Issued at the Presidency of the Republic on Rabi` al-Awwal 10, 1423 AH, corresponding to May 22, 2002 AD Hosni Mubarak ________________________________________________ * Amended on Rabi` Al-Akhir 8, 1424 AH, corresponding to June 8, 2003 AD
001		In applying the provisions of this law, the following words and expressions shall have the meaning indicated next to them, unless otherwise stipulated: (A) Funds: national currency, foreign currencies, securities and commercial papers, and every value of real estate or movable material or intangible, and all related rights Any of them, and the proven instruments and editors of all of the above. (B) Money laundering: Any behavior involving the acquisition, possession, disposal, administration, safekeeping, exchange, deposit, security, investment, transfer, transfer or manipulation of money of funds if they are the result of a crime stipulated in Article 2 1) of this law with the knowledge of this, whenever the intent of this behavior is to conceal the money, camouflage its nature, source, location, owner, or right holder in it, change its reality, prevent this from being discovered, or obstruct access to a person who committed the crime from which the money was obtained. (C) Financial institutions: 1. Banks operating in Egypt and their branches abroad and branches of foreign banks operating in Egypt 2. Exchange companies and other entities licensed to deal in foreign exchange. 3. Entities that conduct money transfer activities. 4. Entities working in the field of securities. 5. Entities working in the field of receiving funds. 6. Postal Saving Fund. 7. Entities practicing real estate financing and real estate securitization bodies. 8. Entities practicing financial leasing activity. 9. Entities working in factoring activities. -3- 10. Entities carrying out any type of insurance activities, private insurance funds, and insurance brokerage business. 11. Other entities to be specified by a decision of the Prime Minister *. And all of this, whether the one who carries out the activities stipulated in this article is a legal person or a natural person *. (D) Proceeds: Funds directly or indirectly resulting or yielding from committing any of the crimes stipulated in Article (2) of this Law. (E) Unit: The Anti-Money Laundering Unit. (F) The Concerned Minister: The Prime Minister or any minister delegated by him.
002		It is prohibited to launder the money obtained from the crimes of cultivating and manufacturing plants, gems and narcotic substances, importing, exporting and trading in them, crimes of hijacking means of transport and detaining people, and crimes that are terrorism - as defined in Article (86) of the Penal Code - or financing it among its purposes or means of implementation. And the crimes of importing, trading in, and manufacturing of arms, ammunition and explosives without a license, and the crimes stipulated in Chapters 1, 2, 3, 4, 15 and 16 of Book Two of the Penal Code, crimes of theft and rape of money, crimes of fraud and breach of trust, crimes of fraud and fraud, crimes of immorality and prostitution, And crimes against antiquities, environmental crimes related to hazardous materials and waste, and organized crimes referred to in the international agreements to which Egypt is a party, provided that it is punishable in both Egyptian and foreign laws. * Added by Law No. 78 of 2003. ** The phrase “crimes of fraud and breach of trust, and crimes of fraud and deceit” have been added according to Law No. 78 of 2003.
003		An independent unit of a special nature to combat money laundering shall be established in the Central Bank of Egypt, in which the concerned authorities shall be represented, and shall assume the functions stipulated in this law. A sufficient number of experts and specialists in the fields related to the application of the provisions of this law shall be attached to it, and it shall be provided with the necessary qualified and trained workers. The President of the Republic issues a decision to form the unit and its administration system, and the work system and its workers, without being bound by the systems and rules in force in the government, the public sector and the public business sector.
004		The unit is responsible for receiving notifications received from financial institutions about operations suspected of involving money laundering. The unit must establish a database for what it has available information and set the means to ensure that it is available to the judicial authorities and other competent authorities to implement the provisions of this law, as well as exchange this information and coordinate with the control authorities in the country, and with the competent authorities in foreign countries and international organizations, in implementation of the provisions of international conventions. Egypt is a party to it or an application of the principle of reciprocity.
005		The Unit undertakes the investigation and examination of the notifications and information received by it regarding the operations suspected of involving money laundering, and it informs the Public Prosecution of the findings of the investigation of evidence of the commission of a crime stipulated in this law. The unit may request the Public Prosecution to take the precautionary measures as set out in Articles 208 bis (a), 208 bis (b), and 208 bis (c) of the Criminal Procedure Code. The provisions of the last paragraph of Article 3 of Law No. 205 of 1990 regarding the confidentiality of bank accounts added by Law No. 97 of 1992 shall apply to the money laundering crime.
006		The employees of the unit designated by a decision issued by the Minister of Justice upon the request of the Governor of the Central Bank of Egypt shall have the capacity of judicial officers in relation to the crimes stipulated in this law that are related to the work of their jobs.
007		The bodies to which various laws and regulations are entrusted with monitoring financial institutions are obligated to establish and prepare the means to verify the compliance of these institutions with the regulations and rules legally established to combat money laundering, including notification of operations suspected of involving money laundering
008		Financial institutions are obligated to notify the unit of the financial operations suspected of involving money laundering referred to in Article (4) of this law, and they must establish the systems to ensure obtaining identification data and legal status of clients and real beneficiaries of natural persons and legal persons, through Acceptable official or customary means of proof and recording data for this identification. It may not open accounts, link deposits, or accept unknown funds or deposits, or with fake or fictitious names. The executive regulations shall determine the controls to be followed in developing the aforementioned systems, and the Unit shall set the forms to be used for these purposes.
009		Financial institutions are obligated to keep records and documents to record their domestic or international financial operations that include sufficient data to identify these operations, and they must keep these records and documents and records of the data of clients and beneficiaries referred to in Article (8) of this law for a period of no less than five years from The date of the end of the dealings with the institution or from the date of closing the account - according to the circumstances - and it must periodically update these data and place these records and documents at the disposal of the judicial authorities and the competent authorities to apply the provisions of this law upon their request during the examination, investigation, collection of evidence, investigation or trial in any of the Crimes subject to these provisions. Those institutions may keep the microfilms for the aforementioned period in place of the original, and these images shall have the authenticity of the proof if the rules for preparing, preserving and retrieving them are taken into account the rules for which a decision is issued by the unit.
010		Criminal responsibility is negated with respect to whoever undertakes - in good faith - the duty to notify of any of the suspicious operations subject to the provisions of this law, or to provide information or data about them in violation of the rules imposed to ensure their confidentiality, and civil liability is excluded if the belief in such suspicion is based on reasonable grounds .
011		Criminal responsibility is negated with respect to whoever undertakes - in good faith - the duty to notify of any of the suspicious operations subject to the provisions of this law, or to provide information or data about them in violation of the rules imposed to ensure their confidentiality, and civil liability is excluded if the belief in such suspicion is based on reasonable grounds .
012		The entry of foreign currency into or out of the country is guaranteed to all travelers in accordance with the law, provided that its amount is disclosed upon entry if it exceeds twenty thousand US dollars or its equivalent, on a form prepared by the unit in accordance with the rules it sets.
013		Without prejudice to any stricter penalty stipulated in the Penal Code or any other law, the crimes stated in the following articles shall be punished with the penalties stipulated therein.
014		Whoever commits or attempts to commit the money laundering crime stipulated in Article (2) of this Law shall be punished with imprisonment for a term not exceeding seven years and a fine equivalent to twice the money subject of the crime. In all cases, a ruling shall be passed to confiscate the seized funds, or to pay an additional fine equivalent to its value in case it is not possible to seize it or in the event that it is disposed of to a third party in good faith.
015		Whoever violates any of the provisions of Articles (9, 11) of this law shall be punished with imprisonment and a fine of not less than five thousand pounds and not exceeding twenty thousand pounds, or one of these two penalties.
016		In cases in which the crime is committed by a legal person, the person responsible for the actual management of the legal person in violation shall be punished with the same penalties prescribed for the acts committed in violation of the provisions of this law if it is proven that he is aware of it and the crime occurred because of his breach of the duties of his position. The legal person shall be jointly responsible for fulfilling the financial penalties and compensations that were ruled if the crime that occurred in violation of the provisions of this law was committed by one of his workers in his name and in his favor.
017		In the event of multiple criminals in the money laundering crime, if one of them takes the initiative to inform any of the competent authorities, by inference or investigation, of the crime and the rest of the perpetrators therein before any of these authorities first become aware of it, or if he was notified after the authorities became aware of the crime and his notification led to the arrest of the perpetrators or the funds subject of the crime, Whenever these conditions are met, the court shall order the exemption of the reported offender from the imprisonment and fines stipulated in the first paragraph of Article 14 of this law, without the other complementary penalties prescribed in the second paragraph of the same article.
018		The Egyptian judicial authorities shall exchange judicial cooperation with foreign judicial authorities in the field of money laundering crimes, with regard to aid, judicial assignments, handing over of the accused and the convicted and the things, all in accordance with the rules established by bilateral or multilateral agreements to which Egypt is a party, or according to the principle of reciprocity.
019		The bodies referred to in Article (18) of this law may request - in particular - to take the necessary legal measures to track down or freeze the funds subject to money laundering crimes or their proceeds or seize them, all without prejudice to the rights of bona fide third parties.
020		The competent Egyptian judicial authorities may order the implementation of the final criminal judgments issued by the competent foreign judicial authorities to confiscate funds obtained from money laundering crimes and their proceeds, all in accordance with the rules and procedures contained in the bilateral or multilateral agreements to which Egypt is a party. It is also permissible to conclude bilateral or multilateral agreements regulating the disposition of the proceeds of funds finally ruled for confiscation - in money laundering crimes from Egyptian or foreign judicial authorities - that include rules for distributing that proceeds among the parties to the agreement in accordance with the provisions stipulated in it. * This Article has been amended by Law No. 78 of 2003.

 

Law No. 181 of 2008 amending some provisions of the Anti-Money Laundering Law No. 80 of 2002 

In the name of the people 

President of the Republic

The People's Assembly has decided the following law, and we have passed it:

 

Article one

“Replace the texts of Articles 2 and 12 of the Anti-Money Laundering Law promulgated by Law No. 80 of 2002, the following texts: :

Article: 2

“It is prohibited to launder funds obtained from the crimes of cultivating, manufacturing and transporting plants, gems and materialsDrugs are imported, exported, trafficked, and administered or created a place for their use in return, crimes of hijacking means of transport and detention of persons, crimes of terrorism and terrorist financing crimes stipulated in the Penal Code or in any other law, crimes of importing, trafficking in and manufacturing of weapons, ammunition and explosives without a license, and the crimes stipulated in Chapters one, two, three, fourth, fifteenth and sixteenth of Book two of the Penal Code, crimes of stealing and rape of money, crimes of fraud and breach of trust, crimes of fraud and deceit, crimes of concealment of items stolen or obtained from a felony or misdemeanor, crimes receiving money in violation of the provisions of Law No. 146 of 1988, crimes against intellectual property rights, crimes Immorality and prostitution, antiquities crimes, environmental crimes related to hazardous materials and waste, murder and wounding crimes, customs evasion crimes, foreign exchange dealing crimes in violation of the legally established rules, graft crimes, and crimes stipulated in Article 64 of the Capital Market Law issued Law No. 95 of 1992, and the organized crimes referred to in the international conventions and the protocols annexed to them to which the Arab Republic of Egypt is a party and punishable in Egyptian law, and all of this whether the money laundering crime or the aforementioned crimes occurred at home or abroad, whenever they were punished in Both Egyptian and foreign laws.”

 

Article: 12

“Without prejudice to the provisions of Articles 116 and 126 of the Central Bank and Agency LawBanking and cash promulgated by Law No. 88 of 2003, every person must, upon entering or leaving the country, disclose to the customs authorities what he carries in value exceeding ten thousand US dollars or its equivalent in foreign exchange, in terms of foreign exchange and negotiable financial and commercial securities for their bearer. In this regard, the provisions of Article 126 of the Central Bank, Banking and Monetary Agency Law referred to, and disclosure shall be in accordance with the rules and procedures specified by the executive regulations of this law.

The customs authorities, among the judicial control officers, in the event of failure to disclose the duty of disclosure, or providing incorrect data regarding him, may ask the violator about the source of the cash, financial and commercial securities he had referred to, and the purposes for their use, and these authorities shall take measures to seize cash, financial and commercial securities in the cases stipulated. In the previous paragraph, as well as when evidence of the crime of money laundering or terrorist financing has been committed, provided that it sends the minutes it has written in this regard to the competent authority to conduct its affairs therein..”

( second subject )

Replace the text of the first paragraph of Clause 11 of C of Article 1 and the text of the last paragraph

From Article (5) of the aforementioned Anti-Money Laundering Law, The following two texts:

Article 1 / c (Clause 11)

11  Other bodies that it determines, its obligations, and the bodies that assume control “On them, a decision of the Prime Minister.”

Article 5, last paragraph:

“The provisions of the last paragraph of Article 98 of the Central Bank, Banking and Cash System Law promulgated by Law No. 88 of 2003 shall apply to money laundering crimes, terrorist crimes and the terrorist financing crime. .”

(Article Three)

A second and third paragraphs are added to Article 7, and a third paragraph to Article (16) of the Anti-Money Laundering Law promulgated by Law No. 80 of 2002, the texts of which are as follows::

“Article 7, second and third paragraphs:

The unit shall follow up the bodies and institutions referred to in this article with regard to complianceAs stipulated in the previous paragraph, as regulated by the executive regulations.

In all cases, the competent authorities are obligated to inform the unit of the information available to itConcerning the crimes of money laundering and terrorist financing, and the measures it takes in this regard, and what is devolved to itAct in it“.

“Article 16, third paragraph:

The court orders, in the ruling of conviction, to publish the judgment at the expense of the legal personTwo widespread daily newspapers, and the court may decide to suspend the activity of a legal person for a period not exceeding one year“.

Each of the following phrases shall be added to the articles of the aforementioned law indicated next to it:

– The phrase “and other entities” after the phrase “financial institutions” mentioned in Article 4

, – The phrase “or terrorist financing” after the phrase “money laundering” wherever it appears in Articles 4, 5, 7, 8, 11

 

– The phrase “This crime is excluded from the application of the provisions of the second paragraph of Article 32 of the LawPenalties ”until the end of the second paragraph of Article 14

 

– The phrase “These entities and financial institutions are obligated to provide the Unit with the data it requestsThe information and statistics necessary to carry out its functions, as well as about the processes specified by the executive regulations and in accordance with the procedures established by the unit at the end of the first paragraph of Article 7

– The phrase “as well as attempts to conduct these operations” after the phrase “for the financial operations thatIt is suspected that it includes money laundering referred to in Article 4 of this Law ”mentioned inThe first paragraph of Article 8

– The phrase “and terrorist financing crimes” after the phrase “money laundering crimes” mentioned in the two articles18  And 19 in each of the first and second paragraphs of Article 20. 

( Article IV)

This law shall be published in the Official Gazette and shall be enforced as of the day following the date of its publication.

 

This law shall be stamped with the seal of the state, and enforced as one of its laws.