MOKAS definition

MOKAS means the Unit for Combating Money Laundering, as established under the Prevention and Suppression of Money Laundering Activities Law.

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MOKAS or “Unit” means the Unit for Combating Money Laundering of the Republic of

MOKAS means the Unit for Combating Money Laundering established according to section 54 of the Prevention and Suppression of Money Laundering Activities Law;

Examples of MOKAS in a sentence

You agree and understand that should such an event occurred, i.e the Company reasonably suspects that a client’s funds are proceeds of illegal activity and/or belonging to a third party, the Company will report such event to MOKAS and will include the said transaction to its Anti-Money Laundering monthly prevention report to CySEC.
In case the Company has reasonable suspicion that the Client is involved in money laundering or terrorist financing matters, the Company reserves the right to freeze and/or withheld the funds for the purpose reporting their suspicions to MOKAS and also notifying CYSEC in relation to the suspicious incident.
You agree and understand that should such an event occurred, i.e the Company reasonably suspects that a client’s funds are proceeds of illegal activity and/or belonging to a third party, the Company will report such event to MOKAS.
If the Account Holder fails or refuses to present the required identification data and information within a reasonable period of time, the Bank will have the right to suspend the operation and/or close the Account Holder’s account/accounts, and at the same time, will examine the possibility whether the circumstances merit the reporting of suspicious transactions or activities to the Financial Investigation Unit (MOKAS) or to any other competent authority.
If such a suspicion is raised, the Company is obliged to cease any business relationship with the Client and report the Client to MOKAS if necessary.
Any and all payments to be paid by the Resident under this agreement are to be paid to the Owner, MOKAS MANAGEMENT at ▇▇▇ ▇.

More Definitions of MOKAS

MOKAS means the Unit for Combating Money Laundering of the Republic of Cyprus.

MOKAS means the Unit for Combating Money Laundering which is established under Section 54 of the AML Law.

MOKAS or “Unit” means the Unit for Combating Money Laundering and established under Section 54 of the Law. MOKAS is the Financial Intelligence Unit (“FIU”) of Cyprus, and it is the national centre for receiving, requesting, analysing and disseminating disclosures of suspicious transactions reports and other relevant information concerning suspected money laundering and terrorist financing.

MOKAS. : means the Unit for Combating Money Laundering, which is the Financial Intelligence Unit (FIU) of Cyprus established as the national centre for receiving, requesting, analysing and disseminating disclosures of suspicious transactions reports and other relevant information concerning suspected money laundering and terrorist financing.

MOKAS means the Unit for Combating Money Laundering, the Financial Intelligence Unit (FIU) of Cyprus;