Vladislav Reznik, chief of State Duma’s banking committee
Photo: Dmitry Dukhanin
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Rosfinmonitoring to Deal With Corruption of Aliens
Russia’s financial watchdog, Rosfinmonitoring, will have to make a special effort to control foreign policymakers that use services of Russia’s banks, broker companies, realtors and insurers. The respective bill has been submitted to the State Duma.
It was Vladislav Reznik, chief of State Duma’s banking committee, that submitted to the State Duma on Friday the amendments to the Act on Opposing Laundering Criminal Revenues and Financing Terrorism. The amendments are needed for Russia’s participation in the FATF Group, which requires establishing particular control over financial transactions of top-ranked foreign bureaucrats and policymakers acting in other countries.
Under the amendments, the organizations that are subject to the Laundering Act (banks, professional players on securities markets, insurers, lease companies, realtors, asset management companies of investment funds, etc.) will take reasonable actions to “reveal amid individuals that they service or accept for servicing foreign public officials.” They will also pay particular attention to transactions of nonresident policymakers and bureaucrats, their spouses and close relatives as well as to any transactions made on their behalf.
www.kommersant.com
All the Article in Russian as of Nov. 06, 2007
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