Translation. Region: Russian Federal
Source: Central Bank of Russia –
An important disclaimer is at the bottom of this article.
The Bank of Russia assessed the risks of money laundering and terrorist financing (ML/FT) in the financial sector over the past 5 years andpublishes a report on the results.
This work is carried out taking into account the recommendations of the Financial Action Task Force on Money Laundering (FATF).
The regulator has formed an assessment of the risk level for each sector of the financial market supervised by the Bank of Russia. The probability of various schemes being manifested in them has been analyzed, and characteristic features of income laundering methods have been identified. This information helps to increase participants' awareness of ML/FT risks and the effectiveness of work to prevent them. Based on this data, the regulator is developing measures to reduce the possible use of financial institutions in illegal activities.
The Bank of Russia conducted a sectoral risk assessment taking into account the results national risk assessments money laundering and terrorist financing.
Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.