IMF Staff Country Reports

Russian Federation: Financial Sector Assessment Program: Technical Note-Anti-Money Laundering and Combating the Financing of Terrorism

September 22, 2016

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Russian Federation: Financial Sector Assessment Program: Technical Note-Anti-Money Laundering and Combating the Financing of Terrorism, (USA: International Monetary Fund, 2016) accessed November 21, 2024

Summary

This Technical Note discusses the findings and recommendations made in the Financial Sector Assessment Program for the Russian Federation in the areas of anti–money laundering and combating the financing of terrorism. Some authorities have gained a better understanding of money laundering and terrorism financing risks. Swift finalization of the national risk assessment will further advance that understanding and the use of a risk-based approach by all concerned agencies and reporting entities. Preventive measures related to politically exposed persons and reporting of suspicious transactions were updated and are largely in line with the Financial Action Task Force standards. However, the definition of politically exposed persons must be further amended, and the effectiveness of the measures should be enhanced.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Banking, Correspondent banking, Corruption, Crime, Financial services, Legal support in revenue administration, Revenue administration, Terrorism financing

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Authorities' understanding, CFT, CIS state, Correspondent banking, Corruption, CR, Customer, ISCR, Legal support in revenue administration, Proceeds, Responses to question, RF authorities, State, State body, Terrorism financing, TF risk, Understanding of ML threat

Publication Details

  • Pages:

    24

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2016/305

  • Stock No:

    1RUSEA2016008

  • ISBN:

    9781475538434

  • ISSN:

    1934-7685

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