The Bank of Russia made changes to the N position 375-P, which reglamentary the Bank’s internal control system over dubious operations of money laundering or terrorist financing.
According to the instructions of the Central Bank, which on 15 March received registration from the Ministry of justice, and on Monday, March 25, was published on the website of the regulator, the powers of banks will be expanded.
In program risk management of legalization (laundering) of incomes, which every Bank must use when making the decision about refusal in carrying out operations, can now include any items that you wish the credit institution itself.
Appropriate amendments of the Central Bank is making in the paragraph 4.9 of the position 375-P “In program risk management of legalization (laundering) of the incomes received by a criminal way, and terrorism financing may include other provisions at the discretion of the credit organization”, – the wording, the Central Bank expands the list of mandatory components of an AML /CFT programmes.
In addition to countering questionable transactions, now the banks will also be obliged to apply measures “increased attention” to customers, which “has increased the risk”, it follows from the instructions of the Central Bank.
While risk criteria banks also define on your own: “based on the types of services offered to customers and other self-determined credit institution factors.” The risk should be evaluated prior to the implementation of services and after they began and the results of monitoring, banks are required to document “at least once in 6 months”, reads the instructions of the Central Bank.
The legal framework for locking is in force since 2001 by the Federal law No. 115, which requires you to check for suspiciousness of all operations for the sum over 600 thousand roubles. Tighter regulation began in 2016, when banks have additional guidelines and law. For example, the right to refuse to conduct transactions and open accounts.
In addition, the credit institution has the right to demand documentary evidence from beneficial owners of accounts and verify all information on suspicious transactions. In particular, explanations will require, if the entrepreneur received a non-payment on the Bank account or spent the money earmarked for your business way.
“Banks that are completely dependent on the Central Bank as the regulator, forced wool all small businesses according to strict criteria,” he lamented in February, authorized under the RF President on protection of entrepreneurs ‘ rights Boris Titov.
According to him, in 99% of cases banks block “accounts of normal companies, which were engaged in normal activities for many years”.
“And some banks said that they can “let go” of your money from your own account, but for 15% of what there is. It’s just extortion, it’s extortion,” complained Titov.
Attempt to negotiate with the Central Bank, according to him, yet without success.
“The regulator has set up a public Commission in the Central Bank, which was to consider these cases. But community members do not have introduced us too, although we have stated and said that we are the same institution that operates at the junction of such problems. We also did not take. They decided behind the scenes to resolve all these issues. In General, the problem remains. And I think that business has disbelieved”, – concluded the Ombudsman.