Rosfinmonitoring imposed banking sector sanctions against 41 countries

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It is particularly related to transactions of individuals or companies who are residents of the countries having imposed sanctions against Russia

Banks will have to inform the Federal Financial Monitoring Service (Rosfinmonitoring) about the transactions of the individuals or companies who are residents of the countries having imposed sanctions against Russia. This is reported by "Izvestia", referring to the letter sent by the agency to the banks.

It is also related to the countries supporting terrorism, drug trafficking and those not fighting against corruption. So, the newspaper says, the list includes 41 countries: the USA, Canada, the European Union (28 states), Australia, Norway, Iran, Syria, Sudan, New Zealand, Argentina, Mexico, Switzerland, North Korea and Jamaica.

If a bank defies these requirements, its actions will be determined as violation of the law "On counteraction to legalization (laundering) of proceeds from crime and terrorist financing." The measure of last resort will be the recall of a license.

According to "Izvestia", according to the requirement of Rosfinmonitoring, before providing services to customers, banks have to find out whether they are residents of the state from the blacklist. According the source of the agency, the list is new; it is made "in accordance with the current political and economic situation in the world and in Russia."

Text and pictures by INTERFAX.RU