Translation. Region: Russian Federal
Source: Central Bank of Russia –
Bank of Russia draws attention credit institutions that shadow businesses (online casinos, cryptocurrency exchangers, financial pyramids, drug dealers, etc.) use corporate cards for their payments, which are issued to so-called technical companies.
In order to prevent such risks, the regulator recommends that banks analyze money transfers to corporate cards of technical companies from cards of individuals and vice versa.
Banks are also asked to implement online monitoring of client transactions to promptly identify droppers and technical companies. They must assess whether the analyzed clients have counterparties that have previously transferred money to droppers. If the risk is confirmed, the bank can introduce a limit on individual transactions for crediting money in favor of such a client, including outside working hours.
The Bank of Russia is publishing new methodological recommendations in addition to the existing ones tools on combating money laundering and terrorist financing.
Preview photo: Alexander Kazakov / TASS
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Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect
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