On April 18, 2017, Rosfinmonitoring hosted a regular meeting of the Compliance Council, an advisory body under the Interagency Committee for Combating Money Laundering and the Financing of Terrorism and Proliferation of Weapons of Mass Destruction. The meeting was attended by the heads of internal control units of major financial institutions.
During the meeting, participants were briefed on Compliance Council's priorities, as well as on the outcomes and problematic issues of information sharing between Rosfinmonitoring and reporting entities in Q1 2017.
In addition, participants discussed the emerging suspicious activity schemes and possible measures to mitigate ML/TF risks.
The meeting participants underscored the importance of conducting a comprehensive analysis of customer transactions and using all information available to assess customer profiles. The application of a flexible approach to compliance will allow officials to rapidly respond to emerging threats brought about by the fast evolving financial technologies and constantly changing ML/TF schemes.
Summarizing the meeting outcomes, Galina Bobrysheva, Head of the Compliance Council and Rosfinmonitoring Deputy Director, endorsed the initiative of the Compliance Council participants to undertake measures aimed at boosting financial inclusion, with the involvement of ITMCFM and network AML/CFT Institute.