Participation in the 7th meeting of the Regional consultative group in the CIS territory under the Council of financial stability

On December 12, 2017, the Head of Rosfinmonitoring Legal Department Herman Neglyad took part in the regular meeting of the Regional consultative group in the CIS territory under the Council of financial stability which took place in the Russian Ministry of Finance. 

Participants were very interested in financial innovations, opportunities and risks, which bring these financial technologies to the financial sector.  The members of the group also saw the implementation of the CFS Action plan 2015 on risk assessment and regulation of decrease in correspondent banking services in terms of clarifying the regulatory expectations of AML/CFT policy. In particular, attendees discussed the FATF Standards and guidance on application of a risk-based approach to correspondent banking relations. They also focused on problems faced by money services providers when they tried to get access to banking services.