On December 20, 2017, at the site of Rosfinmonitoring a meeting of the Compliance Council - Advisory body to the Interagency Commission on combating legalization (laundering) of proceeds from crime, financing of terrorism and financing of proliferation of weapons of mass destruction was held.
During the meeting the main outcomes and the problematic issues of informational cooperation in 2017 were discussed. Participants underlined positive results related increased quality and first of all informativity of suspicious transaction reports (STRs) received by Rosfinmonitoring.
In the framework of the meeting the attendees discussed new schemes of suspicious activity, in particular, with the use of notarization of transactions identified by the regional compliance councils.
Also, during the meeting with the members of the Compliance Council, approaches to the national ML/TF risk assessment were discussed, including the private sector's understanding of the main threats, vulnerabilities, negative ML/TF trends and mitigating measures required.
Special attention of members of the Compliance Council was paid to the issues of law enforcement practice in the rehabilitation of clients who had been refused service.
The priority areas of the Compliance Council for the next year were identified as follows: participation of financial institutions in the activities of national risk assessment, further monitoring of application of measures of defensive nature and mechanism of rehabilitation of clients, as well as improving the quality of STRs with a focus on the specific ML/FT risks.
Members of the Compliance Council expressed interest in further training on AML/CFT with the use of the capacities of the network Institute and the International Training and Methodology Center for Financial Monitoring.
In conclusion, Rosfinmonitoring Deputy Director, G. Bobrysheva, noted the active participation of the members of the Compliance Council and its regional offices (in particular, in the Volga, Ural, North-West, Central Federal districts) in the identification of new patterns of illegal activity and the development of criteria of suspicious transactions, formation and testing of risk management models, including in FINTECH/REGTECH projects.
The active participation of members of the Compliance Council in activities organized by the FATF and the EAG contributed to the promotion of Russian approaches and ideas, and exchange in best practices at the international markets.
The next meeting of the advisory body is scheduled for February 2018.