March 13, 2018 – An off-site meeting of the Advisory Board of the Interagency Commission for Combating Money Laundering, the Financing of Terrorism and Proliferation of Weapons of Mass Destruction was held at the National Financial Market Council.
Besides members of the Advisory Board, the meeting was attended by representatives of the banking community.
The focus of the meeting, devoted to preparations for the forthcoming FATF evaluation, was on the latest changes to Federal Law No. 115-FZ of 07.08.2001 "On Combating Money Laundering and the Financing of Terrorism and Proliferation of Weapons of Mass Destruction" concerning the introduction of a rehabilitation mechanism for persons refused a request to perform a transaction or enter into a bank account (deposit) agreement, or whose bank account (deposit) agreement with a financial institution was terminated, and the introduction of a remote identification mechanism for financial institution customers. Participants also discussed ways to mitigate high money laundering and terrorist financing risks and heard a report on the implementation of the pilot identification project.