INCREASED FOCUS OF ORGANIZATIONS AND OTHER INDIVIDUALS CARRYING OUT TRANSACTIONS WITH FUNDS OR OTHER ASSETS DURING THE CORONAVIRUS OUTBREAK

Published: 30.04.2020

FEDERAL FINANCIAL MONITORING SERVICE

INFORMATION NOTE


INCREASED FOCUS OF ORGANIZATIONS AND OTHER INDIVIDUALS CARRYING OUT TRANSACTIONS WITH FUNDS OR OTHER ASSETS DURING THE CORONAVIRUS OUTBREAK

Due to the spread of COVID-19, credit and other organizations as well as individual entrepreneurs take a range of measures including switching to remote operations and reducing working hours.

Notwithstanding the aforementioned circumstances, financial and other critically important services must be provided remotely to both citizens and legal entities to maintain crucial functions and stability.

Under given conditions, enabling to curb of certain trends related to promotion of the shadow turnover as well as terrorist and extremist activities must remain one of the priorities in line with the preventive measures promptly undertaken by financial and other organizations within the framework of compliance procedures.

Taking into account the need to prioritize such procedures and the risk-based approach to resource allocation, we consider it necessary to pay increased attention to certain areas of risk. Relevant information developed by Rosfinmonitoring and Bank of Russia is available in Personal Accounts on the website.

In order to promptly respond to relevant risks, please remain vigilant and pay attention to suspicious financial transactions.

When sending to Rosfinmonitoring suspicious transaction reports related to risks in the context of COVID-19, a special criterion is introduced in "Additional Information" field for ranking incoming reports.