The Central Bank announced the involvement of 0.5% of Russian companies in cashing out or money laundering
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The share of Russian companies and individual entrepreneurs involved in cashing out or money laundering may be 0.5%. Such an assessment was presented by the Bank of Russia (CB) during the analysis of the new anti-money laundering platform “Know Your Customer” (KYC). This was announced by the head of the department of financial monitoring and currency control of the Central Bank Ilya Yasinsky.
“Know your client” is the platform of the Central Bank, which distributes all Russian legal entities and individual entrepreneurs by risk levels. The service works on the principle of a traffic light. The green indicator is assigned to trustworthy clients, the yellow indicator is assigned to those who have disturbing factors in their activity, the red indicator is assigned to clients who carry out illegal operations.
“The current work of the platform suggests that our forecasts were very accurate. Of course, our figures have slightly adjusted: the share of “green” clients has slightly decreased and amounted to 98.3% as of today,” Mr. Yasinsky said at the conference of the Association of Russian Banks (quoted from RBC).
The head of the department of the Central Bank noted that the share of “red” clients amounted to 0.5% of the total, but at the same time the “yellow” zone expanded, it accounts for 1.2% of companies and entrepreneurs. Mr. Yasinsky clarified that the “yellow” zone of the Central Bank includes “mixing” clients, those who are engaged in economic activities, but at the same time participate in scheme operations to receive additional income.
Initially, according to Yasinsky, the Central Bank predicted that the share of trustworthy banking clients on the KYC platform would be 99%, “yellow” – 0.3%, and the number of the most dangerous in terms of cashing out or money laundering would be about 0.7% of Russian companies and individual entrepreneurs.
On November 15, RBC reported that Rosfinmonitoring intends to oblige banks to share photo and video materials from cameras installed in branches or at ATMs. Thus, the department intends to increase the effectiveness of the fight against illegal cashing and fraud. According to the current legislation, credit institutions can issue data from cameras to law enforcement officers.
More details – in the material “Kommersant FM” » “Financial intelligence has found an approach to scammers”.
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