MORE OBSTACLES TO MONEY LAUNDERING

MOSCOW, February 18 (RIA Novosti) - The Russian government has endorsed a statute on the transfer of information to the federal financial monitoring service (FFMS as similar to the international FATF-Financial Action Task Force for money laundering) by attorneys, notaries and persons doing business in the sphere of legal and accounting services. A relevant document has been signed by Prime Minister Mikhail Fradkov, reports the government press-service.

This move adds up to the efforts to combat legitimization of ill-gotten gains and financing of terrorism.

The statute sets an order of supplying the FFMS with information on doubtful deals and financial transactions. Under this document, attorneys, notaries and entrepreneurs doing business in the sphere of legal and accounting services, if they have any reason to assume that deals and financial transactions have been concluded with the purpose of legitimizing ill-gotten gains, or aimed at financing terrorism, shall notify the FFMS about this.

Information, signed by an attorney, notary or entrepreneur, or the company's authorized person, is rendered in writing. Besides, information can be provided as an electronic document with an electronic digital signature. Such a message includes data required to identify the client, type of operation, the date of its performance and its value. Besides, one should indicate the grounds on which the assumption was made that the client's transaction aimed at money laundering or terrorism financing.