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A bill proposing changes to Federal Law “On Prevention of Legalisation of Criminal Profits (Money Laundering) and Terrorism Financing” was transferred to the RF State Duma.
DATE: July 15, 2015 | AUTHOR: atlawyers
A bill proposing changes to Federal Law “On Prevention of Legalisation of Criminal Profits (Money Laundering) and Terrorism Financing” was transferred to the RF State Duma. According to the Bill, banks will be obliged to check information about clients that are unincorporated foreign structures, i.e. trusts and other such structures. The Bill introduces a special concept of these structures and sets the scope of information to be checked, including information pertaining to its property assets and final beneficiary.