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The RF Federal Financial Monitoring Service has prepared a Bill aimed at ratification of Council of Europe Convention on legalization (laundering) of money obtained by criminal means.
DATE: October 30, 2015 | AUTHOR: atlawyers
The RF Federal Financial Monitoring Service has prepared a Bill aimed at ratification of Council of Europe Convention on legalization (laundering) of money obtained by criminal means. Article 10 of the Convention establishes liability for legal entities for actions on legalization of criminal profits made by individuals holding leading position within a legal entity. The Memorandum to the Bill states that the ratification of Convention will require amendments to the RF Administrative Code in part of introduction of administrative liability for legal entities for these offenses.