{
  "title": "Russian Federation: Financial Sector Assessment Program: Technical Note-Anti-Money Laundering and Combating the Financing of Terrorism",
  "publication": "IMF Staff Country Reports, September 22, 2016",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/russian-federation-financial-sector-assessment-program-technical-note-anti-money-laundering-44287",
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  "summary": "This Technical Note discusses the findings and recommendations made in the Financial Sector Assessment Program for the Russian Federation in the areas of anti–money laundering and combating the financing of terrorism.",
  "sections": [
    {
      "heading": "Key findings",
      "content": "- Some authorities have gained a better understanding of money laundering and terrorism financing risks.\n- Swift finalization of the national risk assessment will further advance that understanding and the use of a risk-based approach by all concerned agencies and reporting entities.\n- Preventive measures related to politically exposed persons and reporting of suspicious transactions were updated and are largely in line with the Financial Action Task Force standards.\n- The definition of politically exposed persons must be further amended, and the effectiveness of the measures should be enhanced."
    },
    {
      "heading": "Policy recommendations and implications",
      "content": "- Finalize the national risk assessment promptly to support wider adoption of a risk-based approach across agencies and reporting entities.\n- Amend the definition of politically exposed persons to address identified gaps.\n- Enhance the effectiveness of preventive measures concerning politically exposed persons and suspicious transaction reporting to align more fully with Financial Action Task Force standards."
    },
    {
      "heading": "Subjects and keywords",
      "content": "- Subjects: Anti-money laundering and combating the financing of terrorism (AML/CFT), Banking, Correspondent banking, Corruption, Crime, Financial services, Legal support in revenue administration, Revenue administration, Terrorism financing\n- Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), authorities' understanding, CFT, CIS state, Correspondent banking, Corruption, CR, customer, ISCR, Legal support in revenue administration, proceeds, responses to question, RF authorities, state, state body, Terrorism financing, TF risk, understanding of ML threat\n\n---\n\n Content in this bundle\n\n- cr16305\n  - cr16305 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr16305 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: September 22, 2016",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781475538434.002",
    "Some authorities have gained a better understanding of money laundering and terrorism financing risks.",
    "Swift finalization of the national risk assessment will further advance that understanding and the use of a risk-based approach by all concerned agencies and reporting entities.",
    "Preventive measures related to politically exposed persons and reporting of suspicious transactions were updated and are largely in line with the Financial Action Task Force standards.",
    "The definition of politically exposed persons must be further amended, and the effectiveness of the measures should be enhanced.",
    "Finalize the national risk assessment promptly to support wider adoption of a risk-based approach across agencies and reporting entities.",
    "Amend the definition of politically exposed persons to address identified gaps.",
    "Enhance the effectiveness of preventive measures concerning politically exposed persons and suspicious transaction reporting to align more fully with Financial Action Task Force standards.",
    "Subjects: Anti-money laundering and combating the financing of terrorism (AML/CFT), Banking, Correspondent banking, Corruption, Crime, Financial services, Legal support in revenue administration, Revenue administration, Terrorism financing",
    "Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), authorities' understanding, CFT, CIS state, Correspondent banking, Corruption, CR, customer, ISCR, Legal support in revenue administration, proceeds, responses to question, RF authorities, state, state body, Terrorism financing, TF risk, understanding of ML threat",
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