Over the past decade, a number of countries, including Russia, have passed laws obliging banks and other corporations to implement anti-money laundering programs, including controls that involve monitoring for suspicious transactions.
The list of entities subject to these requirements is gradually being extended by governments. Today, in Russia, this type of control has to be exercised by credit institutions, stock market participants, insurance and leasing companies, pawnshops, entities organizing lotteries and gambling (including electronic gambling), organizations administering investment funds or nongovernmental pension funds, companies rendering intermediary services in real estate sale-and-purchase transactions, and certain other organizations.
Mandatory measures include verification of a customer‘s identity, maintenance of customer-related documentation, and informing authorized law enforcement bodies of suspicious operations that could be connected to money laundering.
Noncompliance with these requirements can entail large penalties and damage a business’ reputation. In line with the relevant laws and regulations, we offer our clients a comprehensive approach to solving the problems related to these issues.
Deloitte CIS has extensive experience in forensic investigations and in-depth knowledge of the industries that suffer the most from money laundering. This allows us to effectively minimize the risks of such activities, and prevent our clients from suffering the unpleasant consequences that can arise as a result.
Based on the principle that prevention is better than cure, we offer a wide variety of services aimed at counteracting money laundering practices.