Gosfinmonitoring approved the criteria for the risk of legalization of criminal proceeds for banks, insurers and other financial institutions
21.11.2010 Category: News
Criteria for the risk of legalization (laundering) of proceeds from crime or financing of terrorism are approved by the order of the State Financial Monitoring Committee of August 3, 2010 No. 126. They apply to:
- banks, insurance companies, credit unions, pawnshops and other financial institutions;
- payment organizations that are members of payment systems, acquiring and clearing institutions;
- stock exchanges; professional participants of the securities market; AMC;
- postal operators, other institutions that conduct money transfer operations;
- branches and representative offices of foreign economic entities that provide financial services;
- business entities that provide intermediary services for the purchase and sale of real estate;
- traders of precious metals and precious stones, if the amount of the transaction is equal to or exceeds 150 thousand UAH;
- notaries, lawyers, auditors, natural persons, providing accounting services, legal services;
- subjects conducting lotteries and gambling, including virtual casinos;
- Other legal entities that are not financial institutions, but provide individual financial services.
The document provides criteria for assessing the risks by type of client, the geographical location of the country of registration of the customer, by type of goods and services.
With our AML Insighter product, you can use all of these recommendations and build your own model for determining the level of risk of customers , branches or the bank as a whole.
