The Bank of Russia the evening of February 6 released guidance to banks in connection with the activation schemes of money laundering with the help of judicial decisions and of the staff of the Federal bailiff service (FSSP of Russia).
Central Bank recommends that credit institutions to provide increased attention to all transactions of such customer, and to implement the right to refuse the transactions (under the law No. 115-FZ “On counteraction to legalization (laundering) of incomes obtained in a criminal way and financing of terrorism”. In particular, the regulator recommends that to terminate relationships with clients that twice a year trying to use a scheme of withdrawal of assets, and legalization of illegally obtained income through the judicial scheme.
As previously reported, a key element in the fraud scheme are employees of the Federal bailiff service (FSSP). They legally begin the enforcement proceedings after two legal entities (resident and non-resident) to agree on debt recovery through the arbitration courts or through legal agreements. The funds from the Bank account of the debtor are written off at the expense of service and credited in favor of the claimant on his account, wrote “Kommersant”. As stated in the recommendations of the Central Bank, used Bank accounts in Russia and abroad. According to the scheme came about a year ago, its use has intensified lately. At the same time, it uses the decision as arbitration and ordinary courts.
In addition to recommendations of what to do when identifying the judicial circuits, the Bank of Russia brought in their document and their distinctive features. They are that Bank accounts of debtors and (or) creditors debit transactions typically are not carried out or are irregular. In particular, the payment of taxes or other obligatory payments to the budget system of the Russian Federation from the Bank accounts is not carried out or executed in an amount not exceeding 0.5% of the debit turnover in accounts.
“As a result of implementation of these schemes transactions on cash withdrawal of funds or withdrawal of funds outside the Russian Federation. This situation increases the risk of involvement of credit institutions in the implementation of the legalization (laundering) of income obtained by criminal means and financing of terrorism”, — noted in the Bank of Russia.
This is not the first recommendation of the Central Bank to combat various schemes of withdrawal of assets, and legalization of criminal assets. However, to implement it may be more difficult than other similar recommendations, said one of the bankers working in the field of combating money laundering. “There are no bases for check of decisions of the courts not there to delve into every solution physically impossible, especially if it’s not fake, and bought and decorated a competent for the money paid, the court’s decision. If forgery is likely to track the Bank’s security service, the purchased solution is likely to look quite impressive”, he says.
In such a situation, if there are any complaints from the regulator will need to prove that the real reason for the recognition of the questionable decisions was not. There is another extreme, the source continues . “Fearing claims of the regulator, the Bank may totally refuse to conduct operations for bailiffs, but it is fraught with lawsuits from the recognized unfair by mistake is quite a good customers,” he concludes. In any case, bankers traditionally prescribe to engage in unusual activities, which increases their expenses despite the fact that the effectiveness of the fight against laundering, is questionable, he adds.
However the effect of the recommendations, despite the counter-arguments of the bankers, will, according to lawyers. Partner Tertychny Agabalyan Ivan tertychnyy noted that the recommendations of the Central Bank reduce the opportunity for unscrupulous market participants to claim that they act in good faith and comply with the law. “Thus increase the risks and costs of schemes for the withdrawal of money abroad,” he says.