The Bank of Russia is considering the options for change in the existing order of access to banking secrecy for the purpose of dealing with the withdrawal of assets from the banks, said in an interview with TASS the head of the regulator Elvira Nabiullina.
“Now, when we identify banks in the fraud, asset Stripping, we pass the materials to law enforcement. However, we are not entitled to transfer the information constituting Bank secrecy, although often asset Stripping, for example, is associated with the use of dummy accounts, affiliates. This restricts the ability of law enforcement to establish evidence of a crime, identifying suspects,” — said Nabiullina.
According to her, if the police will obtain this information, it “will make another step to ensure that the perpetrators of bankers was inevitable.”
In addition, the Bank discussed options for such changes in the laws that will enable us to attract executives of credit institutions accountable for the false reporting. Now according to the current legislation the Bank of Russia is only obliged to issue an order to the Bank to fix accountability, if you find any signs of tampering.
“In General, the authorities concerned support the proposal because of falsified reporting is a really one of the key troubles of our banking system”, — said Nabiullina.
“Banks and so provide all necessary information on requests of law enforcement, including component trade secret,” — said the Chairman of the Board of Nordea Bank Mikhail Polyakov. According to him, this procedure is already established and transparent. The banker found it difficult to answer why the regulator was required to provide the information constituting banking secret, on their own. “Perhaps there is a legal conflict, when the Central Bank requests received from law enforcement agencies, but the Central Bank, by law, cannot disclose all information on the activities of third parties, even though that is technically the regulator,” he suggested.
According to a member of the Board of Directors of the Bank Oleg vyugina, the intention of the Central Bank to disclose banking secrecy in the interests of law enforcement and can relate to situations when the financial institution under investigation or its activities are connected with the investigation of some criminal cases. “I hope that we are not talking about the fact that the regulator will provide information on any request of law enforcement agencies. Still, this requires a good reason,” — said the banker. Otherwise, Vyugin said, there are corruption risks for banks, because stakeholders may try to obtain information about the movement on Bank accounts and other operations through law enforcement.
Earlier, on 6 February, the Bank of Russia has published 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 special attention for all operations of the client and also implement the right to refuse the transactions (provided 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.
“Kommersant” described the essence of this scheme. It is based on artificially created dispute between two legal persons who are in court get the decision on collecting of not existing is actually debt. Bailiffs are legally begin enforcement proceedings, court decisions on recovery of funds from the Bank account of the debtor are written off at the expense of service and lists in favor of claimant on his account, being thus legalized. 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 and its use has intensified lately. While it uses concepts like arbitration and ordinary courts.