ITMCFM has delivered the Role of Reporting Entities in Russia’s AML/CFT/CPF System advanced training program.
Over 100 representatives of partner organizations of the Centre and employees of the Federal Chamber of Lawyers of the Russian Federation attended the lectures.
The training dealt with the following issues:
- national AML/CFT/CPF system, legal framework and system of supervisory authorities;
- organization of internal control;
- procedure for identifying clients, their representatives and beneficiaries; features of client identification in certain sectors and simplified identification;
- assessment of clients’ risks of performing suspicious transactions and taking measures to mitigate risks;
- procedure for identifying suspicious transactions and signs thereof;
- measures regarding high-risk clients.
Mr. Alexander Skotin, the expert lecturer, head of the organizational and analytical office of Supervisory Activities Department of Rosfinmonitoring noted:
‘This program clearly improves professional competence and practical training of the employees of ITMCFM partner organizations who conduct training within the Russian anti-money laundering system.
The Financial Action Task Force (FATF) places particular emphasis on the need to maintain a high level of the private sector’s understanding of current money laundering and terrorist financing risks and the requirements of anti-money laundering legislation.
The Role of Reporting Entities in Russia’s AML/CFT/CPF System advanced training program is instrumental in increasing the level of law-obedience of reporting entities and consequently in mitigating the ML/TF risks identified in the NRA, and also in supporting the high level of the Russian anti-money laundering system in the global context.”
