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Anti-Money Laundering Functions of Credit Organizations in Russia

April 2011
Money LaunderingBanking & Finance

Abstract

This paper provides you brief observation of anti-money laundering (hereafter-AML) functions assigned to the credit organizations in Russia. AML requirements are vary greatly from region to region. Although Russia follows international practice and FATF recommendations the system of AML measures isn’t the same as in Europe or USA. Russia is out of EU or US jurisdiction and its AML environment has some peculiarities. It can be probably explained by the fact that international regulations have no direct applicability in Russia, this area is regulated by several local state institutions and Russian AML legislation includes different types of norm-setting documents.

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Author

Portrait image of Stella Gukova
Stella Gukova
Head of Legal and Compliance, JCS Sumitomo Mitsui Rus Bank, Russian Federation

Stella Gukova had graduated the State University - High School of economics in 2004 and started her career in banking industry. She worked for several Russian banks supporting various legal matters. In 2008 she joined the British financial group Provident as Legal manager and supported the acquisition of the bank in Russia. In 2009 she accepted the job offer to join Sumitomo Mitsui Rus Bank as Head of Legal. 6 month after she became Head of Legal and Compliance and work in this capacity till now on being in charge of all legal and compliance matters.

Company

JCS Sumitomo Mitsui Rus Bank

JSC Sumitomo Mitsui Rus Bank is the subsidiary of SMBC Group in Russia

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