This website uses cookies

This website uses cookies to ensure you get the best experience. By using our website, you agree to our Privacy Policy

International In-house Counsel Journal logoInternational In-house Counsel Journal logo
Back to library search

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.

PLS LogoCopyright & permissions

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

Related Papers

U.S. Plays Catch-up to Close Long-Standing Gaps in Anti-Money Laundering Laws: Part Two: Focus on Real Estate Transactions
Part One of this Article focused on the U.S. Government’s anti-money laundering/contra terrorist financing (“AML”) efforts, certain deficiencies in the 2001 USA Patriot Act, which was enacted following the terrorist...Read more
Portrait image of Bruce Ortwine
Bruce Ortwine
General Counsel (retired), Americas; Adviser, Global Legal and Compliance (Retired), USA
U.S. Plays Catch-up to Close Long-Standing Gaps in Anti-Money Laundering Laws: Part One
The U.S. Government finally seems to begin focusing on closing long-standing and significant gaps in existing anti-money and contra-terrorist financing laws (together, “AML”) that have been in existence for nearly...Read more
Portrait image of Bruce Ortwine
Bruce Ortwine
General Counsel (retired), Americas; Adviser, Global Legal and Compliance (Retired), USA
Conducting Effective Global Anti–Money Laundering Investigations in a Complex Regulatory Environment
Global anti–money laundering (AML) investigations present complex operational and regulatory challenges driven by cross-border transactions, fragmented data sources, varying legal regimes, data protection and privacy requirements, and cultural barriers to...Read more
Portrait image of Fabiana Lacerca-Allen
Fabiana Lacerca-Allen
Chief Compliance Officer, Cipla, USA
Portrait image of Kwanza Burney
Kwanza Burney
Compliance & Risk Professional | M.S.L. Candidate (Fordham Law), Fordham University School of Law, US
Agentic AI and Liability
Agentic AI represents the current frontier of generative AI — and a fundamental shift in what AI systems do. Unlike earlier AI tools that process data or respond to prompts,...Read more
Portrait image of Matthias Artzt
Matthias Artzt
Senior Legal Counsel, Deutsche Bank AG, Germany
Portrait image of John deVadoss
John deVadoss
Co-Founder, NeuralFabric Corp. (acquired by Cisco Systems), USA