AML/CFT and Cybersecurity Laws in Russia

Felix I. Lessambo ()
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Felix I. Lessambo: Fordham University

Chapter Chapter 20 in Anti-Money Laundering, Counter Financing Terrorism and Cybersecurity in the Banking Industry, 2023, pp 169-172 from Palgrave Macmillan

Abstract: Abstract The Federal Financial Monitoring Service (FFMS) is the main AML/CTF supervisory authority that conducts financial intelligence investigations, collects data, and monitors transactions of controlled entities in accordance with the AML Law. Credit institutions and non-credit financial institutions are required to implement a wide range of measures aimed at preventing the use of the Russian financial system for illegal purposes. The Personal Data Law covers almost all aspects of data protection. The Bank of Russia regulates the activities of credit institutions and non-credit financial institutions in the field of AML/CFT/CFPWMD and monitors and oversees the compliance with statutory requirements by these entities.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-3-031-23484-2_20

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DOI: 10.1007/978-3-031-23484-2_20

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