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GAAP.RUNewsAll stand united against money laundering

All stand united against money laundering

Publication date: 30 April 2010

The Federal Financial Monitoring Service, the Bank of Russia, and the Federal Financial Markets Service (FFMS) are together seeking for a solution to the problem of “double reconciliation” of internal control rules in banks that have licenses of professional market participants.

The Federal Financial Monitoring Service (aka “RosFinMonitoring”), the Central Bank (the Bank of Russia), and the Federal Financial Markets Service (FFMS) are together seeking for a solution to the problem of “double reconciliation” of internal control rules against money laundering in banks that have licenses of professional market participants; however, chief of the FFMS Vladimir Milovodov sees no problems here at all.