Rosfinmonitoring can access data on transfers through the SBP

      The Russian government has submitted to the State Duma a bill that will expand the powers of Rosfinmonitoring in the field of financial transactions control. According to the proposed amendments, Rosfinmonitoring will have the right to request information from the National Payment Card System on money transfers made through the Fast Payment System and using Mir payment system cards.

      According to the document, the initiative is aimed at improving the effectiveness of the anti-money laundering system. According to the authors, it will speed up inspections and reduce the burden on credit institutions by reducing the number of requests to banks.