Banks have the right to refuse to carry out a transaction to a client if their own internal controls suspect that he is laundering money or financing terrorism.
The reason for this is the results of an internal audit. According to Article 7 of Law 115-FZ, banks are required to report every attempt at such a transaction to Rosfinmonitoring.
And then the agency sends the received information to the bolivia business email list Bank of Russia. The regulator distributes it among other credit institutions.
In more detail, this chain looks like this:
an internal bank investigation, based on criteria prescribed by law, found the client suspicious. His transactions resembled money laundering;
the bank blocked the transaction and transferred the information to Rosfinmonitoring;
Rosfinmonitoring reported this to the Bank of Russia, which then disseminated the information to all banks in the country;
other banks may also begin to refuse service to this client.
The motivation of financial institutions is transparent. If they do not conduct internal control or ignore its results, they themselves may be held liable.
What to do if you are the subject of an inspection
The procedure is as follows. Direct checks are carried out by financial organization.
