MOSCOW, April 13 The Bank of Russia plans to launch a service on its website that will allow an unlimited circle of people to check an enterprise for dubious transactions, follows from the regulator’s draft document posted on his website.
«The project proposes to determine the composition of information and the procedure for accessing it using the service «Checking the availability of information on classifying legal entities and individual entrepreneurs as a group of a high degree (level) of the risk of committing suspicious transactions,» the explanatory note says.
In order to receive such information, the user of the service in his request must indicate the TIN of the legal entity, information about the initiator of the request and its purpose, as well as put a mark confirming that the information received will not be transferred to third parties. «Access to information is provided using the service … posted on the website of the Bank of Russia … The Bank of Russia is obliged to provide access to the service to an unlimited circle of persons,» the draft document states.
In an explanatory note, the Central Bank noted that the business community has repeatedly expressed interest in obtaining information about the risk level of legal entities and individual entrepreneurs in the Know Your Client anti-money laundering platform. «In practice, legal entities and individual entrepreneurs, before concluding an agreement with a counterparty or before starting settlements with him, want to have information about the level of risk of his participation in suspicious transactions,» the regulator explained.
The Central Bank accepts proposals and comments on this project as part of its public discussion until April 27, it will enter into force 10 days after official publication.
The regulator announced at the end of last year that it plans to provide businesses with access to its Know Your Customer anti-money laundering platform by mid-2023 to check counterparty risk.