it is Planned that it will begin full work in late 2021 to early 2022, the Bank of Russia. The regulator is developing a platform and necessary for its implementation amendments to the legislation. The CB discussed the idea of creating a platform KYC with representatives of business associations. According to the Central Bank, entrepreneurs expect that its implementation will reduce the number of unlawful refusals of banks to conduct transactions and open accounts.
“Banks will use information service, which to them will be shared with risk assessment client reports the Bank of Russia. On the basis of risk will be determined mode of operation with the client (the decision to conduct transactions and open accounts). Customer information will be provided to all banks”.
the Mechanism would work as traffic lights, dividing legal entities into three risk groups, said earlier the Director of Department of financial monitoring and currency control of Bank of Russia Ilya Yasinsky: the operations of companies with a small scoring points will receive the “green light”, transactions of legal entities with higher scores banks will have to pay attention.
“We hope that the result will be a reduced burden on honest businessmen, first and foremost, on small and micro businesses, due to the number of duplicate requests for the same information from different credit institutions, – said Jasinski (his words are in the message of Bank of Russia). In turn, the credit institution will be able to concentrate at work with questionable clients, reduced preventive restrictive measures on the part of credit institutions in identifying minor and technical risks of ML/TF”.
the Platform “Know your customer” was included in the draft of the national plan for economic recovery. According to the versions of the project, which examined “RG”, it should earn by the end of 2021 on the basis of information systems of the Bank of Russia. He has access to the payment systems, banks, law enforcement, etc., it is unclear whether the connection to the platform required for banks, and it is not clear to what extent the risk profile obtained by the company in the system of the Bank of Russia will determine the Bank’s decision to start or refuse the operation, inquiry of additional documents.
