On Sept. 4, the Senate, the upper house of parliament, approved a law on combating the legalization (laundering) of income. The document has been passed on to the president for signature. One of its provisions requires the verification of suspicious money transfers.
Definition of «suspicious activity» introduced
The law, for example, introduces the concept of «suspicious activity.» Authorities will assess whether an activity is suspicious based on the frequency, amounts and recipients of transfers. If the same amount is received daily into the same account, such transactions will be subject to verification. Further work with them will be...