Vnesheconombank becoming a state corporation under the Federal Law On the Bank for Development in June 2017 predetermines the new mission and role of the Bank.
Vnesheconombank currently focuses on driving
As such, Vnesheconombank is fully committed to address the challenges related to
The AML/CFT Framework designed and put in place by Vnesheconombank is based on the requirements of the Federal Law On
The AML/CFT Framework safeguards Vnesheconombank against criminal proceeds infiltrating the Bank while minimizing the AML/CFT and WMD proliferation risks, ensuring independence of the Internal Control Officer and involvement of employees in related measures.
The Framework is based on the Internal Control Rules for the Purposes of
The Ongoing Monitoring and Control Function set up within the Bank’s organization is responsible for
Relevant programs developed by the Bank outline the roles and govern relations between Vnesheconombank’s business units for the purposes of
All employees of Vnesheconombank involved in (supporting) banking or other transactions regardless of their position take part in the implementation of the Internal Control Rules within their respective competences, take due care of any unusual operations or transactions, and pay special attention to factors that affect customer risk assessment and to operations conducted by high risk level customers.
Vnesheconombank provides systematic training to employees of Vnesheconombank and its subsidiaries on applying Russian laws on
Vnesheconombank develops program «Know your customer» which include:
- Special requirements for opening personal/business/correspondent bank accounts:
- For opening of personal account Vnesheconombank requires documents for identification of an applicant’s personality, address and taxpayer identification number.
- For opening of business account Vnesheconombank requires constitutive documents and documents where an applicant’s name, registration number, permanent and current mailing address, taxpayer identification number appear. When opening business accounts Vnesheconombank pays special attention to the information on the applicant’s senior management and the owners (in case of privately held institutions), expected account activity and other publicly available information.
- For opening of correspondent bank account Vnesheconombank requires constitutive documents and documents where applicant’s name, registration number, permanent and current mailing address, taxpayer identification number, banking licence, list of authorised signatures appear and also information on senior management, the owners (in case of privately held institutions), expected account activity and other publicly available information.
- Vnesheconombank also requests information on correspondent bank’s KYC policies and AML procedures.
- In case of necessity Vnesheconombank requires other additional information for opening and maintaining of personal/business/correspondent bank accounts.
- Identification of transaction profile before opening accounts (volume and main type of transactions).
- Special rules for detecting suspicious transactions (policy of monitoring large volume transactions). Once an unusual activity is detected we make our internal investigation of the reasons of such activity and then if necessary take measures set by Russian AML legislation.
- Monitoring our customer’s accounts.