Bank of Russia cancels certain letters concerning supervision of credit institutions involved in suspicious transactions

The Bank of Russia cancels its Letter No. 172-T, dated 4 September 2013, ‘On Priority Measures in Banking Supervision’ and Letter No. IN-01-12/23, dated 13 April 2021, ‘On the Criteria Used to Identify Signs of Credit Institutions’ Active Involvement in Cashless and/or Cash Transactions’.

The Bank of Russia issued the said documents to reduce the banking sector’s involvement in suspicious transactions and set out the toolkit, which was relevant at that time.

The consistent decline in the amount of suspicious banking transactions as well as prompt sharing of information about high-risk clients via the Know Your Customer platform has enabled the Bank of Russia to shift its supervisory focus towards enhancing the quality of banks’ internal AML/CFT control procedures and assessing the effectiveness of their activities aimed at preventing suspicious transactions.

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25.11.2025 18.05.00