All banks have connected to the service of the Bank of Russia platform "Know your customer". This is stated in the message of the regulator.
Since July 1, 2022, credit organizations have been receiving information from the Central Bank about which risk group of suspicious transactions can be attributed to legal entities and individual entrepreneurs. Banks can use this data to determine the mode of work with each client.
The resource has information about 7 million legal entities and individual entrepreneurs. Based on its own analytical data, the Bank of Russia has divided them into three groups - low, medium and high risk levels ("green", "yellow" and "red"). At the moment, according to the regulator, about 99% of companies belong to the "green" group, 0.7% belong to the "yellow" group, 0.3% belong to the "red" group.
If clients belong to the "green" group, transactions between them should be carried out unhindered. If both the bank and the regulator have given the client a "red" rating, the bank must immediately establish a ban on almost all of its operations. Entrepreneurs who disagree with their inclusion in a high-risk group can appeal such a decision to the Interdepartmental Commission at the Bank of Russia, which includes Rosfinmonitoring, the Federal Customs Service, the Commissioner for Entrepreneurs' Rights, as well as representatives of banking and business associations.
The platform's information is auxiliary for banks, they should assign the final assessment of the integrity of their clients' business from the point of view of anti-money laundering legislation independently.
