Government wants companies to disclose beneficiaries within 5 days in anti-laundering campaign
Legal entities will be obliged to respond to the requests of the authorized bodies in a specified period of time.
Russian Prime Minister Dmitry Medvedev signed a decree obliging legal entities to provide information on their beneficial owners in a certain time.
Now, according to the government's decree, companies will have to provide data on their beneficiaries at the request of authorized bodies within five days. Upon request, the legal entities must provide documented information about their owners or the measures that have been taken to establish them. Companies can submit their response either in print or online. The measures were taken as part of the ongoing fight against money laundering.
Federal Tax Service, Federal Financial Monitoring Service and their local bodies will deal with beneficiary identification.
Since early February, there has been a preventive operation of the National Police of Ukraine in cooperation with the border and migration services called ‘Migrant’. Its aim is to identify and expel thieves in law and foreign crime lords out of the country.