Neiva Bank: Personal Compliance Consultants for Businesses

UrBC, Yekaterinburg, November 7, 2019. Neiva Bank now employs personal consultants to help businesses handle all the difficulties to do with the application of the Federal Law No. 115-FZ (‘On Combating Legalisation (Laundering) of Proceeds from Crime and Financing of Terrorism’), the bank’s press service reports.

‘The Ural banks have grown tired of waiting for the Central Bank to see to it that the large-scale locking and blacklisting of companies’ accounts stops. The banking market players must meet the CBR’s regulations and ensure strict financial control over their customers’ accounts, so they started designing and launching their own mechanisms that help reduce the tension involved in dealing with customers. First and foremost, the goal is to enhance the businesses’ awareness of the anti-laundering legislation’s requirements,’ the press service says.

Starting November 6, compliance managers make part of Neiva Bank’s staff to consult businesses on issues to do with the application of the Federal Law No. 115-FZ (‘On Combating Legalisation (Laundering) of Proceeds from Crime and Financing of Terrorism’).

For a monthly fee, a compliance manager will look into a particular customer’s business specifics, analyze the business activity to single out the transactions that may be seen as risky or dubious, and present the customer with a report on the state of affairs.


Other materials on the topic::