On Nov. 15, RUS CB announced temporary halt of violation measures.
RUS CB issued informational letter No. IN-014-12/88 on non-application of RUS CB measures to credit organizations and non-credit financial organizations.
The letter is issued based law No. 355-FZ amending law No. 115-FZ on counteracting legalization (laundering) of criminally obtained incomes and financing of terrorism.
Follows RUS GVT Jul. 2021 law 355-FZ on amendments to certain acts, see #101296.
Law No. 115-FZ Requirements
Firms conducting monetary transactions, are prohibited from performing transactions on behalf of persons conducting transactions online if the domain is prohibited in RUS.
The domain is prohibited if it is registered in in the Unified Register of Domain Names, which contains information prohibited from distribution in the territory of Russia.
To ensure fulfillment of the requirements of law No. 115-FZ, state bodies and RUS CB are working to create mechanism for promptly communicating such information.
Information from the register will be reported in a format that allows the use of the relevant information in the software and hardware complexes of such organizations.
Effectiveness
RUS CB considers it expedient for the period until Apr. 1, 2021 to refrain from applying measures for violations of the requirements of para 2 clause 15 art. 7 of No. 115-FZ.
Mar. 2022 Extension
On Mar. 31, 2022, RUS CB issued information letter on extension of the period for RUS CB to not take measures against credit institutions and non-bank financial institutions.
Time during which RUS CB refrains from taking measures extended to Dec. 31, 2022.
Jan. 2024 Extension
On Jan. 11, 2024, RUS CB issued informational letter IN-013-12/1 announcing that measures outlined in letter IN-014-12/88 have been extended until Dec. 31, 2024.
Regulators
RUS CB
Entity Types
B/D; Bank; CNSM; Corp; MSB
Reference
Lt IN-013-12/1, 1/11/2024; Lt IN-019-12/46, 3/31/2022; Lt IN-014-12/88, 11/15/2021; law No. 355-FZ, 7/2/2021; law No. 115-FZ, 8/7/2001;
