VTB’s anti money laundering and counter terrorist financing policy (AML/CTF) is developed in line with Federal Law No.115-FL dated 07.08.2001 "Measures to Combat Money Laundering and the Financing of Terrorism" and Bank of Russia recommendations.
On measures taken by JSC VTB Bank to prevent money laundering and the financing of terrorism.
Please be advised that in accordance with the Federal Law “On Measures to Combat Money Laundering and the Financing of Terrorism” and Bank of Russia recommendations to enact internal control on money laundering and the financing of terrorism, VTB Bank Group developed and implemented: a consolidated policy on countering money laundering and terrorist financing, as well as international sanctions compliance; VTB Group consolidated management concept of anti-money laundering and counter-terrorist financing internal control; internal control rules on countering money laundering and terrorist financing; and the directive on preparing and submitting information covered by the Federal law "On Measures to Combat Money Laundering and the Financing of Terrorism."
JSC VTB Bank appointed Alexander G. Yakovlev (Phone:
JSC VTB Bank does not establish or maintain relations with non-resident banks that do not have any standing regulatory bodies on the territory of the countries of their incorporation.
JSC VTB Bank has no accounts in banks registered in those countries that do not abide by regulations to counter money laundering and terrorist financing (as can be understood from international sources).
Please be advised that under Bank of Russia Regulation No.
Looking forward to mutually beneficial cooperation.
Declaration by a group of Russian banks
In order to combat the penetration of criminal capital into national economies and to counter the financing of terrorist activities, many countries in the world have created or are in the process of creating national mechanisms to counteract the laundering of criminal income and join forces in this area under the auspices of international organizations.
The Russian Federation also joined the international system of measures aimed at preventing the legalization of criminal income and terrorist funding and is an active participant of the Financial Action Task Force (FATF) and the Egmont Group. Russian law on money laundering and financing for terrorism incorporates major recommendations developed by the international community.
Since many products and services offered by banks are used as instruments for money laundering and in funding terrorism, and given the need to act in accordance with the applicable Russian law in this area —THE SBERBANK OF THE RUSSIAN FEDERATION,
— Sharing experience in the area of internal controls aimed at preventing money laundering and the financing of terrorism;
— Developing joint approaches to implementing the principle "Know your customer";
— Jointly developing methods to identify suspicious transactions and financial schemes and of the standard characteristics of money laundering and terrorism financing transactions;
— Pursuing a united policy towards correspondent banks;
— Developing a unified approach to staff training on the issues of money laundering and funding for terrorism; holding joint training seminars, round tables,
— Preparing joint proposals on improving the legal and normative base regarding money laundering and funding for terrorism and sending them to the Bank of Russia, the Federal Service for Financial Markets and the Federal Service for Financial Monitoring; rendering practical assistance to these institutions in the development of normative documents in this field;
— Developing coordination between these 8 banks on a voluntary basis;
— Developing cooperation with Russian and foreign banks, their groups and associations interested in strengthening and improving Russian and international systems of money laundering and the funding of terrorism.
Other Russian credit institutions that share principles and intentions outlined are welcome to sign up to this Declaration.