The Federal Law aims at the implementation by the Russian Federation of the recommendations of the Financial Action Task Force on Money Laundering (FATF) regarding the data produced by the fourth round of mutual evaluations.
These AML/CFT recommendations require regulating in the Russian Federation activities by foreign structures that have not formed a legal entity, persons acting as professional owners (managers) of the said structures, as well as persons that monitor the actions of such owners (managers) – protectors.
The Federal Law introduces relevant amendments to the Federal Law On Countering Legalisation (Money Laundering) of Criminal Income and the Funding of Terrorism.