04 June 2004 13:11
Russian agency wants wider powers to check major purchases by individuals
Major purchases and expenditures made by Russians may once again become subject to close scrutiny by the state. The
Vedomosti newspaper reports today that the Federal Service for Financial Monitoring has suggested to the State Duma that
checks of major expenditure by individuals should be resumed.
The federal service will pay special attention to property transactions in excess of R3m [0.1m dollars], purchase of
large blocks of shares, and foreign currency transactions in excess of R600,000.
The financial intelligence service is to receive information about spending not only from banks, as it does now, but
also from insurance companies, lawyers, estate agents, public notaries and even jewel and precious stone retailers.
Vedomosti reports that this time the monitoring agency explains the need for new rules by the fight against money
laundering and funding of terrorists.
[NTV Mir] |
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