The service will allow you to check the risk level of counterparties, third parties, and your own if the user is a business representative. Using the platform will reduce the risks of interaction with unscrupulous companies.
Legal entities and individual entrepreneurs can challenge their status as being in a high-risk group by contacting the Bank of Russia to review the decision.
“It is important that this can only be done by those clients to whom their bank has not applied restrictive measures under anti-money laundering legislation,” the Central Bank noted.
The Bank of Russia launched “Know Your Client” in 2022; the platform has information on 7 million legal entities and individual entrepreneurs. Bank clients are divided into risk groups based on the regulator’s analytical data. There are three groups – with a high risk level (1.3%), medium (1.9%) and low (96.8%).
Cover photo: ImageFlow /
Source: rb.ru
