INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of July 6, 2020 No. 5495-U

About modification of separate regulations of the Bank of Russia concerning requirements to identification by credit institutions and not credit financial credit institutions of clients, representatives of the client, beneficiaries, beneficial owners for the purpose of counteraction of legalization (washing) of income gained in the criminal way and to terrorism financing

Based on the paragraph of the twelfth Item 2 of article 7 of the Federal Law of August 7, 2001 No. 115-FZ "About counteraction of legalization (washing) of income gained in the criminal way and to terrorism financing" (The Russian Federation Code, 2001, No. 33, Art. 3418; 2020, No. 15, Art. 2239):

1. Bring in the Provision of the Bank of Russia of December 12, 2014 No. 444-P "About identification by the not credit financial credit institutions of clients, representatives of the client, beneficiaries, beneficial owners for the purpose of counteraction of legalization (washing) of income gained in the criminal way, and to terrorism financing", registered by the Ministry of Justice of the Russian Federation on January 20, 2015 No. 35594, on September 28, 2016 No. 43856, on March 27, 2020 No. 57870, the following changes:

1.1. The fifth Item 1.2 to state the paragraph in the following edition:

"Not credit financial credit institution identifies representatives of the clients specified in the paragraph the second this Item taking into account features, stipulated in Item 1.3.1 this provision.".

1.2. Item 1.3 in paragraph three "national" to replace the word with the word "credit".

1.3. After Item 1.3 to add with Item 1.3.1 of the following content:

"1.3.1. Not credit financial credit institution has the right not to identify the representative, being sole executive body (head):

the client specified in paragraphs the second - the fifth the subitem 2 of Item 1 of article 7 of the Federal Law;

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