LETTER OF THE CENTRAL BANK OF RUSSIA

of March 31, 2008 No. 36-T

About Recommendations about the organization of risk management, by the credit institutions arising when implementing of transactions using systems of Internet banking

According to the Provision of the Bank of Russia of December 16, 2003 N 242-P "About the organization of internal control in credit institutions and banking groups", the registered Ministry of Justice of the Russian Federation on January 27, 2004 N 5489, on December 22, 2004 N 6222 ("the Bulletin of the Bank of Russia" of February 4, 2004 N 7, of December 31, 2004 N 74) one of the purposes of internal control is ensuring effective management of bank risks.

The Bank of Russia submits for use in work Recommendations about the organization of risk management, by the credit institutions arising when implementing of transactions using systems of Internet banking.

This Letter is subject to publication in "the Bulletin of the Bank of Russia".

Appendix

to the Letter of the Central Bank of Russia of March 31, 2008 No. 36-T

Recommendations about the organization of risk management, by the credit institutions arising when implementing of transactions using systems of Internet banking

Section 1. General provisions

1.1. For the purposes of these Recommendations the following concepts are used:

Internet banking - method of the remote bank customer service performed by credit institutions on the Internet (including via the Website (y) on the Internet *) and including information and operational exchange with them.

Information contour of Internet banking - set of the interconnected computer systems, devices and communication channels used in case of customer service (information transfer from credit institution to the client and back with use of the Internet, and also during the processing and storage of this information).

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