The Bank of Russia has cancelled two supervisory letters that set out priority supervisory measures and criteria for identifying credit institutions’ active involvement in suspicious cashless and/or cash transactions, marking a shift in how it targets suspicious-transaction risks in banking supervision. The withdrawn documents are Letter No. 172-T of 4 September 2013 on priority measures in banking supervision and Letter No. IN-01-12/23 of 13 April 2021 on criteria used to identify signs of banks’ active involvement in such transactions. The central bank noted that these tools were designed for the conditions at the time, and that a sustained decline in suspicious transactions and faster sharing of information on high-risk clients via the Know Your Customer platform now supports a supervisory focus on improving banks’ internal AML/CFT controls and assessing how effective banks’ own measures are in preventing suspicious transactions.
Central Bank of Russia 2025-11-25
Bank of Russia cancels supervisory letters on priority measures and criteria for identifying suspicious transaction involvement
The Central Bank of Russia has cancelled two supervisory letters related to identifying banks' involvement in suspicious transactions, reflecting a shift in supervisory focus. The decision follows a decline in suspicious transactions and improved information sharing via the Know Your Customer platform. The central bank will now emphasize enhancing banks' internal Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) controls.