Reporting Suspicious Clients

Russia’s Ministry of Finance has proposed a bill amending the Code of Administrative Violations. According to the document lawyers, auditors, notaries as well as ‘all those who provide legal, accounting or auditing services’ will be fined if they do not report transactions suspected of being linked to money laundering or even the suspicious behaviour of a client. Consultants will not be allowed to inform the client when they disclose such information to authorities.