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Putin and the tale of where the streets have no name

The Russian Federation disabled the access to identification information on the register of companies located in Crimea.

This action has faced major criticism from several organisations across the world.

The information affected included names of foreign and local business owners and investors.

This new measure replace the previous government decision which made it available upon the annexation of the territory to the federation.

Some claim that the decision searches to prevent sanctions over individuals linked to the region.

This comes after the EU supported in unanimous vote the extension of sanctions up to 2020.

Mrs. Valentina Samar (chief editor of Crimea’s Centre for investigative Journalism), notes that since 2015 Crimea has become a a place for “toxic banking and insurance institutions to work”.

Several organisations have mentioned that corruption and money laundering have dramatically expanded in Crimea since the annexation.

Source

https://www.riskscreen.com/kyc360/news/russia-removes-crimean-ownership-data-from-public-register-report/

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Jaime Prieto

Mr. Jaime Prieto is a lawyer experienced in Financial Crime, Anti-Money Laundering and Counter Terrorism Financing having extensive professional experience in both public and private sectors. Mr. Prieto has been a Head of Compliance in the European Union, the Americas and the Caribbean for banks, trust companies, asset managers, Big Four audit and advisory firms, RegTechs, government agencies and other types of financial professionals. In addition to his experience, he has been legal and educational chair in several compliance and sectorial organisations and performed as a teacher and speaker for a number of organisations and in several local and international forums. Furthermore, Mr. Prieto is an experienced Money Laundering Reporting Officer anda Data Protection officer with additional experience in risk management.

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