The national commission for financial service markets regulation on October 1 approved the procedure for applying sanctions under the law on preventing and combating money laundering, terrorism and financing the proliferation of weapons of mass destruction, as well as the procedure for issuing relevant claims and controlling their observation.
According to the document, non-observation of laws are to be established during offsite and remote scheduled and off-schedule checks and supervision over the operation of entities subject to primary financial monitoring is to take place. According to the document, the director of the department of the commission makes decisions on applying sanctions or closing a case. Sanctions can be applied within six months after an infringement is revealed, but no later than in three years after it was committed.
According to the document, a case can be closed after documents confirming the fact of absence of infringements are provided, as well as end of the term during which the sanctions can be applied (six months from the moment of revealing the infringement and no later than three years from the moment of committing the crime).