According to the initiative taken by the agency proposed to oblige companies to disclose information about the owner, up to a certain person. This information will be entitled to require banks, securities market, insurance companies. Such powers as may be given to operators and private pension funds.
In order to make any financial transaction, the company will have to disclose the whole chain of the owners of the company, including those that may affect the actions of the organization and indirectly through affiliate. Those who refuse to do so, banks and other financial institutions will have the right to refuse service.
After signing the contract the banks, for example, will have to provide information about it to the tax authorities. It is learned that the Ministry of Interior fully supports this control measure and believes it will help prevent many of the financial fraud, including money laundering, creating a “one-day firms” and the withdrawal of money through offshore companies.However, the ministry believes that such measures are little protection from illegal financial activities, but will put unnecessary restrictions on honest business people. Representatives of financial institutions are also not happy with the data release.
Detailed news link (in Russian): Банки вынудят бороться с финансовыми преступлениями (translated in English: click here )