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Date: 5 months ago   Category: Finances

Bloomberg: the Russian business is expelled from the Cyprian paradise


Two businessmen told the agency that the Cyprian banks which clients they were more than ten years, requested from them documents on origin of means, it was not succeeded to provide them, and accounts had to be closed. As interlocutors of Business FM speak, the Cyprian banks check already hundreds of people of the Photo: depositphotos.com In Cyprus banks close accounts of Russians which were their clients more than ten years. Bloomberg with reference to stories by two Russian businessmen reports about it. According to them, banks within several months requested from them ancient documents about origin of means which they could not provide because of what it was necessary to close accounts. In some cases the Cyprian banks demand from Russians the history of money on accounts of ten-year prescription, the partner of Paragon Advice Group Alexander Zakharov says: Alexander Zakharov the partner of Paragon Advice Group "It is necessary to remind that on May 9 last year to the island there came the delegation representative of the U.S. Treasury under the leadership of Marshall Billingsley — it from this year the chairman of group on the development of measures for counteraction to money laundering famous as FATF. It was recommended to Cyprus to improve standards of counteraction to washing. Of course, it was finished that undesirable are those persons who are related to subsanctions Russian persons. In this regard, of course, Cypriots very strongly changed the attitude towards Russians and at the moment carry out very serious inspections in terms of sources of origin of means and formation of the capital. This check can affect rather long periods, up to ten years. We have documentation period of storage usually five years therefore very few people can provide similar information, it represents complexity certain. In this regard many persons, not only those two persons who anonymously reported in Bloomberg, but, by my calculations already hundreds of people are involved in check actions from the Cyprian banks. And banks rather seriously close accounts of such persons which cannot prove legality of origin of the means". Toughening of requirements of the Cyprian banks is connected only with reduction of practice in compliance with the European legislation, the head of tax practice of International Tax Associates Rustam Vakhitov considers: Rustam Vakhitov the head of tax practice of International Tax Associates "Everywhere there take place processes of toughening of control of purity of origin of means, transparencies in activity of clients of banks. Therefore it is impossible to tell that it something absolutely other than what occurs worldwide. Just traditionally in Latvia, in Cyprus, in some other jurisdictions in practice of the requirement were softer. But the corresponding checks were of regulators at the level, more carefully those recommendations which were issued at the level of the international organizations just forced to observe them. A certain toughening happened on both jurisdictions, but it is connected not with dot, focal pressure — rather, it п

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