On June 27, the London branch of Deutsche Bank sent a letter to the government of Russia. "Vedomosti" got acquainted with the text of the letter. In it, Deutsche Bank indicated that it analyzes the services and documents available to the Russian government in the framework of the Know Your Customer (KYC) practice. The latter implies the process of identifying the client and obtaining information about him to prevent money laundering and legalization, as well as the financing of terrorism.
In accordance with the policy of the bank and the requirements of regulators in the jurisdictions in which Deutsche Bank operates, information about customers should be periodically updated, the letter says. Therefore, the bank may require additional documentation from the government. "The inability to obtain the latest information from your company," the Deutsche Bank letter says, "may require us to terminate our business relations." The bank asked the Russian government to contact him: if this does not happen within 30 days, the bank can send a notice of intention to terminate the business relationship. It turns out that the response time expired in July.
The representative of the Ministry of Finance confirmed receipt of the letter, but refused to comment on the details. He added that similar "requests from other banks were not received."
Two officials of the financial and economic bloc reported that the government did not send a reply. But they added that even Deutsche Bank did not receive any more notifications on this score.
One of the officials is puzzled, what other information about himself can the government give to bankers? And he jokes that in response you can send only the Constitution as a charter, and indicate the Russian people as the beneficiary.
A representative of Deutsche Bank in response to questions from Vedomosti reported that "regular formal checks of all partners around the world are standard measures within the framework of KYC procedures."
What operations Deutsche Bank conducted or holds for the Russian government, the letter does not say, and representatives of the bank and the Ministry of Finance did not answer these questions. Two officials of the financial and economic bloc reported that they are also not aware of this.
Perhaps Deutsche Bank was an underwriter or agent for any transactions with government bonds, it is possible that some time ago some kind of mandate was signed to work in the privatization of state property, says Andrey Pozhitkov, development director at UFG Wealth Management. Under European law, in this case, the Russian government becomes a client of the bank, he explains.
Deutsche Bank has repeatedly participated as a bank - the organizer of bond issues, and for a number of issues, he acted as a fiscal agent, confirms the federal official: "At this, his services ceased." Theoretically, this way the government could be on the list of compliance offices, but to ensure that compliance procedures are conducted with respect to those issuing sovereign bonds, this is at least wild, he is surprised.
The request itself is a trivial story: the compliance procedures are tightening every year and the requirements of the London regulator are no exception, says the top manager of the international investment bank. However, he believes that the government remained in the Deutsche Bank database and this letter came to him by mistake. As a rule, banks within the framework of KYC-checks ask their clients - and they can include any structures, including state ones - about legal data and location, client representatives, who can receive instructions on the operations of this client, copies of passports of trusted persons (for example, some individuals may be subject to personal sanctions), lists Protocols. Banks also ask about sources of money, but it is less applicable to states, he notes.
In accordance with the policy of the bank and the requirements of regulators in the jurisdictions in which Deutsche Bank operates, information about customers should be periodically updated, the letter says. Therefore, the bank may require additional documentation from the government. "The inability to obtain the latest information from your company," the Deutsche Bank letter says, "may require us to terminate our business relations." The bank asked the Russian government to contact him: if this does not happen within 30 days, the bank can send a notice of intention to terminate the business relationship. It turns out that the response time expired in July.
The representative of the Ministry of Finance confirmed receipt of the letter, but refused to comment on the details. He added that similar "requests from other banks were not received."
Two officials of the financial and economic bloc reported that the government did not send a reply. But they added that even Deutsche Bank did not receive any more notifications on this score.
One of the officials is puzzled, what other information about himself can the government give to bankers? And he jokes that in response you can send only the Constitution as a charter, and indicate the Russian people as the beneficiary.
A representative of Deutsche Bank in response to questions from Vedomosti reported that "regular formal checks of all partners around the world are standard measures within the framework of KYC procedures."
What operations Deutsche Bank conducted or holds for the Russian government, the letter does not say, and representatives of the bank and the Ministry of Finance did not answer these questions. Two officials of the financial and economic bloc reported that they are also not aware of this.
Perhaps Deutsche Bank was an underwriter or agent for any transactions with government bonds, it is possible that some time ago some kind of mandate was signed to work in the privatization of state property, says Andrey Pozhitkov, development director at UFG Wealth Management. Under European law, in this case, the Russian government becomes a client of the bank, he explains.
Deutsche Bank has repeatedly participated as a bank - the organizer of bond issues, and for a number of issues, he acted as a fiscal agent, confirms the federal official: "At this, his services ceased." Theoretically, this way the government could be on the list of compliance offices, but to ensure that compliance procedures are conducted with respect to those issuing sovereign bonds, this is at least wild, he is surprised.
The request itself is a trivial story: the compliance procedures are tightening every year and the requirements of the London regulator are no exception, says the top manager of the international investment bank. However, he believes that the government remained in the Deutsche Bank database and this letter came to him by mistake. As a rule, banks within the framework of KYC-checks ask their clients - and they can include any structures, including state ones - about legal data and location, client representatives, who can receive instructions on the operations of this client, copies of passports of trusted persons (for example, some individuals may be subject to personal sanctions), lists Protocols. Banks also ask about sources of money, but it is less applicable to states, he notes.
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