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The State Duma is to consider banning those convicted of money laundry from working in banking for life. Andrey Kozlov, deputy chairman of the Central Bank who was murdered last week, voiced the idea two weeks ago.
Duma deputy Alexander Lebedev suggested amending laws on banking and fighting money laundry. “The Central Bank should have powers to ban certain people from obtaining positions in banking,” he said. The parliament is to discuss the amendments before the end of the week.
Russia’s Central Bank is responsible for approving of senior officials at private banks. Some candidates for the positions are no endorsed if they do not have a degree in law or economics, relevant work experience or if they have been convicted for economic crimes.
A source of Kommersant at the Central Bank said that the bank is anxious to have more restrictions for people “who have once abused a lending agency” to work in banking.
Pavel Medvedev, first deputy head of the banking committee at the Duma, welcomed the initiative but said that “there should be clear guidelines what actions a bank employee may ban him from profession for life.”
Russian banks supported the idea but also noted that criteria for banning bankers for the professions should be clear. They also expressed concern over possible violations that the bill may entail if enforced.
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