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(Jan 02, 2008) On December 18, 2007, the State Duma (legislature) of the Russian Federation adopted amendments to the Federal Anti-Money Laundering Law that provide for the creation of a national passport control system. To be established before the end of June 2008, this system is designed to review the validity of passports produced by Russian citizens to conduct financial operations. Because stolen, lost, or falsified passports are often used by Russians to conduct financial transactions, the new amendments state that as of July 2008, a transaction will be conducted only when the validity of the identification documents submitted is determined, there is confirmation that the passport bearer is its legal holder, and the legal capacity of the passport holder is not restricted. Passport reviews will be conducted electronically by the agencies of the Internal Affairs Ministry through its regional branches. (Zakonoproekt of Sozdanii Obschfederalnoi Sistemy Proverki Dostovernosti Pasportov Odobren Dumoi (Bill on Creation of the Federal Passport Control System Is Approved by the Duma) (in Russian), INTERFAKS NEWS AGENCY, Dec. 18, 2007.)

Author: Peter Roudik More by this author
Topic: Money laundering More on this topic
Jurisdiction: Russia More about this jurisdiction

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Last updated: 01/02/2008