An Analysis of the EU Experience in Constructing a System of Controller Relationships with MFIs in the Field of AML / CFT and its Application in the Russian Federation

Abstract

The article deals with the experience of regulating the issues of countering the laundering (legalization) of proceeds from crime and financing of terrorism (hereinafter AML / CFT) in microfinance organizations (hereinafter referred to as MFIs) using the example of the EU. The downward trend in the MFI market in Russia is largely due to the violation of AML / CFT legislation. In this connection, there arises the problem of regulating MFIs in this field. A comparative analysis of the system of relations between MFIs and the regulator in the Russian Federation and the EU allows us to conclude that it is impossible to apply the EU experience in the RF system at the moment. The primary measure is to revise interest rates used by MFIs to approach the understanding of MFIs in the EU.