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Exchange Control

During the 2018 a number of regulatory changes has been made in banking, currency, taxation and accounting:


  • Changes in the Federal Law "On exchange regulation and control".
  • In march 2018 new manual by Bank of Russia was enacted: "On the order of providing confirming documents and information on exchange operations by residents and non-residents to the authorized banks, on unified accounting forms and reporting for exchange operations, order and period of execution".
  • Other orders and enactments, that include changes in the order of information sharing with Currency regulation authorities, in a number of Russian Federation laws on taxes and fees, and enactment of a new directive of the CBR that stipulates the chart of ledgers for crediting establishments and order of its usage.


Aforementioned legislative changes demanded the in-depth engagement of the ID Financial Technologies experts for fast modification of the client's IT-systems to comply with the new regulatory requirements.

Implemented Solution

In 2018 "ID Financial Technologies" has launched a wide-scale project of reengeneering / automatization of the processes in the units of the Systemically Important Bank, responsible for the Bank's exchange control function and regulatory reporting to CBR (Central Bank of Russia), FSC (Federal Customs Service), FTA (Federeal Tax Service).


Expected project results: FTE reduction, operating errors reduction, up to 100% STP increase for the unit business processes.