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Sounds like the type of law that is very loosely enforced.
But Russian money connections, well, you really ask for it. Maybe he can open an account in Belarus ;)
JWestland-
Sounds like the type of law that is very loosely enforced.
If you're enforcing it loosely, you're looking at a very large fine.
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Well it means that you have to do a lot more work to satisfy yourself about the source of funds. Although I'd suggest (cough, HSBC, cough) that work hasn't always been done.
kl
aggi
There are regulations in the UK around giving bank accounts to ‘politically exposed’ individuals.
Essentially anyone whose funding might come from questionable political motives. His connections to Russia would certainly be enough to trigger that.