OREANDA-NEWS. July 13, 2012. Promsvyazbank (“PSB”), one of Russia’s largest privately owned banks, today announced that it has become a corporate member of the International Compliance Association (“ICA”), reported the press-centre of Promsvyazbank.

The ICA, founded in the U.K. in 2001, is the only globally recognized international organization that brings together compliance experts. The ICA launched operations in Russia and CIS in 2010.

Through its training programmes for information exchange and continuous professional development the ICA contributes to the development and support of its individual members and companies. The ICA is focused on the training of specialists in areas including compliance and action against money laundering and financial fraud in accordance with leading international practices.

Alexandra Volchenko, First Vice President of PSB, commented: "Compliance is an integral part of our corporate culture which makes the co-relation between the bank’s compliance system and its business objectives so important. Membership in the International Compliance Association will enable us to continue building an effective system of internal control and risk management through sharing experiences with other professionals in this field.”

Membership of the International Compliance Association will also allow PSB access to a number of information resources on compliance.

The ICA is present in more than 55 countries and has regional representative offices in Dubai and Singapore. It includes more than 10,000 members who maintain communication and exchange experience on the basis of ICA. In Russia and CIS currently there are more than 100 ICA members including top and middle managers of major Russian and international companies and financial institutions.