Vladimir Putin Comes Out For Business Being Transparent For State

One should not fear "all kind of instruments which make business transparent for the state," Russian President Vladimir Putin said answering the questions of the participants in the World Economic Forum about the banking reform and struggle against money-laundering. According to him, it is necessary "to formulate rules under which criminal elements will not be able to operate." The president stressed that he supports the struggle against corruption and laundering of illegally earned money. Vladimir Putin also noted that the new body which is now called "financial intelligence" would be called upon to watch observance of bank secrets and closely interact with many agencies, among them the Ministry of Finance.