If you were paying close attention to the news from Russia this week, you may have seen that Mr. Putin has dismantled, and reorganized, certain government-owned news services. This in and of itself is not newsworthy, except for the fact that these now-defunct news services often ran information about the Opposition to the government, as well as some negative news, items which you as a due diligence investigator need to assess client and/or Country Risk. The new versions are expected to totally toe the government line.
This is, unfortunately, just one less information source about Russia and Russian entities for compliance officers searching for information relevant to their bank's prospective clients, or potential new business. It has become increasingly difficult in recent years to obtain the bare minimum of business intelligence as is necessary to make an informed compliance decision on new Russian clients coming into your bank.