Pursuant to the Regulations on the Federal Financial Monitoring Service, approved by Presidential Decree No. 808 dated June 13, 2012, the functions of the Federal Financial Monitoring Service are as follows:

• monitor legal entities’ and individuals’ compliance with Russia's anti-money laundering and terrorist financing legislation, and prosecution of violators; 

• submit draft versions of federal laws, presidential and government acts and other documents concerning its activities to the President of the Russian Federation and the Government of the Russian Federation for consideration;

• issue regulations concerning its activities;

• collect, process and analyze data on transactions with monetary funds or other assets that are subject to monitoring in accordance with applicable Russian state and federal laws;

• verify the information on transactions with monetary funds or other assets, including by request of additional customer transaction data from organizations and entities carrying out transactions with monetary funds or other assets in accordance with the established procedure, as well as information about account (deposit) activity of credit institutions' customers;

• identify indicators of potential money laundering and terrorist financing activity in transactions with monetary funds or other assets;

• exercise control over transactions with monetary funds or other assets in accordance with applicable Russian laws and regulations;

• receive, including in response to requests, from the federal bodies of state power, bodies of state power of constituent entities of the Russian Federation, local government bodies and the Central Bank of the Russian Federation the information concerning its activities, except for private personal data;

• assess the threats to national security posed by money laundering and terrorist financing and submit the annual report on such threats and measures to neutralize them to the President of the Russian Federation;

• keep a record of organizations carrying out transactions with monetary funds or other assets without having a designated oversight body in the main field of activities;

• suspend transactions with monetary funds or other assets in accordance with applicable Russian laws and regulations;

• prepare and implement measures aimed at the prevention of violations of Russia's legislation governing the combating of money laundering and terrorist financing;

• coordinate activities of the federal bodies of executive power in areas within its purview;

• work closely with the Central Bank of the Russian Federation on the issues within its purview;

• cooperate and share information on matters within its purview with competent authorities of foreign countries in accordance with international treaties of the Russian Federation or based on the principles of reciprocity;

• engage on behalf of the Russian Federation in cooperation with international organizations, public authorities, businesses and private individuals of foreign states on matters within its purview;

• disseminate information to law enforcement authorities based on sufficient grounds to suspect the transactions (deals) of being linked to legalization (laundering) of criminally gained proceeds or terrorism financing, as well as make disclosures at requests of law enforcement authorities in accordance with applicable federal laws and regulations;

• create a unified information system to cover the designated field of its activities;

• create and maintain the federal database and ensure the methodological unity and coordinated functioning of the information systems existing in the areas of its activity;

• ensure an adequate storage and protection mode for data constituting a state, service, banking, tax, commercial or communication secret, as well as any other confidential information obtained in the course of its activities;

• participate in the development and implementation of international cooperation programs, as well as in the preparation and conclusion of international, including interagency, treaties and agreements governing matters within its purview;

• engage, including on a contractual basis, in the prescribed manner and in strict compliance with the law governing the protection of state or other secrets the services of scientists, experts, research institutes and other organizations to conduct expert examinations, develop training programs and teaching manuals, software and information applications and create information systems in the field of financial monitoring;

• place in the prescribed manner orders and conclude state procurement contracts for the supply of goods, performance of work and provision of services in areas within its purview, as well as to research contracts and other types of civil contracts;

• carry out the functions of a chief steward and recipient of budgetary funds allocated in the federal budget for the needs of Rosfinmonitoring;

• ensure timely and proper processing of citizens' requests, effective decision-making and provision of timely feedback;

• provide mobilization training to Rosfinmonitoring's staff;

• conduct civil defense drills involving Rosfinmonitoring's staff;

• provide vocational, retraining and advanced training and internship opportunities for Rosfinmonitoring's federal civil servants;

• carry out in accordance with the laws of the Russian Federation the work on compiling, storing, recording and using Rosfinmonitoring's archival documents;

• exercise other powers in areas within its purview.