PARTICIPATION IN THE CONFERENCE NAMED “LEGALIZATION OF CRIMINAL PROCEEDS IN BUSINESS SECTOR”

Published: 22.10.2020

On October 22, 2020, State Secretary – Deputy Director of Rosfinmonitoring German Neglyad participated online in the fourth International Practical Conference on Legalization of Criminal Proceeds in Business Sector arranged by the “Platform” Autonomous Non-Profit Organization jointly with the Department of Criminal Law, Criminal Procedure and Criminology of Moscow State Institute of International Relations (MGIMO University) under the Ministry of Foreign Affairs, and the Digital Economy and Financial Innovations Center of Moscow State Institute of International Relations (MGIMO University) under the Ministry of Foreign Affairs.

In his welcome speech, German Neglyad emphasized the importance of clarifying public threats posed by money laundering:

“Business does not fully understand that, in the end, the fight against money laundering is an important step towards fair competition by squeezing unscrupulous players out of the market”, pointed out German Neglyad.

The Deputy Director of Rosfinmonitoring also reminded about the results of the fourth round of the Financial Action Task Force (FATF) mutual evaluations, which the Russian Federation successfully underwent in 2019: based on the outcomes of the evaluation process, the Russian national AML/CFT system demonstrated high level of its effectiveness and compliance with the international standards.

The Conference participants also discussed relevant issues associated, in particular, with execution of financial transactions and other deals involving funds and other assets that are known to be acquired by other persons through criminal means, which are carried out for giving the appearance of legitimate possession, use and disposal of such funds or other assets.