20TH ANNIVERSARY OF RUSSIA’S FINANCIAL INTELLIGENCE

Published: 01.11.2021

On November 1, the Federal Financial Monitoring Service celebrates its 20th anniversary. The President of the Russian Federation Vladimir Putin expressed his congratulations to the Rosfinmonitoring staff:

Dear friends! Please accept my congratulations on the 20th anniversary of the establishment of the Federal Financial Monitoring Service. Over these years, experts of your Service in close cooperation with law enforcement, oversight and supervisory authorities have conducted great work aimed at making the financial and credit sector more robust, combating illegal financial transactions in all spheres of the national economy, as well as at disrupting channels that provide support to terrorist and criminal groups.

I would like to note that, in many respects, it is your professional competence, energy, and commitment that have made Russia one of the leaders in the international system of combating money laundering. I am confident that in the future you will continue to make a significant contribution to ensuring national security, diligently performing tasks assigned to you, primarily those dealing with wide application of advanced and most efficient ways of combating corrupt practices and money laundering, providing for integrity of budget resources, and mitigating risks of financial crimes. I wish you every success and all the best.

Yury Chikhanchin, Director of the Federal Financial Monitoring Service:

Please accept my congratulations on the significant date - the 20th anniversary of the national system of combating money laundering and terrorist financing, the first head of which became Viktor Zubkov.

In 2001, our country was presented with a challenge, i.e. inclusion in the “black list” of the Financial Action Task Force (FATF). Only by applying combined joint efforts, we have now secured the right to be among the top five most efficient AML/CFT systems in the world.

This whole year can be regarded as anniversary year for the national anti-money laundering system: On August 7, 2001, Federal Law No. 115-FZ “On Combating Legalization (Laundering) of Proceeds of Crime and Financing of Terrorism” was adopted, and on November 1 of the same year the Financial Monitoring Committee was established.

From the very beginning, all participants of the Russian AML/CFT system faced a considerable set of tasks related to combating illegal financial transactions in all areas of the national economy — from dismantling shadow money flows to disrupting channels of providing funding to terrorist organizations and enhancing the transparency of the financial system of the Russian Federation.

Russia has been over and over again demonstrating high results which provide for retaining the leading position in the international anti-money laundering system. And this accomplishment would have been impossible without participation of everyone of us.

Each agency has provided an indispensable input in ensuring integrity of budget resources, decriminalization of real economy sectors, fighting corruption, preventing criminal money infiltration into legal economy, and mitigating risks of committing financial crimes. Besides, this partnership would be incomplete without credit institutions and the private sector operating on the forefront of countering dubious transactions.

Every day we meet new challenges and threats in the financial sphere, both inside our country and abroad. That is why you bear permanent responsibility for the search for new and efficient tools of countering them.

The range of tasks assigned to the national AML/CFT system stakeholders is constantly expanding. And today, as never before, it is essential to get this work going.

I thank you all for your work! Working together makes us stronger.

In honor of this date, we have opened a special section on our website.

You can also learn about the development history of national anti-money laundering system and financial intelligence.