THE ROSFINMONITORING BOARD MEETING WAS HELD

Published: 03.12.2021

On December 3, 2021, an extended Board meeting "On the results and prospects of Rosfinmonitoring's international cooperation activities" was held at the Federal Financial Monitoring Service. The event was attended by representatives of the Presidential Executive Office, the General Prosecutor's Office, the Federal Security Service, the Ministry of Internal Affairs, the Ministry of Foreign Affairs, the Bank of Russia, the Secretariat of the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG), as well as the International Training and Methodology Centre for Financial Monitoring (ITMCFM).

In his welcome speech, Director of Rosfinmonitoring Yury Chikhanchin pointed out that the risk-based approach, which underlies the work of the Russian anti-money laundering system, obliges to respond to new challenges and threats in all AML/CFT areas, including in the field of international cooperation.

Given the changing situation in the country and in the world, special attention is paid to the risks related to:

  • Increased activities of international terrorist organizations;
  • Development of digital technologies and strengthening of the role of crypto and digital currencies;
  • The coronavirus pandemic, which led to an increase in the number of typologies associated with crimes in the financial and economic area;
  • Tightening of the sanction regime on the part of individual countries, as well as attempts to politicize neutral multilateral platforms and institutions.

In his speech, Deputy Director of Rosfinmonitoring Vladimir Glotov outlined the main results and priorities of the work of financial intelligence unit in the field of international relations amid new challenges and threats.

State Secretary and Deputy Director German Neglyad highlighted the area of work in terms of eliminating the deficiencies identified during the FATF mutual evaluations in 2019. Particularly, in demonstrating progress by 2022 in terms of effectiveness under Immediate Outcome 2 (IO2) – "International cooperation delivers appropriate information, financial intelligence, and evidence, and facilitates action against criminals and their assets."

Namely:

  • Positive dynamics in tracing and confiscation of assets under money laundering cases;
  • Ensuring high-quality bilateral exchange;
  • A unified system of statistical efficiency indicators, etc.