Financial Crime Definition in Russian Federation
The Federal Financial Monitoring Service (Rosfinmonitoring) is the financial intelligence unit of the Russian Federation, responsible for combating money laundering, terrorism financing, and proliferation of weapons of mass destruction.
Definition of Financial Crime
According to legal frameworks, including Federal Law No. 115-FZ dated August 7, 2001, “On Combating Legalization (Laundering) of Criminal Proceeds and Financing of Terrorism,” financial crime is defined as:
- The process of giving a legitimate appearance to possession, use, and disposal of funds or other assets obtained through criminal activity.
Countering Financial Crime
The main tool used by Rosfinmonitoring in countering financial crime is financial investigation. This involves examining the financial aspects of criminal activity to:
- Identify and document the movement of funds during the course of criminal activity
- Trace proceeds of crime, terrorist financing sources, and other assets subject to confiscation
Additional Focus Areas
In addition to combating money laundering, Rosfinmonitoring also focuses on:
- Countering the financing of terrorism: detecting and disrupting channels of financing international terrorist organizations and identifying individuals traveling or returning from zones with increased terrorist activity
- Proliferation of weapons of mass destruction: implementing measures to detect and disrupt channels of proliferation
Role in Russia’s AML/CTF System
Rosfinmonitoring is a key player in Russia’s Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) system, working closely with other government agencies and organizations to:
- Identify and prevent financial crimes
- Maintain a list of designated entities and individuals involved in extremist activities or terrorism
Contact Information
Contact Rosfinmonitoring at:
Phone: +7 (495) 627-33-97 (reporting TF instances) or +7 (495) 627-32-43 (reporting corruption and infringement on established service rules)
Email: pr@fedsfm.ru (press service) Website: fedsfm.ru
Address: 39, Building 1, Myasnitskaya Street, K-450, Moscow, 107450
Reception of correspondence: business days 10:00-12:00 and 14:00-16:00