Russian Federation

Politics and economy

Russia is a democratic federal presidential-parliamentary republic. Legislative power is vested in the Federal Assembly (Parliament), while executive power is vested in the Government.

Russia’s main exports are hydrocarbons, metals, chemicals, machinery, equipment, weapons and food.

Russia has a bilevel banking system consisting of the Central Bank and lending institutions (commercial banks and non-bank lending institutions). The country’s national currency is the ruble.

National AML/CFT regime

Federal law №115-FZ On Countering the Legalization (Laundering) of Criminal Proceeds entered into force in Russia in August 2001.

The national legislation is being constantly enhanced in compliance with international standards. Measures are also being taken to enhance interagency cooperation and implementation of risk-based approach in private sector institutions. Key role in these processes are played by the Interagency Commission on Combating Money Laundering and Financing of Terrorism which is chaired by the head of Rosfinmonitoring. A Consultations Council is a part of the Interagency Commission which includes participants from key banking associations and other private sector institutions engaged in AML/CFT.

The national financial intelligence unit (FIU) is the Federal Financial Monitoring Service (Rosfinmonitoring) which was founded in 2001 as part of Ministry of finance (former Financial Monitoring Committee (KFM) and has been an independent body which reports to the government since 2004.

Rosfinmonitoring is an administrative-type FIU which is a member of the Egmont Group. According to unofficial ratings, Rosfinmonitoring was appointed as one of the world’s 5 top financial intelligence units.

Russia is a the FATF and MONEYVAL (a FATF-style regional body in Europe), as well as an observer in the Asia/Pacific Group on Money Laundering.

YURI CHIKHANCHIN

Head of the Federal Service for Financial Monitoring

Born June 17, 1951 in Krasnoyarsk.

In 1974 he graduated from the Siberian Technological Institute.

In 1974-1978 he worked at enterprises of the Krasnoyarsk Territory (repairman, senior repairman, foreman, Head of Production Planning).

From 1978 to 1994 he served in the security services.

In 1994-2000 he headed the Eastern Siberian Regional Office of Russia’s Currency and Export Control Service.

In 2000-2002 he served as Head of Foreign Exchange Control at the Ministry of Finance of the Russian Federation.

From 2002 to 2004 he was First Deputy Chairman of the Russian Federation Committee for Financial Monitoring.

From 2004 to 2007 he was Deputy Head of the Federal Service for Financial Monitoring.

From September 2007 to May 2008 he served as Head of the Secretariat of the Prime Minister of the Russian Federation.

On May 22, 2008 he was appointed Head of the Federal Financial Monitoring Service.

On 13 June 2012 he was reappointed Director of the Federal Financial Monitoring Service.

He is a Class 1 State Advisor, a Kandidat of Economics, has the honorary title Honored Economist of the Russian Federation, has been thanked by the Russian President, the Prime Minister of the Russian Federation and the Federal Assembly of Russian Federation, and has been awarded the Medal of Honor.

In 2011 awarded by the President of the Russian Federation with the "Merit for the Fatherland" of IV degree.

Cooperation with the EAG

Russia has been a member of the EAG since the group was founded.

The EAG Secretariat has been in Moscow since 2004. Seven plenary meetings of the EAG were held in the Russian Federation.

Based on the FATF–MONEYVAL–EAG mutual evaluation, in 2008 Russia received high ratings for compliance with international AML/CTF standards

In 2009 Russia submitted its first follow-up report to the EAG Plenary.

Russia’s latest follow-up report will be submitted at the EAG’s 13th Plenary metting in December 2010.

Russia provides technical assistance to the EAG member states in areas that include training the personnel of financial intelligence units, supervisory and law enforcement bodies. For these purposes, the International Training and Methodology Centre for Financial Monitoring was created.

The 20th and 23rd EAG Plenary meetings were held in Moscow in 2014 and 2015.

 

Authorization

    Upcoming events

    EAG in the news

    22.03.2017
    Dialogue on FinTech and RegTech: Opportunities and challenges Chairman’s Summary of Outcomes from the FATF Private Sector Consultative Forum, Vienna, 20-22 March 2017
    22.03.2017
    Dialogue with the Private Sector Chairman’s Summary of Outcomes from the FATF Private Sector Consultative Forum, Vienna, 20-22 March 2017
    13.03.2017
    Financial Monitoring Department Wins Runner-Up Award in Egmont Group's Best Case Study Contest The Financial Monitoring Department of the State Control Committee of Belarus (FMD) became runner-up in the latest Egmont Group's best case study contest, whose results were announced at the Group's Plenary meeting in Doha (Qatar).
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