Rosfinmonitoring

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Federal Financial Monitoring
Russia, Flag of Federal service on financial monitoring, 2008.png
Flag of Russian financial monitoring, 2008
COA of Rosfinmonitoring.png
logo
Agency overview
Formed November 1, 2001 (as Committee for Financial Monitoring of Russia)
Headquarters K-450, D.39 Myasnitskaya Street, Moscow
Agency executive
  • Director, Yuri Chikhanchin
Parent agency Administration of the President of Russia
Website FedSFM.Ru

The Federal Financial Monitoring Service of the Russian Federation (Russian: Федеральная служба по финансовому мониторингу; Росфинмониторинг) (known as Rosfinmonitoring) is a Federal Service that was created by a decree of President Vladimir Putin of November 1, 2001, and aimed to collect and analyze information about financial transactions in order to combat domestic and international money laundering, terrorist financing, and other financial crimes. The organization also provides lists of people accused of terrorist or "extremist" activities.[1]

From November 1, 2001, to March 9, 2004, it was called Financial Monitoring Committee (Russian: Комитет по финансовому мониторингу). It has been led by Viktor Zubkov from the very beginning.

Rosfinmonitoring is considered as Russia's main body for financial intelligence.

History[edit]

Under Presidential Decree No. 1263 from November 1, 2001 "On the authorized body to counteract the legalization (laundering) of proceeds of crime", the Committee for Financial Monitoring of Russia (Комитет Российской Федерации по финансовому мониторингу) was born. The Presidential Decree came into force on February 1, 2002.

Following the adoption in September 2002 amendments to the Federal Law "On Combating Legalization (Laundering) of Proceeds from Crime and Financing of Terrorism", The Financial Monitoring Committee (KFM of Russia) functions have been enhanced with countering terrorism financing.

One of the Committee's functions was to improve Russia's image in the international community: Russia at the time was in the "black list" of FATF. Through the efforts of FMK in October 2002, Russia was removed from the "black list", and in June 2003 the Committee became a member of the FATF.

On March 9, 2004, The Presidential Decree No. 314 ("On system and structure of the federal organs of the executive authority") The Committee for Financial Monitoring transformed into the Federal Service for Financial Monitoring (Rosfinmonitoring).

Until September 2007 the Federal Financial Monitoring Service was administered by the Ministry of Finance of the Russian Federation. In accordance with Presidential Decree from September 24, 2007 (№ 1274, "On Issues of the structure of federal executive authorities) The Rosfinmonitoring become subordinate directly to the Government of the Russian Federation.

According to the Decree of the President of the Russian Federation from May 21, 2012 (№ 636; "On the structure of federal executive agencies"), the Federal Service for Financial Monitoring became under the authority of the President of Russia.

Directors[edit]

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External links[edit]