Representatives of Rosfinmonitoring and CSTO PA Discussed the Implementation of International Standards in the Russian Legislation

On May 20, Egor Ovchinnikov, an official of the Legal Initiatives Support Unit of the Legal Department of the Federal Service for Financial Monitoring (Rosfinmonitoring), took part in the CSTO PA thematic session "The Security Umbrella of Eurasian Integration" at the 13th St. Petersburg International Legal Forum (#SPILF).

In his speech, the Rosfinmonitoring official emphasized that "financial security is one of the most important components of national security."

According to him, the joint work of countries at the platforms of international organizations and regional groups, such as Financial Action Task Force (FATF), makes a significant contribution to minimizing the risks of money laundering and terrorist financing. 

"The FATF Recommendations are a particularly important international instrument for ensuring financial security. Rosfinmonitoring pays close attention to the implementation of international anti-money laundering standards in the Russian legislation," Egor Ovchinnikov noted.

The session participants discussed the risks associated with the use of social engineering techniques, advanced ICT technologies and "deepfakes" by criminals, as well as the involvement of young people in illegal bank drop schemes.