Rosfinmonitoring Advocates for Developing the CSTO Concept of Financial Security

Financial security has moved beyond the scope of national interests and become a key factor in regional stability. This was stated by German Neglyad, State Secretary and deputy Director of Rosfinmonitoring, in his speech at the session of the CSTO Parliamentary Assembly that took place as part of the St. Petersburg International Legal Forum (SPILF 2026).

According to deputy Director, all Member States of the Organization are currently facing large-scale risks at the individual, societal and state levels. Among the main challenges cited were traditional fraud, pyramid schemes, embezzlement of public funds and financing of terrorist groups. The situation is seriously exacerbated by the digitalization of the criminal world.

"Criminals are actively using new technologies, such as cryptocurrency and artificial intelligence," German Neglyad emphasized.

The speaker paid particular attention to a dangerous trend in recent years—the mass recruitment of citizens into criminal activities through high-tech social engineering. The Rosfinmonitoring representative noted that criminal schemes have become multi-layered: facing pressure from manipulators, people who were initially victims of deception and fraud subsequently become perpetrators of extremist and terrorist acts themselves.

To effectively counter these elaborate schemes, the CSTO Member States need a strong, single legal framework, as well as coordinated efforts of lawmakers.

"We fully support the work of the CSTO Parliamentary Assembly on harmonizing national legislation and drafting the CSTO Concept of Financial Security," German Neglyad concluded.