Analysis of the state of financial monitoring in the Russian Federation

UDC 336.1
DOI: 10.36871/v.a.2022.03.01.004

Authors

M. V. Zhelyabovskaya,
Institute of Online Education, Financial University, Moscow, Russia
A. K. Esenova,
Financial University under the Government of the Russian Federation, Moscow, Russia

Abstract

Relevance. The global trend of recent years is the fight against illegal financial transactions. The real damage from them is currently impressive, while the number of economic offenses has increased in 2021. This study analyzes the state of the national financial monitoring system in the Russian Federation.
The purpose of the work is to conduct a comprehensive analysis of the activities of the Federal Financial Monitoring Service for 2016-2021.
Materials and methods: when writing the work, the author used methods of the general theory of statistics, namely absolute values, methods of analysis and synthesis. A graphical method of data visualization was used to visually display statistical data.
Results: the article reveals the main problems that hinder the effective operation of the national anti-washing system. The emphasis is placed on the mechanism of interaction of Rosfinmonitoring with the law enforcement unit of Russia. It is noted that the role of financial monitoring is important from the standpoint of ensuring the economic security of the state. The effectiveness of the work carried out by Rosfinmonitoring on countering illegal financial and economic transactions is analyzed. A number of problems related to deficiencies in the national anti-washing system were also identified in accordance with the FATF mutual assessment report. Emphasis was placed on measures to improve the mechanism for countering the legalization of proceeds from crime and the financing of terrorism.
In conclusion, it should be noted that over the 20 years of its existence, the Russian financial monitoring system has achieved outstanding success and today stands on a par with such jurisdictions that have high potential in this development.

Keywords

financial monitoring, AML/CFT, evaluation, efficiency, Rosfinmonitoring.