Unified information system in the field of combating legalization (laundering) of income

Main article: Corruption (fraud, bribes): Russia and the world

2024: Rosfinmonitoring allocated 10.61 billion rubles for the development of an IT platform to combat money laundering

The Federal Financial Monitoring Service (Rosfinmonitoring) will receive ₽10,61 billion for the development of the Unified Information System (EIS) in the field of countering the legalization of proceeds from crime and the financing of terrorism. This became known in August 2024. These funds will be allocated for the period up to 2030 within the framework of the national program "Digital Economy." One of the key functions of the new platform will be to monitor cryptocurrency transactions in order to de-anonymize owners of digital wallets.

According to CNews, these funds will be used to implement the activities of the federal project "Digital Public Administration" (TSU). The basis for this will be the creation and development of an intelligent digital technological platform, which will be integrated into the National System for Combating Money Laundering, Financing Terrorism and Financing the Proliferation of Weapons of Mass Destruction (AML/CFT/FROMU). As part of this initiative, it is also planned to connect five federal executive bodies to the platform to ensure coordination and support.

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The system, which will develop over the next years, will become an important tool for monitoring and analyzing cryptocurrency transactions. These functions are necessary to combat new types of threats arising from the increase in the number of digital financial assets and the development of blockchain technologies. According to the plans, the service will include machine learning and artificial intelligence technologies that will automate the processes of identifying and classifying financial monitoring objects.

As the representative of Rosfinmonitoring noted, the introduction of this system is part of the long-term strategy of the service to improve information technology in order to increase the effectiveness of combating financial crimes. The Transparent Blockchain system, which is already being used to de-anonymize bitcoin transactions, will be expanded to work with other cryptocurrencies. This system allows you to divide transactions into clusters, which significantly increases the effectiveness of analyzing the movement of digital assets and detecting illegal activities.^[1]

2023: Investment of 340 million rubles by Rosfinmonitoring

The unified information system in the field of countering the legalization () to washing of proceeds from crime and financing, terrorism which is being developed, Rosfinmonitoring will receive an updated module "Monitoring and analysis of cryptocurrency transactions." For this, the department is ready to spend 340 million, rubles writes on January 20, 2023 "" with reference to the Kommersant materials of the relevant public procurement.

We are talking about expanding the composition of cryptocurrencies (bitcoin, bitcoin cash, litecoin, dogecoin), improving the analysis of information about the owners of cryptocurrency addresses, ensuring monitoring and notifying of the start of the movement of funds at the cryptocurrency address, obtaining information about cryptocurrency addresses from external sources and improving analytical tools and user interface, explains the teacher of Moscow Digital School Dmitry Kirillov.

Rosfinmonitoring will spend 340 million rubles to control cryptocurrency operations

After finalizing the system, Rosfinmonitoring will be able to create and maintain a register in which the address of the wallet will be tied to its intended owner, explained State Dumas Mikhail Uspensky, a member of the expert council of the cryptocurrency working group. In addition, the contract involves the development of information analysis and risk management based on the exchange of information with external databases, added state data centers BitRiver Oleg Ogienko, director of interaction with the operator's bodies.

Managing partner of GMT Legal Andrei Tugarin indicated that by the beginning of 2023, Rosfinmonitoring's activities in surveillance of cryptocurrency transactions are not in the public domain. According to him, the regulator collaborated a lot with foreign partners. What kind of systems are now available to the department is not specified. Tugarin pointed out that for Rosfinmonitoring to work effectively, it is necessary to cooperate with foreign colleagues and update the Russian database. To do this, you need to agree on working with services in countries that do not impose sanctions against Russia.^[2]

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