The official website of the Federal Financial Monitoring Service has published the “Review of the Results of the Generalization of Law Enforcement Practice in Control (Supervision) in the AML/CFT/CPF Sphere for 2024.” The transition to a risk-oriented inspection model has significantly increased the efficiency of control measures.
In 2024, based on risk assessments, regional offices of the Federal Financial Monitoring Service identified over 300 violations of AML/CFT/CPF legislation during inspections. Persons found responsible for violations were held administratively liable. Prosecutorial authorities also conducted audits on compliance with anti-money laundering system requirements, resulting in more than 80 cases of administrative offenses being initiated.
The violations identified included failure to register with the Federal Financial Monitoring Service, non-fulfillment of the obligation to develop internal control policies and procedures, deficiencies in customer identification and due diligence procedures, failure to identify and report suspicious transactions, among others.
While enforcement remains a key function, the Service places special emphasis on prevention. Preventive outreach measures have been extended to 100% of registered reporting entities.
Interaction between the Federal Financial Monitoring Service and anti-money laundering system participants is facilitated through the Personal Account — a multifunctional online service that enables greater transparency of the state regulatory system, reduces administrative burden, and creates a comfortable business environment.
Currently, the share of supervised entities assessed as having an elevated or high risk of non-compliance has steadily decreased, standing at approximately 14%. Nonetheless, the Federal Financial Monitoring Service continues to prioritize supervisory attention on organizations and individual entrepreneurs presenting heightened risks of engaging in suspicious financial activity. Ongoing efforts to further reduce these risks will remain a key focus.
