Deputy Director of the Federal Financial Monitoring Service, Anton Lisitsyn, spoke at the Cybersecurity in Finance Ural forum, held in Yekaterinburg from February 19 through 21.
Participants in the Banking of the Shadow Economy. Countering Money Mules with AML/CFT Tools forum session included representatives of Rosfinmonitoring, the Bank of Russia, the National Bank of the Republic of Kazakhstan, as well as members of the banking and expert communities.
In his speech, Anton Lisitsyn addressed the issue of criminals using money mules and emphasized the importance of cooperation between Russia's financial intelligence unit, law enforcement agencies, and the banking sector in minimizing associated risks.
"Particular attention should be paid to the significant decline in the average age of individuals involved in illegal shadow schemes. This year, based on suspicious transactions reports received by us, approximately 40% of the data concerns young people under the age of 35. We have also observed a sharp increase in reports of transactions involving minors who, in one way or another, fit money mules profile, said Anton Lisitsyn.
He also underscored the importance of regulatory and legal measures in combating the use of money mules.
The Ministry of Internal Affairs of Russia, in cooperation with relevant federal agencies, including Rosfinmonitoring, has drafted a law introducing criminal liability for acting as a money mule.
As part of broader efforts to raise awareness about financial security among young people, the International Olympiad on Financial Security has been held for school and university students since 2021 under the patronage of the President of the Russian Federation and the Government of the Russian Federation.
