FATF TOOK A FAVOURABLE VIEW OF COOPERATION BETWEEN FAS AND ROSFINMONITORING

27-04-2020 | 14:56

Financial Action Task Force on Money Laundering (FATF), an inter-governmental body that sets international standards to counter money laundering and terrorist financing, took a favourable view of the cooperation experience between FAS and Rosfinmonitoring, uncharacteristic for financial intelligence units

 

Upon assessment of the work of competent bodies, FATF praised Russia highly for conformity of its anti-laundering system to the international standards.

 

Fulfilling the agreement, FAS and Rosfinmonitoring [the Federal Financial Monitoring Service] exchange information to combat cartels efficiently. The efforts are especially successful in the public sector: in the course of public procurement and procurement by state-run companies.

 

Stats-Secretary, Deputy Head of FAS Andrey Tsarikovsky commented: “Lately, interaction with Rosfinmonitoring has become an integral part of investigating cartels and other collusions by FAS. Typically, every collusion is based on financial interests, which often do not come close to surface. Sometimes cartel members can settle with each other through third parties or transfer cash to the gray market. During the pandemic, we together elaborate new methods of exposing cartels on the markets to suppress “predatory” pricing of particular companies”.

“Several cases investigated jointly by FAS and Rosfinmonitoring were presented for assessment of collaboration between Rosfinmonitoring and other government bodies and were given positive assessment”, pointed out Deputy Director of Rosfinmonitoring, Oleg Krylov.



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