Egmont explained the suspension of Rosfinmonitoring from participation in the association’s activities as temporary, “for the period necessary to protect the interests of the group and ensure the achievability of its goals.”
The international organization previously provided Rosfinmonitoring with operational information and assisted in the investigation of cases related to the laundering of illegal proceeds using crypto-assets.
The Russian supervisory authority called the decision “a politicized violation of the mandate, charter and principles” of the Egmont group. Officials from the Russian Federation believe that the decision carries direct risks and threats to the global financial system, since it stops a number of important international financial investigations.
In 2022, the head of Rosfinmonitoring, Yuri Chikhanchin, said that his department had initiated about 400 investigations and was conducting more than 20 criminal cases related to the illicit circulation of digital assets, including those involving foreign criminal groups.
Source: Bits
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