Federal Service for Financial Monitoring’s 25th anniversary

President of Russia Vladimir Putin: Mr Chikhanchin, friends, current and former staff members of the Federal Service for Financial Monitoring.

Congratulations on this major anniversary. Established a quarter of a century ago, the Federal Service for Financial Monitoring marks its 25^th anniversary. Congratulations!

Over the past quarter of a century, the agency's team has built an advanced, well-oiled and effective system for countering money laundering. It has passed the test of time and proved fit for purpose when facing the steepest challenges.

The necessary databases, methodologies, and digital tools were created literally from scratch. A methodology was developed to ensure cooperation with banks and law enforcement agencies, and extensive ties were forged with colleagues from other countries. You have demonstrated that Russian financial intelligence is up to the world's highest standards - and, in some ways, exceeds these standards.

Today, the Federal Service for Financial Monitoring is viewed as one of the cornerstones in ensuring Russia's financial security, its state and economic sovereignty. Let me add that ensuring that the financial system is transparent, reliable and secure is a major factor in enabling the country, Russian companies and businesses to be competitive on the international stage and making the national jurisdiction attractive.

By putting in so many years of consistent and systemic efforts, you have built considerable human resources capacity and acquired immense analytical capability, while also developing a solid technological framework. This enables you to expose and cut off financing for terrorists, extremists and criminal groups. You have been effective in eliminating financial platforms operating informally or illegally, preventing financial theft, including from the budget. All this results from your everyday work that often remains unnoticed by most people. However, it is of great importance for our country. We must build on these positive trends.

It is true that the geography and other elements of financial risks are changing. For instance, some financial threats originate beyond Russia's borders. International criminal groups and foreign intelligence services are using the latest technologies, cryptocurrencies and other payment instruments to camouflage criminal and shadow settlements, increasingly often trying to involve underage and, in general, young people in their schemes.

In this connection, it is important to improve the operations of Rosfinmonitoring, which should primarily continue to enhance its technological modernisation in order to react promptly and effectively to arising threats.

Your task is to detect problems at an early stage, before they do real damage, which calls for the efficient use of financial intelligence instruments and more active implementation of advanced analytical models and AI-assisted technologies.

Your absolute priorities include the completion of the national financial security concept. Its implementation is aimed at promoting the modernisation and further development of the anti-laundering system. This is vital for safeguarding the interests of the state.

At the same time, it is necessary to simplify procedures for bona fide market participants while tightening control over suspicious transactions.

Another important area of your activities has to do with deepening international cooperation, primarily with partners in BRICS, SCO, CIS, CSTO and Eurasian countries. A regular exchange of operational information, experience and practices is a major factor in strengthening the economic sovereignty and security of each of our state partners.

Of course, it is also necessary to take energetic preventive measures, paying close attention to awareness raising, including within the framework of the International Olympiad on Financial Security. Overall, accessible and easy-to-understand methods should be used to enhance financial literacy. The task is to protect our people, both our young people and the older generation from the risks which you are working to neutralise.

It should be stressed that the state highly appreciates the work of the Rosfinmonitoring staff. We will continue to strengthen your material and technical capabilities and improve the training and advanced training of personnel.

I would like to express my gratitude to the leadership and all personnel of Rosfinmonitoring for their professionalism and dedication to duty. I am confident that you will continue to competently and responsibly address the tasks set for you, reliably protecting the interests of our citizens, society and the state as a whole.

I once again congratulate you on your anniversary. I wish you good health, as we always do in such cases, and new achievements in your service. I will be delighted to present state decorations to your colleagues.

Thank you.

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