A prerequisite for bringing to criminal liability for operations with cryptocurrencies in the Russian Federation is the presence of transactions with property obtained by criminal means. This was stated by representatives of Rosfinmonitoring in a commentary to RBC.
Referring to a recent decision of the Supreme Court, the department explained that liability for legalization of criminal proceeds occurs “when the very fact of financial transactions is established in order to give a legal form to the possession, use and disposal of money or other property.”
At the same time, the financial intelligence spoke about a new type of fraud, during which attackers offer assistance in withdrawing funds from blocked exchange wallets. For their services, they ask to pay a “legalization tax”.
In 2022, law enforcement officers, based on Rosfinmonitoring data, uncovered 11 pyramid schemes. In addition, more than 60 criminal cases were initiated against their organizers and participants.
In order to prevent financial fraud using cryptocurrencies, financial intelligence has prepared a proposal on the mandatory full identification of clients of trading platforms when a certain limit on the transaction amount is exceeded. The package of bills is already being discussed in the government.
In 2022, Rosfinmonitoring received about 70,000 suspicious transaction reports from banks, which are allegedly related to the illegal circulation of digital currency.
In its work, the department uses the Russian tool for analyzing cryptocurrency transactions – “Transparent Blockchain”. With its help, several cases of bribes with digital currency and a contract killing paid for by such assets have already been identified.
Recall that as of March, Rosfinmonitoring tracked more than 25,000 participants in transactions with cryptocurrencies.
Earlier, the Ministry of Finance of the Russian Federation introduced into the bill regulating the mining of cryptocurrencies, a provision on criminal liability for refusal to declare digital assets.
In December 2022, Rosfinmonitoring supported the ban on settlements in cryptocurrencies, restrictions on their advertising, and the need for explanatory work on the high risk of such assets.
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