Rosfinmonitoring warned of risks after the suspension of its membership in Egmont
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The decision of the Egmont Group of Financial Intelligence Units of the World to suspend membership in the Rosfinmonitoring association is illegal and carries risks for the global financial system. About it stated in the Russian department.
Rosfinmonitoring added that the decision is “politicized” and violates the mandate, charter and principles of the group. Also, this step does not take into account the positions of the majority of Egmont members.
“In addition, such a decision carries direct risks and threats to the global financial system, since a number of international financial investigations will be suspended,” the department’s Telegram channel says.
Rosfinmonitoring noted that they will continue to work with interested countries through other channels of information exchange.
Egmont management accepted decision to suspend Rosfinmonitoring’s membership in the association on October 18. The organization explained the decision by the need to maintain Egmont’s reputation and protect the interests of the group. They added that trust in the Russian department was undermined due to the department’s position regarding the policies of its government.
Egmont includes financial intelligence units from 166 jurisdictions. Rosfinmonitoring joined the group in June 2002. In December 2022, Egmont had already introduced a number of restrictions against Rosfinmonitoring in connection with a special operation in Ukraine.
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