The Russian Federation has used special software to track illegal cross-border financial flows. This was stated by Prosecutor General Igor Krasnov, writes TASS.
According to the official, the number of cases of criminal use of cryptocurrencies is growing.
"Special software has been developed in our country to prevent them. It is used both for financial monitoring and for the investigation of criminal cases, which allows you to successfully disclose the entire scheme of operations and the chain of users involved in the process. This also applies to the problem of cross—border movement of assets," Krasnov said.
Earlier, experts from the prosecutor's offices of the BRICS countries exchanged experience in this area. The Prosecutor General of the Russian Federation added that his office, together with colleagues, will continue to suppress illegal cross-border transfers of cryptocurrencies.
ForkLog reported in October 2023 that the Russian authorities are working on the introduction of technology for analyzing cryptotransactions of citizens in the country. At that time, the testing took place on the basis of one bank.
In April 2024, it became known about the implementation of a pilot project to establish links between fiat and cryptocurrency transactions of users, in which the Central Bank of the Russian Federation, Rosfinmonitoring and five large banks participate.
The authorities explain the need to control the increased number of suspicious transactions with digital currencies.
Recall that in a letter dated September 2021, the Central Bank of the Russian Federation classified transactions with crypto exchanges as questionable and recommended that banks conduct their careful monitoring. In case of suspicion of money laundering, credit institutions are advised to block the client's transactions and even terminate the contract.
The regulator also announced plans to develop a mechanism for blocking payments to cryptocurrency exchanges and exchangers.