"Official corruption at all levels of government constitutes one of the largest sources of laundered funds. Russia is also a transit and destination country for international narcotics traffickers, particularly from Afghanistan. Cybercrime remains a significant problem, and Russian hackers and organized crime structures continue to work together. Criminals launder funds through banks, hawala networks, real estate, industrial entities, and luxury goods.
"Although Russia has encouraged domestic development of blockchain-based technologies, the Russian government does not have a consistent position on the regulation of virtual currency.
"There is a large migrant worker population in Russia. Many remittances are sent through an informal value transfer system that may pose vulnerabilities for money laundering. Gaming is only allowed in specified regions. The FIU monitors casinos for AML/CFT compliance, while other agencies supervise other parts of the gaming sector. Online gaming is prohibited."
US State Dept. 2021 INCSR–Volume II: Money Laundering (As submitted to Congress). Washington, DC: State Dept. Bureau of International Narcotics and Law Enforcement Affairs, March 2021.
