On the Public Report of the Head of the SFMS for 2023

Pursuant to Article 45 of the Law of Ukraine “On Civil Service” and Typical Procedure for Public Reporting of the Head of the Executive Body, approved by Order of the National Agency of Ukraine on Civil Service of 20.12.2016 No. 277 and registered with the Ministry of Justice of Ukraine on 11.01.2017 No. 28/29896, taking into account the introduction of the martial law in Ukraine and its consequences, the materials of the Public Report of the Head of the SFMS Igor Cherkaskyi for 2023 are presented.

These materials cover the activities of the SFMS in the implementation of the AML/CFT/CPF state policy which is carried out in the conditions of Russia’s full-scale armed aggression (bloody war) against Ukraine.

The SFMS, together with state institutions, reporting entities and civil society, continued to take measures at the international and domestic levels to impose sanctions on Russia as a sponsor of terrorism.

On a daily basis, a set of practical measures has been implemented to identify and block collaborators, traitors and those who contribute to the financing of Russia’s aggression. International cooperation has been intensified, and this work has yielded results.

Russia’s membership in the FATF and the Egmont Group of Financial Intelligence Units was suspended. Russia’s actions were recognized as those run counter to the FATF principles and a gross violation of the FATF Standards. We continue to implement measures to isolate the terrorist country on the international arena.

Also, cooperation with foreign regulators for preventive measures regarding Russia’s business has been deepened, uninterrupted collection, processing and analysis of suspicious financial transactions and support of legal steps in the area of combating money laundering on the way to Ukraine’s EU accession have been ensured.

Last year, as part of national interagency activities, the SFMS prepared and submitted to law enforcement agencies more than 1,100 referrals for over UAH 100 billion of suspicious transactions. Financial transactions for more than UAH 4 billion were blocked on more than 800 accounts of collaborators and other persons, and more than 50 cases of suspected treason were investigated.

In addition, at the end of 2023, the Government approved an Action Plan developed by the SFMS and supported by the Ministry of Finance of Ukraine to reduce the negative impact of risks that were identified as a result of the third National Risk Assessment. In the current and subsequent years, the SFMS will carry out coordination work to implement this Plan.

In addition, in 2023, the SFMS summarized the AML/CFT/CPF administrative reporting, conducted a regular typological study, and ensured further training of AML/CFT/CPF specialists on the basis of the Academy of Financial Monitoring.

As part of public relations, the SFMS official website and social media pages provided prompt weekly information to civil society on the results of the SFMS activities during martial law, as well as quarterly reporting on the results of its work.

Separately, at the SFMS Public Council meeting (February 23, 2024), members of civil society were informed in detail about the implementation of the AML/CFT/CPF state policy by the SFMS under martial law in 2023.

The SFMS, together with national and international partners, with the support of the private sector, continues to take comprehensive measures with the aim of further imposing sanctions on Russia on the international arena and to take proactive steps to the complete Victory of Ukraine over the aggressor.

The materials of the Public Report are available on the official website of the SFMS in the section Main/Activity/Functions/Activity reports/2023/Report of the State Financial Monitoring Service of Ukraine 2023.

Glory to Ukraine!

Glory to the Armed Forces of Ukraine!