The Federal Financial Monitoring Service of the Russian Federation will be able to secretly check the real estate of a citizen

The Federal Financial Monitoring Service of the Russian Federation will be able to secretly check the real estate of a citizen

The Russian Government continues to work on improving mechanisms to combat the laundering of proceeds from crime and the financing of terrorism.  In this context a project was reviewed and approved that provides The Federal Financial Monitoring Service of the Russian Federation with the opportunity to secretly verify information about real estate registered to citizens. Now, the current law obliges Russian State Register  to provide information about persons who have received information about a real estate object at the request of the rightholder, whose rights to this object are not registered.

In this regard, the government commission on legislative activity approved the proposed amendments that will allow The Federal Financial Monitoring Service more effectively fight against the laundering of proceeds from crime carried out through real estate transactions. In particular, The Federal Financial Monitoring Service will be able to obtain data on citizens' property without their knowledge, which contributes to improving the effectiveness of ongoing investigations.

It is important to note that the functions of The Federal Financial Monitoring Service include countering the laundering of proceeds from crime, the financing of terrorism and other illegal operations. For the successful implementation of these tasks, it is necessary to ensure the confidentiality of the inspections and investigations carried out. The proposed changes to the legislation are aimed precisely at ensuring such confidentiality.

It should be considered that the owners of real estate will still be aware of the fact that inspections are being carried out, which will allow them to be aware of the actions of state authorities in relation to their property. Thus, the proposed changes do not deprive citizens of their legal rights and the ability to control the situation in the field of registration and use of real estate.

The decision of the Government commission on legislative activity underlines the State's desire to increase the effectiveness of measures to combat economic crimes and financial violations. It also indicates the need for continuous improvement of legislation in accordance with the changing economic and social situation.

The proposed amendments to the legislation on secret verification of real estate information are a step towards strengthening the fight against financial crimes and ensuring the security of economic relations in the country. This decision reflects the balance of interests of citizens and the State in the field of protection of private property and public safety.