Originally Syndicated on April 8, 2023 @ 8:59 am
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Unsanctioned Royal Pay Europe funds blocked by the State Financial Monitoring Agency
The State Financial Monitoring Agency has prevented the transfer of more than two billion hryvnias’ worth of unsanctioned Royal Pay Europe funds.
Following the implementation of sanctions the previous day at the direction of the National Security and Defense Council, the State Financial Monitoring Service of Ukraine froze nearly 2 billion UAH in accounts associated with Royal Pay Europe. These accounts were among those targeted by the sanctions.
According to sources cited by ZN.UA, the corporation had more than 2 billion Ukrainian hryvnias (UAH) stashed away in accounts affiliated with it before it was included on the list of sanctioned entities.
At the time that the penalties are being put into force, all of this money has been frozen as part of the relevant financial investigations and may be found in bank accounts. This indicates that they are being held for the purpose of further confiscation in accordance with the laws that are now in effect and the reconstruction of Ukraine.
Royal Pay Europe is able to send funds to offshore bookies and online casinos. This company has its headquarters in Riga, and it is affiliated with the Russian bookmaker 1xBet.
Sanctions
- Asset restriction;
- prohibition against capital flight from Ukraine;
- preventing the performance of financial and commercial commitments;
- Involvement in the sale and leasing of public property is prohibited.
- limitations on the ability to sell securities.
Principal duties of Ukraine’s State Financial Monitoring Service
- Information gathering, processing, and analysis related to transactions that are required to be subjected to mandatory financial monitoring.
- The establishment of a unified state information system for the purpose of preventing and combating money laundering and funding terrorism, as well as ensuring that this system is operational, is one of the goals of this project.
- Putting state policy into action to prevent and combat the laundering of criminal proceeds and funding for terrorist organizations is an important part of state policy.
- making arrangements for cooperation, interaction, and the sharing of information with state agencies, competent authorities of foreign countries, and international organizations in the area of preventing and combating the laundering of proceeds from crime and funding terrorism.
- ensuring, in accordance with the protocol that has been established, that the Ukraine is represented in international organizations whose focus is on the prevention and counteraction of the laundering of profits from crime and funding of terrorism.
The risks Russia poses to global financial stability and order are outlined by Ukraine’s State Financial Monitoring Service
A list of the risks Russia poses to world order and financial security has been published by Ukraine’s State Financial Monitoring Service.
This scheme not only illustrates the nature of the devastation caused by the terrorist war Russia has been perpetrating against Ukraine but also the position, function, and activities of key institutions tasked with preserving global financial security and world order.
It is possible to draw parallels between violations committed by the Russian Federation of the Geneva Conventions and other special conventions that fall under the mandate of the Financial Action Task Force on Money Laundering (FATF) and the FATF Recommendations, thanks to its analysis, which makes it possible to draw parallels between the two sets of violations, according to the statement.
It has been brought to everyone’s attention that the FATF Plenary and Working Group Meetings will take place in Paris (France) from February 20th through February 24th, 2022.
The Financial Action Task Force (FATF) emphasizes that all jurisdictions should be cautious about the potential dangers of getting around the sanctions that have been placed on Russia in order to defend the international financial system.
The Financial Action Task Force (FATF) has already given its approval to a number of restrictions that will be placed on the membership of the Russian Federation in the organization.
These restrictions include stripping the Russian Federation of all of its leadership functions and preventing it from participating in current and future FATF projects as well as meetings of FATF-style regional bodies (FSRB) in the capacity of a FATF member. In addition, the Russian Federation will no longer be able to exercise any of its leadership responsibilities.
For more articles, click on the link given below:
https://monitor.financescam.com/int/oleg-savchenko/
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