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The changes come as digital transactions continue to surge nationwide, raising questions about privacy, enforcement, and political control.
Russian President Vladimir Putin has signed legislation giving the country’s financial intelligence agency direct visibility into transactions made through major national payment channels.
The Moscow Times reported on December 16 that the law grants Rosfinmonitoring (Federal Financial Monitoring Service of the Russian Federaion) access to payment data without intermediary requests.
The amendments affect transactions processed via the Mir card system and the Central Bank’s Faster Payments System, known as SBP.
These platforms handle up to 60 million transfers daily, amounting to roughly 70 trillion rubles, or about $882–910 billion, each year.
Enforcement rationale
Instead of requesting information from individual banks, Rosfinmonitoring will now receive transaction data directly from the National Payment Card System, which operates the infrastructure.
According to the law’s explanatory note, the goal is to accelerate financial monitoring while easing the administrative load on banks, United24 Media reports.
By reducing mass data requests, authorities say inspections can be conducted more efficiently.
Rosfinmonitoring already maintains Russia’s official registry of individuals labeled as “extremists” or “terrorists.” Inclusion on the list can result in frozen accounts and blocked payments based on suspected financial violations.
Expanding authority
The amendments build on earlier measures that strengthened Rosfinmonitoring’s reach. Since July 1, 2025, the agency has been able to freeze bank cards and accounts for up to 10 days if there is suspicion of money laundering or financing extremism.
The scope of the registry has also widened. Late last year, authorities allowed Rosfinmonitoring to add people accused of “discrediting” the Russian army, as well as certain violent crimes deemed politically or ideologically motivated.
Separately, the Central Bank of Russia announced on December 12 that it had filed a lawsuit in a Moscow court against Euroclear, citing alleged illegal actions and the European Commission’s plans to use frozen Russian assets, according to a statement on its website.
Sources: The Moscow Times, Central Bank of Russia, United24 Media
