A module for monitoring and analysing cryptocurrency transactions in Russia will be created by a structure controlled by Sber. The cost of the works was estimated at 14.7 million rubles (nearly $201,700). Data from the state procurement site show.
According to SPARK, the tender winner — the company RCO — is controlled by LLC Rambler Internet Holding, which, through a chain of companies, belongs to Sber.
The development is commissioned by Rosfinmonitoring. According to the tender documentation, the service should perform several functions:
- tracking the chain of movements of digital financial assets;
- maintaining a database of cryptocurrency wallets linked to illicit activity and the financing of terrorism;
- monitoring the behaviour of participants in the cryptocurrency market to identify them, build participant profiles and assess their role in economic activity, as well as determine the likelihood of their involvement in illicit activity.
With the module, Rosfinmonitoring plans to reduce the risks of financing the illicit drug trade, and to safeguard and ensure the targeted use of budget funds.
The department declined to disclose details of the project.
Back in February, Rosfinmonitoring, together with law enforcement and the Academy of Sciences, developed a service that would enable tracking cryptocurrency transactions. The project was promised to be completed by the end of the year.
In March, representatives of the agency named Bitcoin, Ethereum and Monero among the most popular cryptocurrencies among criminals in Russia.
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