FATF bans Russia from participating in its ongoing and expected projects – Russia |
Moscow. October 21. INTERFAX – The FATF Plenary Session (Anti-Money Laundering Task Force – Financial Action Task Force), which ended on Friday in Paris, put an end to restrictions on Russia, banning participation in upcoming and forthcoming projects of this international organization, reports information on session.
The FATF also banned Russia from participating in the meeting of the FATF regulators as a member.
These restrictions expand on the restrictions imposed by the June FATF session, under the terms Russia can no longer perform any prescriptive or advisory role or take part in decisions relating to matters, FATF peer review procedures, governance and membership. Russia also can no longer call on assessors, reviewers or other experts for FATF peer review processes.
The FATF intends to ensure that each of its plenary meetings considers the question of what results in the removal or modification of the imposed restrictions.
The FATF is an international organization that develops equipment in the field of combating money laundering and the financing of terrorism (AML/CFT), and also monitors compliance with the requirements of AML/CFT systems.