Anti-Money Laundering Group Suspends Russia, Publishes AML Standards, Guidance

Posted 3/9/23

The Financial Action Task Force (FATF), an intergovernmental body that establishes international standards for anti-money laundering, suspended Russia from its ranks, citing the Russian Federation’s "actions unacceptably run counter to the FATF core principles aiming to promote security, safety, and the integrity of the global financial system.”

The FATF also issued long-awaited guidance for members to implement its Recommendation 24, requiring countries to ensure that competent authorities have access to adequate, accurate and up-to-date information on the true owners of companies.

This item is available in full to subscribers.

Please log in to continue

Log in