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Ukraine removed from FATF “control list”

October 31, 2011, 18:45 UTC+3
Ukraine has been removed from the “control list” of the Financial Action Task Force (FATF), presidential first deputy chief of staff Irina Akimova said
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KIEV, October 31 (Itar-Tass) —— Ukraine has been removed from the “control list” of the Financial Action Task Force (FATF), presidential first deputy chief of staff Irina Akimova said.

In August 2010, FATF said Ukraine still had some strategic deficiencies in fighting money laundering and sponsorship of terrorism.

The FATF plenary session in late June 2011 noted progress in Ukraine and decided to send an evaluation mission the country. Its findings were discussed at the plenary session on October 28.

“FATF has determined that some of the strategic gaps in anti-money laundering and terrorist financing funds are not eliminated. Ukraine should continue to implement an action plan to address these deficiencies, including: 1) fully to address deficiencies with respect to the criminalisation of money laundering and terrorist financing (Recommendation 1 and Special Recommendation 2), 2) develop and implement a legal framework for identification and freezing of terrorist assets (Special Recommendation III)”, the document said.

FATF notes that in February 2010, Ukraine has made a political statement about the high-level cooperation with the FATF and MONEYVAL to address strategic weaknesses in the field of anti-money laundering and terrorist financing.

“Since then, Ukraine has demonstrated its progress on improving the regime to combat money laundering and terrorist financing, including a new law to combat Laundering and Terrorist Financing”, the document said.

 

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