FATF decision not entailing restrictions for Russian institutes — regulator

Business & Economy June 23, 2023, 19:38

The Russian anti-money laundering system continues to function efficiently, the authority said

MOSCOW, June 23. /TASS/. The decision made by the Financial Action Task Force (FATF) to continue the suspension of Russian membership in the organization does not entail any commitments and restrictions for the financial institutions in Russia and overseas, the Federal Financial Monitoring Service said.

"The status of Russia in the organization remained unchanged in conclusion of consideration of agenda items. To recap, the politicized decision to suspend the membership of the Russian Federation in FATF was made on February 24 of this year. This decision does not entail any obligations and restrictions for financial institutions in Russia and abroad," the service said.

The Russian anti-money laundering system continues to function efficiently, the authority said. "The Federal Financial Monitoring Service is ramping up international cooperation with interested countries," it added.

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