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Putin skeptical about attempts to expel Russia from FATF

Earlier, head of financial watchdog Rosfinmonitoring Yury Chikhanchin informed that a number of states have been making attempts to expel Russia from the Financial Action Task Force

MOSCOW, June 27. /TASS/. Russian President Vladimir Putin is skeptical about attempts by some countries to expel Russia from the Financial Action Task Force (FATF).

"And how will they be fighting against money laundering then? Without our participation," Putin said in reply to a statement by the head of financial watchdog Rosfinmonitoring, Yury Chikhanchin, at a meeting on Monday.

In particular, Chikhanchin briefed the president on "how the anti-money laundering system is being built under the new conditions."

"The most important guidelines are to maintain our positions on international platforms, improve the legislative basis, build a system for cooperation with financial institutions, take measures to ensure that budgetary funds be used properly and, of course, to suppress crimes in the economic sphere," he said.

"The most important thing is to safeguard our interests on our FATF platform," Chikhanchin said. "I must say with regret that a number of states have been making attempts to expel Russia from FATF," he added.

At the same time, the financial watchdog chief stressed that Russia had warned that in this way the system might be ruined. "But political interests are probably sometimes prevail. We work with the government ministries concerned, with reliable partners who work with us. I think we will retain a firm foothold," he concluded.