After Russia unlawfully invaded Ukraine, the International Working Group on Russian
Sanctions recommended that Russia be excluded from the Financial Action Task Force on Money
Laundering (FATF).
At the FATF Plenary session this week, FATF members have the opportunity to recognize
Russia’s wholesale violation of its standards and therefore to exclude Russia from the FATF. Now
is the moment to act. Russia’s exclusion from FATF would send a clear signal to companies and
financial institutions around the world that Russia is no longer considered as a reliable financial
center where their funds will be protected. (Statement continues).
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