Russia not added to FATF 'blacklist' again; membership remains suspended

The Financial Action Task Force (FATF) did not add Russia to its ‘blacklist,’ instead reiterating that the suspension of Russia’s membership remains in effect.

This was noted in an FATF press release flowing its plenary session from October 23 to 25, according to Ukrinform.

"The suspension of the Russian Federation's membership continues to stand," FATF stated.

The organization also added that flowing statements issued since March 2022, the FATF reiterates that all jurisdictions should be vigilant to current and emerging risks from the circumvention of measures taken against the Russian Federation in order to protect the international financial system.

As previously reported by Ukrinform, in February 2023, FATF suspended Russia's membership.

Read also: Finance Ministry calls on FATF to blacklist Russia

Ukraine’s Ministry of Finance and the State Financial Monitoring Service have long called on FATF to place Russia on the organization’s ‘blacklist.’

FATF is an intergovernmental organization that sets global standards to combat money laundering and terrorist financing and assesses national systems’ compliance with these standards. Founded in 1989, its headquarters are in Paris, and plenary sessions, where decisions are made, are held three times a year.

Source: ukrinform.net

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