Russia removed from FATF blacklist

Following 'significant reforms' to its anti-money laundering system, Russia has been removed from the list of non-cooperative countries maintained by the Financial Action Task Force on Money Laundering, its parent body, the OECD, has announced.

Written by Alan Osborn

FATF president Jochen Sanio said Russia had given 'strong assurances that it will bring to a completion this reform process and the implementation of its anti-money laundering framework'.

Meanwhile, the FATF has taken the 'serious step' of calling for counter-measures against Nigeria and the Ukraine unless they improve their money-laundering legislation to international standards, the OECD said.

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