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.
Link: FATF re-affirms fight against terror financing
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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