International group on combating money laundering suspends Russia's membership

The Financial Action Task Force (FATF) has suspended Russia's membership indefinitely — the Head of the Presidential Office, Andrii Yermak.

FATF was created by the G7 countries. The main tasks of the group are:

▪️ extending the effect of its adopted recommendations to all continents and regions of the globe;

▪️verification of anti-money laundering measures and their implementation in member states and other states, based on the 40 recommendations of the FATF, which are a guide to action;

▪️tracking global methods and schemes for laundering criminally acquired capital and developing countermeasures.