Reducing Activities: company scaling back some business operations while continuing others
Stay Scaling BackThe Financial Action Task Force (FATF), also known by its French name, Groupe d'action financière, is an intergovernmental organisation founded in 1989 on the initiative of the G7 to develop policies to combat money laundering and to maintain certain interest. In 2001, its mandate was expanded to include terrorism financing.
Reducing Activities: company scaling back some business operations while continuing others
Stay Scaling BackThe Financial Action Task Force (FATF) continued to suspend Russia's membership without imposing further restrictive measures. FATF lowered Russia's rating in the sphere of control over transactions with cryptocurrency.
The FATF Plenary on February 24, 2023 has suspended the membership of the Russian Federation. The Ministry of Finance of Ukraine expresses concern over reports of Russia's attempts to blackmail member countries of the International Financial Action Task Force (FATF) on the eve of the FATF plenary meeting in Paris, which will take place on June 19-23. Russia is trying to exert political pressure on its commercial partners to avoid being blacklisted. In particular, Russia demands to oppose any applications of Ukraine or FATF decisions regarding its inclusion in black or gray lists. The International Anti-Money Laundering Group (FATF) did not include Russia in the "black list". The Ministry of Finance and the State Financial Monitoring Service have once again called on the Financial Action Task Force on Money Laundering (FATF) to include Russia in the "blacklist" during the plenary sessions in Paris from October 23 to 27, 2023.