Russian FederationThe leaders of the G7 during a meeting in Hiroshima, Japan, reaffirmed their commitment to supporting Ukraine against Russian attacks via financial, humanitarian, military and diplomatic mechanisms.
Russian President Vladimir Putin issued a press release concerning a decree that allows the Russian government to freeze assets belonging to perceived adversarial countries.
Scotiabank exits AML enforcement action, Japan eyes stronger AML rules for cryptocurrency, and more, in the midweek roundup.
Banks Struggling with Western Focus on Sanctions Evasion, Analysts Warn
Financial institutions have encountered a host of logistical and legal challenges in detecting and dismantling attempts to evade the West’s sanctions against Russia, analysts with ACAMS told attendees of an online briefing.
The Central Bank of Russia issued a notice revoking the banking license of the Ivanova, Russia-based bank for its anti-money laundering and counterterrorist financing requirements.
The Central Bank of Russia issued a warning against the Krasnodar-based bank for insufficient anti-money laundering and counterterrorist financing internal controls in violation of Part 1 of Article 15.27 of the Administrative Offenses Code.
| Technical | Effectiveness |
|---|---|
| Compliant : 7 | High : 2 |
| Largely Compliant : 28 | Substantial : 4 |
| Partially Compliant : 5 | Moderate : 5 |
| Non-Compliant : 0 | Low : 0 |
| Rank : 52/141 |
| Score : 5.51/10 |
| Rank : 137/180 |
| Score : 28/100 |
| Rank : 44/133 |
| Score : 57/100 |