Russian FederationThe Federal Financial Monitoring Service of Russia, or Rosfinmonitoring, highlighted the 16th meeting of the Council of Heads of Financial Intelligence Units of the Members of the Commonwealth of Independent States, which was chaired by Rosfinmonitoring Director Yury Chikhanchin.
Russia’s Federal Financial Monitoring Service, or Rosfinmonitoring, highlighted the Oct. 30, 2020 meeting regarding the interim results of its efforts to enhance the effectiveness of anti-money laundering and counterterrorist financing systems in line with Financial Action Task Force Recommendations
Former FATF President Accuses Russia’s FIU of Facilitating Money Laundering
Russia’s financial intelligence unit, Rosfinmonitoring, facilitates state-sponsored money-laundering schemes and plays a key role in President Vladimir Putin’s efforts to maintain his grip on power, the former U.S. president of the Financial Action Task Force said.
European FIUs lack staff and equipment, Danske Bank faces hundreds of millions of additional dollars in AML outlays, and more, in the weekly roundup.
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 |