Russia’s money laundering risks – what does the latest FATF report mean in practice?
Kateryna Boguslavska, 26 February 2020
Russia’s risk level in the Basel AML Index has hit a record low following a December 2019 Financial Action Task Force (FATF) assessment that rated the country’s anti-money laundering and counter terrorist financing (AML/CFT) systems as reasonably effective.
The Basel AML Index is the only independent, data-based index of the risk of money laundering and terrorist financing (ML/TF) around the world. Russia’s overall risk score has fallen from 5.75 to 5.60 out of 10, where 10 equals the highest assessed risk of ML/TF. It remains in the medium/high-risk category, reflecting in particular its vulnerabilities to a high level of corruption and to political and legal risks. Continue reading “Article: Russia’s money laundering risks – what does the latest FATF report mean in practice?”
