RUSSIA STEPS UP FIGHT AGAINST MONEY LAUNDERING – BUT FATF WILL WANT TO SEE PRACTICAL RESULTS
January 1st, 2017
THE VALUE of crime-tainted money moved through Russian banks has been falling fast – to Russian roubles RUB200 billion (USD3.3 billion) in 2015, down from RUB350 billion in 2014, according to data provided by the Russian Federal Financial Monitoring Service (Rosfinmonitoring). However, this state agency, which specialises in fighting money laundering in Russia and was created by a decree of President Vladimir Putin as long ago as 2001, insists the problem is still acute and could be tackled by more vigorous law enforcement.
According to the 2015 annual report ...
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