What happened? The State Financial Monitoring Service of Ukraine has published a scheme of risks posed by russia to global financial security and world order.
Source. Website of the State Financial Monitoring Service of Ukraine.
Details. "This scheme demonstrates the nature of the destructive impact of the terrorist war waged by russia against Ukraine and shows the place, role, and actions of key institutions that ensure global financial security and world order.
Its analysis makes it possible to draw parallels between violations by the russian federation of the Geneva Conventions and other special conventions that are under the mandate of the Financial Action Task Force on Money Laundering (FATF) and the FATF Recommendations," the statement reads.
It is noted that the FATF Plenary and Working Groups Meetings will be held in Paris (France) from February 20 to February 24, 2022.
FATF emphasises that all jurisdictions should be vigilant about the possible risks of circumventing the measures applied to russia to protect the international financial system.
The FATF has already approved a number of restrictions on the membership of the russian federation in the organisation, including depriving the russian federation of all its leadership functions and prohibiting it from participating in current and future FATF projects, as well as in meetings of FATF-style regional bodies (FSRB), in the status of a FATF member.
In addition, the FATF will continue to monitor the situation and will consider the issue of the russian federation at each of its plenary meetings.