EU Adds Russia to List of High-Risk Countries for Anti-Money-Laundering Compliance
The European Commission on Dec. 2 added Russia to its list of high-risk jurisdictions with deficiencies in their anti-money-laundering and counterterrorist financing regimes. EU entities covered by the anti-money-laundering framework are required to apply "enhanced vigilance in transactions involving" jurisdictions…
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added to the list. The commission reviewed Russia for its potential inclusion as a country with "strategic deficiencies in its anti-money laundering and counter-terrorist financing frameworks," since Russia isn't listed by the Financial Action Task Force but its membership is suspended.