Russia is suspended from Financial Action Task Force (FATF) membership

Daily Current Affairs / Russia is suspended from Financial Action Task Force (FATF) membership

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Category : International Published on: February 28 2023

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Global anti-money laundering watchdog the Financial Action Task Force has suspended Russia's membership over Moscow's invasion of Ukraine.
It is the first time a country has been removed in FATF’s 34-year history for its “illegal, unprovoked and unjustified” full-scale military invasion of Ukraine.
The FATF sets standards for more than 200 countries and jurisdictions and seeks to help authorities tackle serious crime including drug smuggling, human trafficking and terrorism.
Russia has already been expelled from the Council of Europe and suspended from the UN Human Rights Council, but it is still a member of several international organizations.