Russia to Be Admitted into International Anti-Money Laundering Organisation in June

In June 2003 Russia will be admitted into the Financial Action Task Force on Money Laundering (FATF). This was announced by Viktor Zubkov, the head of the Financial Monitoring Committee, during a press conference at the Rosbalt News Agency. According to Zubkov, a FATF delegation will visit Russia in April to check how Russian law-enforcement agencies work with financial information. 'We hand over documents concerning suspicious deals, and the next step of carrying out checks, starting legal proceedings, etc. is the responsibility of law-enforcement agencies,' said Zubkov. 'So, whether our country is admitted into influential organisations like FATF also depends on them.'

The head of the monitoring committee said that if no questions arise from the visit to Russia in April, FATF will agree to admit Russia in June. 'Russia is currently an observer in FATF, but we don't have the right to vote. From June, if everything goes well, Russia will be able to vote on key matters discussed by FATF,' said Zubkov. 'According to the organisation's rules, if one country votes against a motion, it is not adopted.'