FATF excludes Ukraine from black list

The international group The Financial Action Task Force (FATF) has supported a decision to exclude Ukraine from the black list of countries with inadequate measures to counter money laundering, said the Ukrainian president's administration quoting President Leonid Kuchma.

In 2002 the FATF levied sanctions against Ukraine for taking inadequate measures in the battle against money laundering and requested that all its members verify financial operations with Ukraine. Last year the sanctions were removed, however, Ukraine remained on the organization's black list.