FATF appreciates Russia's efforts in fight against money-laundering

The Financial Action Task Force on Money Laundering (FATF) has a high opinion of Russia's efforts in the fight against money laundering and the funding of terrorism.

Addressing the international conference on "Corporate Management and Economic Growth in Russia" Friday (the conference is being held in Moscow now), Claes Norgren, FATF president, said that in recent years Russia achieved tangible successes in this sphere and the Russian leadership could be proud of this.

In his words, Russia has demonstrated its readiness to work actively in order to bring its legislation into conformity with FATF recommendations and work out its own.

In Claes Norgren's opinion, Russia must "itemize and finalize its legislative base" related to the fight against money laundering and the funding of terrorism so that Russian and foreign investors could act in compliance with international standards applied in this sphere.

The FATF president also believes that Russian law-enforcement agencies must draw up concrete rules and standards to be able to fight more effectively with the crimes in this sphere.