The FATF limitations will be taken
into account
An amnesty on capital returning
to Russia proposed by President Vladimir Putin risks putting Russia
on the blacklist of a global anti-money laundering watchdog,
potentially deepening the country's isolation from global financial
markets, the Vedomosti newspaper reported Friday.
Putin last month pledged not to question the origins
of any cash returning to Russia as part of a package
of measures aimed at firming Russia's economy, which is tumbling
into recession under the weight of Western sanctions
and plunging oil prices.
But a full amnesty would contradict the rules of the
Financial Action Task Force (FATF), a multilateral organization that
combats money laundering, terrorist financing and threats to the
integrity of the international financial system, financial consultants
and unidentified sources in the government told Vedomosti.
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