Global financial crime watchdog Financial Action Task Force (FATF) suspended Russia’s membership on Friday, saying Moscow’s war in Ukraine violated the organisation’s principles.
FATF is an inter-governmental organisation set up to combat money laundering and terrorism financing by setting global standards and checking if countries respect them.
“The Russian Federation’s actions unacceptably run counter to the FATF core principles aiming to promote security, safety, and the integrity of the global financial system”, the Paris-based group said in a statement.
