Russian Federation: Financial Sector Assessment Program : Technical Note-Anti-Money Laundering and Combating the Financing of Terrorism

This technical note (TN) sets out the findings and recommendations made in the Financial Sector Assessment Program (FSAP) for the Russian Federation (RF) in the areas of Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT). It summarizes the findings of a targeted review of several aspects of the RF's progress in addressing vulnerabilities in the financial sector, specifically the banking sector. A full assessment of the AML/CFT framework against the current FATF standard will be conducted by the FATF, Eurasia Group and MONEVYAL, and will be available in 2019. Although significant steps have been taken to strengthen the AML/CFT regime since the 2008 mutual evaluation report, the authorities are continuing to bring the AML/CFT framework in line with the 2012 FATF standard and improving its effectiveness.