Risks of Russia’s Inclusion in the FATF ‘Black’ or ‘Grey’ List

The Financial Action Task Force on Money Laundering (FATF) conducts regular monitoring of countries with serious deficiencies in their anti-money laundering and combating terrorist funding (AML/CFT). In this regard, the FATF forms 2 lists of countries showing weak AML/CFT measures, which are published 3 times a year: “black” and “grey.” The “black” list includes jurisdictions showing grave AML/CFT faults. The “grey” list includes jurisdictions with deficiencies in AML/CFT regimes that express their willingness to cooperate with the FATF to address these faults. Given the suspension of Russia’s membership in the Task Force, there are risks of Russia’s inclusion in one of these lists