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Capital Amnesty Put Russia In the Face Of Sanctions Toughening
22.01.2015 08:20
Capital Amnesty Put Russia In the Face Of Sanctions Toughening
(Source: http://mfd.ru/news/view/?id=1897912)

Full capital amnesty promised by the President Vladimir Putin before the Federal Assembly contradicts the rules of the organization combating illegal legalization of FATF funds, aimed against funds laundering.

      This was written by “Vedomosti”, referring to the data received from unnamed federal officials. According to the rules of FATF, amnesty should not include even partial exemption from compliance with laws on combating money laundering and terrorism financing. Violations from this principle may bring serious consequences – up to inclusion into a blacklist. At the same time, the assistant to the president Andrei Belousov stated that the restrictions of FATF would be considered and the inclusion into the list was excluded. According to him, the amnesty will not affect suspicious capital obtained as a result money laundering or drug trafficking.

      Besides, the government noted that fraud, corruption and economic crimes also should not fall under the amnesty, so it will have to be limited only to fiscal and monetary violations. The black list of countries financing terrorism or carrying out illegal funds legalization is now represented by the six states, including Iran, North Korea and Ecuador. Russia was on the list until 2002. In case of return to the list the consequences may be even worse than these of the current sanctions.


Sources: http://lenta.ru 


Author: Anna Dorozhkina

Tags: capital amnesty     

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