The Monetary Motion Activity Pressure met for a 5 day assembly in Paris. (Representational)

Paris:

International anti-money laundering watchdog the Monetary Motion Activity Pressure mentioned on Friday it has suspended Russia’s membership over Moscow’s invasion of Ukraine.

The FATF units requirements for greater than 200 nations and jurisdictions and seeks to assist authorities deal with critical crime together with drug smuggling, human trafficking and terrorism.

“The Russian Federation’s actions unacceptably run counter to the FATF core ideas aiming to advertise safety, security, and the integrity of the worldwide monetary system,” the group mentioned.

It added that Russia was nonetheless accountable for implementing FATF’s requirements.

Following a five-day assembly in Paris, FATF added Nigeria and South Africa to its listing of nations topic to elevated monitoring, and eliminated Cambodia and Morocco from the class.

Russia has been expelled from the Council of Europe and suspended from the UN Human Rights Council, however continues to be a member of many worldwide organisations.

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