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International: SRPFR discusses model law harmonising AML legislation across CIS

The Federal Financial Monitoring Service ('Rosfinmonitoring') announced, on 15 November 2018, further to a meeting of the Council of Heads of Financial Intelligence Units of the Member States of the Commonwealth of Independent States ('SRPFR') held at the Commonwealth of Independent States Executive Committee in Belarus, on 14 November 2018, that a model anti-money laundering ('AML') law is being finalised. Furthermore, Rosfinmonitoring highlighted that the SRPFR focused on issues including AML, as well as the countering the financing of terrorism ('CFT') in the CIS, during the meeting.

The Director of Rosfinmonitoring, Yury Chikhanchin, noted, "Our main task is to harmonise the positions of the CIS countries in this direction, and after the adoption of the document, to bring the national laws of the states in line with it."

You can read the press release, only available in Russian, here