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Amendments to the law on countering the legalisation of criminal proceeds and the financing of terrorism

June 11, 2021

Vladimir Putin signed a Federal Law On Amendments to the Federal Law On Countering the Legalisation of Criminal Proceeds (Money Laundering) and the Financing of Terrorism.

The Federal Law establishes a legal foundation for monitoring efforts to counter the legalisation of criminal proceeds (money laundering), the financing of terrorism and the proliferation of WMDs. In particular, it determines the subject of monitoring and the organisations involved in it.

In addition, the Federal Law introduces the notion of “the national assessment of risk involved in transactions (deals) aimed at legalising criminal proceeds (money laundering) and financing of terrorism.” It determines that such an assessment be based on recommendations by authorised bodies.

June 11, 2021