FinCEN Advisory: Transactions Involving the Russian Federation, November 2002, Issue 25A [Withdrawal] [open pdf - 62KB]
The FinCEN Advisory "...is a recurring series designed for the financial, regulatory and law enforcement communities. Subsequent advisories will describe trends and developments related to money laundering and financial crime." In this issue of FinCEN: "This Advisory is being issued to inform banks and other financial institutions operating in the United States that Financial Crimes Enforcement Network (FinCEN) Advisory 25, regarding the Russian Federation, is hereby withdrawn. Since the issuance of Advisory 25, Russia has enacted significant reforms to its counter-money laundering system, addressing the points noted in Advisory 25, and has taken concrete steps to bring these reforms into effect. Because of the enactment of new laws and the beginning of effective implementation, enhanced scrutiny with respect to transactions involving Russia, as called for in Advisory 25, is no longer necessary. Russia now has in place a counter-money laundering system that generally meets international standards, as reflected in the October 11, 2002 decision of the Financial Action Task Force on Money Laundering to remove Russia from its list of countries that are non-cooperative in the fight against money laundering."
Financial Crimes Enforcement Network: http://www.fincen.gov
FinCEN Advisory (November 2002), iss.25A