Ukraine is out FATF black list
Date: February 25, 2004Source: Computer Crime Research Center
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Ukraine is excluded from Financial Action Task Force (FATF) blacklist. FATF commission on Money Laundering at plenary session 25 February unanimously approved resolution to remove Ukraine from black list of countries that do not fight legalization of "dirty" money, President of Ukraine Leonid Kuchma announced at press conference in Kiev on February 25.
Ukraine was included on the black list in December 2002 due to a lack of legislation on fighting money laundering, FATF also recommended members to check carefully all financial operations carried out with Ukrainian contractors, Russian information agency "RIA Novosti" informs.
In February 2003 FATF sanctions were cancelled, though Ukraine remained in the "black list" of countries, which insufficiently struggle against money laundering till it would implement the new legislation for prevention of the legalization of "dirty" money. Such a resolution, as the official Internet-site of the FATF reports, has been adopted by the organization members on February 14, 2003.
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