Press Release from the Financial Action Task Force on Money Laundering

The Embassy of Ukraine in Canada informs herewith that the Financial Action Task Force on Money Laundering has issued a press-release on 14 February, 2003, which states the following:

FATF members have decided to withdraw the application of additional counter-measures with respect to Ukraine as a result of the recent enactment by Ukraine of comprehensive anti-money laundering legislation that addresses the main deficiencies identified by the FATF in 2001 and reaffirmed in December 2002. However, Ukraine will remain on the list of NCCTS until it has implemented effectively its new anti-money laundering legislation. FATF President, Jochen Sanio, said: "This is a significant success for the FATF and Ukraine in the fight against money laundering. Close monitoring of implementation issues will be crucial in determining an appropriate time for Ukraine’s removal from the NCCT list."

Embassy of Ukraine in Canada