Caspian Report - Issue 06 - Winter 2014
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Cathedral of Saint<br />
Vasily, Russia.<br />
FATIH OZBAY<br />
132<br />
a full member of FATF in 2003. It not<br />
only became a full member but also<br />
gained ground in its fight against<br />
money laundering and assumed the<br />
term presidency of FATF between<br />
July 2013 and July <strong>2014</strong>. Russia<br />
wants to show the world its determination<br />
to turn a new page in financial<br />
terms. Putin’s signing of the law<br />
for preventing illicit financial flows<br />
in July 2013 is remarkable in this<br />
regard.<br />
FATF monitors previously convicted<br />
countries under two different lists as<br />
“black list” and “grey list” in terms of<br />
money laundering. As of 2013, there<br />
are 17 countries in FATF’s black list.<br />
Term president Russia was included<br />
in the black list until 2002. There<br />
are 22 countries in the grey list.<br />
Moreover, the Eurasian Group (EAG)<br />
which was established in 2004 with<br />
Russia’s initiative is a part of FATF. As<br />
the sub-unit of FATF, EAG’s aim can<br />
be summarized as fighting against<br />
money laundering and terror financing<br />
in Eurasia. Russia is highly active<br />
here. After becoming a FATF member,<br />
Russia is intensely working on
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