EU to continue to assist Russia in countering money laundering

The European Union is to allocate more than EUR 3 mln to help counter money laundering and the financing of terrorism in Russia.

An EU-financed project with a EUR 3.15 mln budget will run until 2010 and will be implemented by the Council of Europe based on the successful results achieved during the first project between 2003 and 2005.

The goal of the project is to assist to the Federal Financial Monitoring Service (Rosfinmonitoring) and other organizations in countering the legalization of revenues acquired by criminal methods and the financing of terrorism through implementing European and international standards, exchanges of experience and strengthening staff potential at key institutions within the money laundering countering system.

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