The Financial Action Task Force (GAFI) against money laundering and the financing of terrorism asked its global network, which covers more than 200 countries, to guarantee humanitarian aid that supports the population in the framework of Russia’s invasion of Ukraine.
In a position that it gave at the end of its most recent plenary meeting, the organization still chaired by the German Marcus Pleyer, asked its member countries, including Mexico, to guarantee that non-profit organizations can provide humanitarian assistance that is required, without delays, interruptions or discouragement.
“The GAFI reminds all jurisdictions that the requirements of the group’s standards applicable to non-profit organizations cannot be used to justify the intimidation or repression of legitimate humanitarian activities”, highlighted the organization in a position on the armed conflict that is being experienced in Ukraine.
Among its 40 recommendations, the GAFI suggests that each country should review the suitability of laws and regulations to prevent non-profit organizations from being misused for money laundering or terrorist financing.
In this context, the agency noted that these standards must not be a justification for the intimidation or repression of legitimate humanitarian activities carried out in Ukraine in the face of the invasion of Russia.
Risks are increased
For the organization, in addition to the tragedy, the situation of the invasion of Ukraine is worrying, because this could increase risks for money laundering, financing of terrorism and the proliferation of weapons of mass destruction, with effects that could undermine the integrity of the financial system and the economy in general.
“The GAFI calls on the competent authorities of all jurisdictions to provide advice and facilitate the exchange of information with their private sectors on the evaluation and mitigation of any emerging risks, including in relation to virtual assets, as well as other threats to international security ”, limited the organism.
Likewise, he stressed that cybercriminal activity could increase, in the context of the armed conflict that is being experienced in Ukrainewhich could affect financial institutions and systems.
“Such activity could prevent access to financial services to legitimate users who need to access vital services”; added the agency.
The GAFI highlighted the progress made Ukraine in the fight against money laundering in recent years; however, he expressed concern that the military invasion could inhibit the progress that has been made in this nation.
Lastly, the GAFI highlighted that the actions of Russia against Ukraine They go against the fundamental principles of the organization and assured that they represent a serious violation of the commitment to implement its standards against money laundering, for which it will consider what future steps will be necessary to defend said values.
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