EU Commission adds Russia to the EU’s high-risk third-country list for AML/CFT weaknesses, triggering enhanced due-diligence requirements for all EU FIs dealing with Russian-related business

Following a technical assessment under the revised anti-money laundering framework, the Commission identifies Russia as having “strategic deficiencies” in its AML/CFT regime and thus classifies it as high-risk under the new delegated regulation. As a result, EU entities subject to AML rules must apply enhanced vigilance measures — including stricter customer-due-diligence and transaction monitoring — when conducting transactions involving Russia or Russian-linked counterparties…