FATF suspends Russia and grey-lists Africa’s largest economies

South African president pledges rapid reform as Yellen hails action against Russia


The Financial Action Task Force has suspended Russia’s membership, and “grey-listed” Africa’s two largest economies, Nigeria and South Africa, it announced on February 24.

This is the first time that the international anti-money laundering organisation has suspended any member since it was established in 1989. The FATF’s members voted for the move at its plenary session, which came on the first anniversary of Russia’s invasion of Ukraine.

The task force said the invasion violates “the FATF

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account