Georgia Calls on FATF to Probe into Russian Banks in Abkhazia

The National Bank of Georgia (NBG) will request the Financial Action Task Force (FATF) on money laundering to probe into activities being carried out by Russian banks in breakaway Abkhazia, the NBG reported on February 6.

“The illegal cooperation of Russian banks with banking the institutions operating on the territory of Abkhazia is a rough violation of international norms,” a press release issued by the NBG reads.
 
The National Bank also plans to request that the Council of Europe Committee of Experts on the Evaluation of Anti-Money Laundering Measures (MONEYVAL) “impose sanctions against Russia.”