Russian Ratifies European Laundering Convention and Enacts New Anti-Laundering Law

On August 2, 2001, Russia completed ratification of the European Convention on Money Laundering and on August 7 Russia enacted a new anti-money laundering law. On August 2, 2001, Russia’s ambassador to the Council of Europe, Alexandre K. Orlov, completed procedures by handing over the instrument of ratification to officials at the Council of Europe headquarters. The Convention provides for various forms of investigative assistance, such as the lifting of bank secrecy, transmitting information to another state without a prior request, and adoption of common investigative techniques…[more]