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Russia will not be able to participate in FATF future projects, T Raja Kumar announces ban

Paris: Russia has been barred from participating in future projects of the Financial Action Task Force (FATF). FATF President T Raja Kumar, while addressing a press conference in Paris, said the move comes in the wake of Moscow’s invasion of Ukraine. Kumar said Russia’s action violated the core principles of FATF, which aims to promote the security and integrity of financial systems. He said that as a result of Russia’s continued actions, the FATF has decided to impose additional restrictions on the country’s remaining role, including barring it from participating in current and future FATF projects.

Russia has also been barred from attending meetings of FATF-style regional bodies. Kumar said these measures expand on steps taken by the FATF in June, which stripped Russia of all its leadership roles, among other sanctions. The FATF will continue to monitor the situation and consider at each of its plenary meetings whether there are grounds for removing or modifying these restrictions. He said that following the statements issued in March, April and June 2022, the FATF reiterates that it should be alert to the threats posed by measures taken against Russia to protect the international financial system.

Who is FATF President T Raja Kumar
T Raja Kumar is a Singaporean official. He replaced Dr. Marcus Plier as the head of the FATF on 1 July 2022. T Raja Kumar has led the Singapore delegation to the FATF since 2015. Raja Kumar holds an LLB (Hons) degree from the National University of Singapore. He holds a Master’s degree in Philosophy (Criminology and Law) from the University of Cambridge. Kumar also attended the Advanced Management Program at Harvard University in 2006. Kumar has served in the Ministry of Home Affairs in Singapore and the Singapore Police Force as a senior officer for over 35 years.

T Raja Kumar has worked in top positions in Singapore Police
Presently, he is serving as Senior Adviser (International) in the Ministry of Home Affairs of Singapore. Prior to this, he was Deputy Secretary (International) in the ministry from January 2015 to July 2021. Between 2014 and 2018, he was the Chief Executive Officer of the Academy of the Ministry of Home Affairs. He has also served as Deputy Commissioner (Policy) of the Singapore Police, Director of Police Intelligence and Senior Deputy Director of the Department of Commercial Affairs. They put in place a strong regulatory framework for new casinos in Singapore, including significant measures to prevent anti-money laundering and terror financing.



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