MOSCOW. (RIA Novosti economic commentator...

In the last several years, Russia has done a great deal to remedy the situation. In 1999 it signed the Council of Europe Convention on Laundering, Search, Seizure

and Confiscation of the Proceeds from Crime, in line with its obligations as a CoE member. One direct result of ratifying the Convention was the creation of national anti-money laundering legislation.

In 2001, Moscow adopted a law “On Countering the Legalization (Laundering) of Criminal Incomes.” Since money is mostly laundered through fiscal agencies, the law is aimed at acquiring and analyzing information about their financial operation. It includes a list of controllable transactions and a list of organizations that must inform the state about such deals.

The relevant organizations are lending establishments, professional players on the securities market, insurance, lease, mail and telegraph communications companies, and other non-lending organizations that transfer money, as well as pawn

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