A draft law on the adaptation of Ukrainian legislation to individual FATF standards has been registered

The draft law aims to introduce international standards into the legislation of Ukraine regarding the fight against money laundering and terrorist financing, as well as to protect the country's economic, internal interests and national security.

According to the details of the draft law, the following measures are proposed:

1. Amendments to the Law "On Sanctions," which expand the definition of this law and introduce prohibitions for citizens of Ukraine, foreigners, and legal entities regarding the provision of any assets or financial services to persons on the list of persons associated with terrorist activities or which are subject to international sanctions.
2. Amendments to the Law "On prevention and combating the legalization (laundering) of proceeds of crime, the financing of terrorism and the financing of the proliferation of weapons of mass destruction," including the Russian Federation in the list of countries that do not cooperate in the field of combating money laundering and terrorist financing. It is also envisaged to expand the powers of the National Securities and Stock Market Commission to ensure transparency of the ownership of legal entities, similar to the powers of the National Bank.

This draft law is aimed at ensuring compliance of Ukrainian legislation with international standards and strengthening the national security and financial stability of the country.