In today’s press release, the FATF, of which Canada is a member, announced that it would apply additional counter-measures to Ukraine. These counter-measures are due to that country’s failure to enact comprehensive anti-money laundering legislation that meets international standards. The Ukraine is identified on the FATF's list of non-cooperative countries. For a current listing of all the non-cooperative countries and territories, please refer to the FATF Internet site at http://www1.oecd.org/fatf/NCCT_en.htm.

Accordingly, with respect to any business or affairs that may be transacted by financial institutions with persons or entities domiciled in Ukraine, we request that your financial institution, whether directly or through any subsidiary or branch operations, exercise due diligence and caution in reviewing any transactions with such persons or entities. In addition, we request that you undertake appropriate customer identification due diligence to ensure that the principals or beneficial owners are identified.

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has also issued an advisory with respect to this action.

Thank you very much for your anticipated co-operation in this matter.