Statement by Secretary of the Treasury Janet L. Yellen on Suspension of Russia from the Financial Action Task Force


WASHINGTON – Today, the Financial Action Task Force (FATF), the international standard-setting body on illicit finance, suspended the Russian Federation from its membership. This is the first time in the FATF’s 34-year history that the body has taken such unprecedented action, a step warranted by Russia’s unlawful, immoral, and unprovoked war against Ukraine.

FATF members lead the global effort on combatting money laundering and the financing of terrorism and proliferation and members are expected to uphold and promote core principles that safeguard the global financial system.  Russia’s ongoing war undermines the principles of international cooperation and mutual respect that underpin the mandate of the FATF.

In its public statement, the FATF expressed growing concern over reports of arms trade by Russia with United Nations sanctioned countries and malicious cyber-activities emanating from Russia. The FATF advises that jurisdictions remain vigilant of threats to their financial system arising from Russia’s war against Ukraine.

“The United States commends the FATF’s historic decision to suspend Russia’s membership in the body,” said Secretary of the Treasury Janet L. Yellen. “Russia’s disregard for the sovereignty and territorial integrity of Ukraine is at odds with the FATF’s foundational values of international cooperation and the rule of law. Further, Russia’s dealings with suppliers of last resort such as Iran and North Korea, its government-driven efforts to evade international sanctions and export controls, and other activities like harboring cybercriminals or the Wagner Group make it a haven for illicit finance – the very thing the FATF works to combat.”

At this week’s plenary, the FATF also approved an updated standard on legal arrangements such as trusts as well as new guidance on beneficial ownership transparency of companies to stop their misuse by criminals. The FATF adopted its first-ever report on ransomware that urges countries to take immediate steps to identify and disrupt ransomware finance and to implement the FATF standards for virtual assets as soon as possible. In addition, the FATF adopted the Mutual Evaluation Reports of Indonesia and Qatar. 

Outcomes of the FATF Plenary, 24 February 2023


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StormForge Announces Partnership With Kumina

StormForge and Kumina partner to help customers achieve Kubernetes efficiency and reduce cloud costs.

StormForge Announces Partnership With Kumina
StormForge Announces Partnership with Kumina

Illustrated newspaper 'StormForge Times' with front page article announcing Kumina partnership

StormForge, the leader in Kubernetes resource optimization, today announced their partnership with Kumina. The Netherlands-based company with over a decade of experience in providing mission-critical IT services will offer StormForge's Kubernetes resource optimization solution Optimize Live.

Together, Kumina and StormForge will provide Kubernetes users with an all-inclusive package comprising managed Kubernetes services and advanced optimization capabilities.

This partnership will help users enhance the performance and efficiency of their Kubernetes clusters, reducing costs and freeing up resources to focus on other aspects of their business. Consequently, Kumina's expertise in managing Kubernetes clusters with customized IT solutions will assist users in maximizing the performance of the optimization platform provided by StormForge.

Kumina's CEO Tim Stoop is enthusiastic about the benefits customers gain from integrating StormForge:

"I was impressed how Optimize Live has solved a whole class of customer issues with one solution, reliably and deterministically, while actually allowing resource usage to go down as a whole. We can help customers scale with confidence and cut costs with StormForge without sacrificing user experience. I am really excited about the potential that StormForge brings to the table."

Optimize Live

StormForge Optimize Live applies machine learning to existing Kubernetes metrics to make real-time, actionable recommendations to resource settings for any deployment running in Kubernetes. By optimizing CPU and memory settings, customers can save cloud resources and money, reduce the business risk of poorly performing applications, and get their developers focused on innovating, not tuning their Kubernetes environment. StormForge's Solutions Architect Niels Roetert expresses enthusiasm regarding the benefits afforded by the solution:

"StormForge Optimize Live provides Pod resource right-sizing and can set optimal TargetUtilisation values for Kubernetes HPA to operate on. It does so continuously and without any human effort (configurable) at large scale. This results in resource and cost savings most of the time, when beneficial, resources are actually added to facilitate a better performing and more reliable application, which is a win-win for the application owner either way."

About Kumina

Kumina supports its customers by a fully managed Kubernetes solution that includes consulting, training and unlimited support hours. The company focuses on enhancing the infrastructure and cloud hosting capabilities of its customers in order to improve the performance, reliability, and security of their IT systems. For more information, please visit: 

About StormForge

StormForge brings together world-class data scientists and software engineers to enable breakthrough IT and operations efficiency. StormForge is set apart by its unwavering focus on building AI-powered software products that are designed to help people, not replace them. The StormForge platform uses ML to significantly reduce cloud costs and improve reliability by right-sizing Kubernetes application resources, automatically and continuously. For more information, please visit:

Contact Information:
Tom Ellery
[email protected]

Paraskevi Tragotsalou
[email protected]

Original Source: StormForge Announces Partnership With Kumina

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