FATF: COSTA RICA AML/CFT FOLLOW-UP REPORT

On 9th November, FATF published the 5th follow-up report following the mutual evaluation of the country in 2015.  It says that Costa Rica has been making important progress in relation to addressing the technical compliance deficiencies identified in its MER and has been re-rated – Recommendations 23 from Partially Compliant to Largely Compliant; and Recommendation 29 from Partially Compliant to Compliant.  It has shown progress in Recommendations 8, 22, 28, and 35, however, progress is not considered to be enough to upgrade the rating of these Recommendations.  Costa Rica will continue in the enhanced follow-up process and will continue to report to GAFILAT on the progress made to strengthen its implementation of AML/CFT measures.

costa

http://www.fatf-gafi.org/publications/mutualevaluations/documents/fur-costa-rica-2018.html

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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