AML/CFT: SECOND REPORT OF INTENSIFIED MONITORING OF NICARAGUA

On 1st February, GAFILAT, the regional FATF-style body, in December adopted the 2nd monitoring report.  Published in January, it is a follow-up to the mutual evaluation report (MER) of July 2017. It analyses Nicaragua’s progress in addressing certain technical compliance deficiencies which were identified in Nicaragua´s MER.  Re – ratings are given where sufficient progress has been made.  The report also analyses Nicaragua’s progress in the implementation of the new requirements in relation to the FATF Recommendations that changed since the on-site visit to Nicaragua.  It says that, overall, Nicaragua has been making significant progress in addressing the technical compliance deficiencies identified in its MER and has been rerated in Recommendations 5 to Largely Compliant, 11 to Compliant, 20 to Largely Compliant, 21 to Compliant, and 28 to Partially Compliant.  Nicaragua will continue the enhanced follow-up process.

http://www.gafilat.org/index.php/es/espanol/19-noticias/76-segundo-informe-de-seguimiento-intensificado-de-nicaragua

Nicaragua

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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