CUBA: FOLLOW-UP AML/CFT REPORT
On 22 January, FATF-style regional body GAFILAT published the Fourth Regular Monitoring and Requalification Report on Technical Compliance of the Republic of Cuba. It analyses the country’s progress towards addressing technical compliance deficiencies identified in its Mutual Evaluation Report (MER) of 2015 (after which Cuba was placed in the regular follow-up process). It is said that Cuba has addressed its technical compliance deficiencies identified in the MER in relation to –
FATF Recommendation 31, originally rated PC, now Compliant;
FATF Recommendation 28, originally rated PC, now compliant; and
FATF Recommendation 35, originally rated PC and which has not been re-rated.
The report also reviews other FATF Recommendation ratings since the MER, with Recommendation 15 (new technologies) downgraded from C to PC. Cuba will continue in the regular follow-up process and will continue to report to GAFILAT on the progress made to strengthen its implementation of AML/CFT measures.
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