Day: January 21, 2023

A news release from the Financial Crime Investigation Service advises that an AML/CFT evaluation follow-up from Moneyval says that Lithuania has improved its measures to combat money laundering and terrorist financing; it has been upgraded from “partially compliant” to “largely compliant” with FATF Recommendations 24 and 32, related to transparency of legal persons and cash couriers.  Overall, Lithuania has achieved full compliance with 8 of the 40 FATF Recommendations constituting the international AML/CFT standard and retains minor deficiencies in the implementation of 27 Recommendations where it has been found “largely compliant”.  5 Recommendations remain “partially compliant” and Lithuania has no “non-compliant” rating.  Consequently, Lithuania is expected to report back to MONEYVAL on further progress to strengthen its implementation of AML/CFT measures in 1 year’s time.

https://www.fntt.lt/en/press-releases/moneyval-report-on-lithuania-improvements-in-transparency-of-legal-persons-and-in-powers-of-customs-authorities/4265

https://www.coe.int/en/web/moneyval/-/moneyval-report-on-lithuania-improvements-in-transparency-of-legal-persons-and-in-powers-of-customs-authorities

https://rm.coe.int/moneyval-2022-14-fur-lt/1680a9c7f1

https://www.buymeacoffee.com/KoIvM842y

On 19 January, following the release of the most recent reports, FATF issued an updated version of its consolidated schedule of all AML/CFT ratings to date.

https://www.fatf-gafi.org/content/fatf-gafi/en/publications/Mutualevaluations/Assessment-ratings.html

On 19 January, FATF issued the 9^th follow-up report and 4^th technical compliance update on Uganda.  It says that Uganda has made significant overall progress in resolving the technical compliance shortcomings identified in its mutual evaluation report and ratings for 2 FATF Recommendations have been revised.  The country has addressed the deficiencies in respect of the following Recommendations which have been re-rated as follows:

• Recommendation 12 (initially rated PC) is re-rated to Compliant
• Recommendation 22 (initially rated PC) is re-rated to Largely Compliant

Uganda will remain in enhanced follow-up and will continue to inform ESAAMLG, the FATF-style regional body, of the progress made in improving and implementing its AML/CFT measures.  The follow-up report (FUR) analyses the progress Uganda made in addressing the technical compliance deficiencies identified in its 2015 MER and ensuing FUR.

https://www.fatf-gafi.org/content/dam/fatf/documents/ESAAMLG-Follow-Up-Report-Uganda-2022.pdf.coredownload.pdf