A possible poor rating for Costa Rica in the fight against money laundering was suspended by the International Financial Action Task Force (IFATF), at the meeting of the organization that is held in Valencia, Spain.
The decision would be taken next October, in the second meeting of the group. The IFATF is an international organization, founded in 1989 by the members of the G8.
It seeks to establish policies that will make more effective legal, regulatory and operational measures to fight money laundering, terrorist financing and the financing of the proliferation of weapons of mass destruction and other threats, by issuing 40 international recommendations.
In a press release from Casa Presidencial, it is indicated that the team of evaluators highlighted the enactment of certain laws as progress:
-Law 9449 establishes measures for the supervision of DNFBPs (Designated Non-Financial Activities and Professions).
-Law 9416 establishes the registration of final beneficiaries of legal entities.
-Instructions from the Prosecutor’s Office to coordinate financial investigations when money laundering is detected.
In a few weeks we will have a new exchange with the evaluators so that they can update the observation report, applying the new Procedural Guidelines of the 4th round. We hope to arrive at this point with the implementation of new administrative measures that allow us to advance the pending issues,”
said Guillermo Araya, Director of the ICD.