The country fares well in the war on money laundering
Santo Domingo.- The Dominican Republic fares well with the measures in the new Money Laundering Law and its fight against drug trafficking and terrorism, according to the Mutual Evaluation Report of the Fourth Round of this year’s Financial Action Group of Latin America (Gafilat).
The Anti-Money Laundering and Anti-Terrorist Financing (AML/CFT) highlights the measures in effect at the date on which the study was carried out
The research conducted between January 15 and January 25, 2018 analyzes the information provided by the country on the level of compliance with the FATF 40 Recommendations and the level of effectiveness of the system to combat this scourge.
It affirms that the authorities have made efforts to combat the laundering of assets linked to drug trafficking, which is consistent with the risks identified in the National Risk Strategy (NRA).
It notes however that despite those efforts there are few cases linked to other threats identified.
It adds that there are significant cases of prosecutions and money laundering convictions of predicate offenses committed abroad.