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Colombia :, Financial Sector Assessment Program-Report on the Observance of Standards and Codes on FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism

Abstract
Colombia has a reasonable understanding of its main domestic money laundering/terrorist financing (ML/TF) risks. The country’s understanding of risks relies particularly on the results of the 2013 and 2016 National Risk Assessments (NRAs). • The 2016 NRA has yielded reasonable findings with respect to the identification of the main ML threats and vulnerabilities. • The AML/CFT supervisory systems and tools are not entirely in line with the risk-based approach (RBA), and there are significant gaps in the supervision of designated non-financial businesses and professions (DNFBPs). • Colombia investigates and prosecutes ML effectively, but not in a manner that is commensurate with its ML risks
Table Of Contents
Cover -- CONTENTS -- Glossary -- KEY FINDINGS -- RISKS AND GENERAL SITUATION -- FINDINGS ON COMPLIANCE AND EFFECTIVENESS -- A. Assessment of Risk, Coordination, and Policy Setting -- B. Financial Intelligence, and ML Investigations, Prosecutions and Confiscation -- C. Terrorist Financing and Proliferation Financing -- D. Preventive Measures and Supervision -- E. Supervision -- F. Transparency of Legal Persons and Arrangements -- G. International Cooperation -- PRIORITY ACTIONS -- COMPLIANCE AND EFFECTIVENESS RATINGS
Language
eng
Literary Form
non fiction
Physical Description
1 online resource (13 pages)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781484384565

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