Honduras' measures to combat money laundering and terrorist financing

Publication details

Language

English

Country

Honduras

GAFILAT completed its assessment of Honduras' anti-money laundering and counter-terrorist financing (AML/CFT) system. The assessment is a comprehensive review of the effectiveness of Honduras' AML/CFT system and its level of compliance with the FATF Recommendations. The mutual evaluation report was adopted by the GAFILAT Plenary in December 2015, following which, the report was subject to a quality and consistency review. 

The high-levels of organised crime in Honduras, mainly related to drug-related activies, are the main money laundering threat in Honduras.  The authorities' resources are mainly focused on attacking organised crime and the money laundering that results from it. The report presents the key findings of the assessment team and the priority actions for Honduras to improve its AML/CFT system. 

The findings of this assessment have also been reviewed and endorsed by the FATF. 

GAFILAT - Mutual Evaluation of Honduras - 2016

Filename
GAFILAT-MER-Honduras-2016-English.pdf
Size
2 MB
Format
application/pdf
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Technical Compliance

Ratings which reflect the extent to which a country has implemented the technical requirements of the FATF Recommendations.

Honduras Mutual Evaluation 2016

missOrigin

R.1 - Assessing risk & applying risk-based approach
PC
R.2 - National cooperation and coordination
LC
R.3 - Money laundering offence
LC
R.4 - Confiscation and provisional measures
C
R.5 - Terrorist financing offence
LC
R.6 - Targeted financial sanctions related to terrorism & terrorist financing
LC
R.7 - Targeted financial sanctions related to proliferation
PC
R.8 - Non-profit organisations
LC
R.9 - Financial institution secrecy laws
C
R.10 - Customer due diligence
LC
R.11 - Record keeping
C
R.12 - Politically exposed persons
LC
R.13 - Correspondent banking
C
R.14 - Money or value transfer services
C
R.15 - New technologies
C
R.16 - Wire transfers
PC
R.17 - Reliance on third parties
PC
R.18 - Internal controls and foreign branches and subsidiaries
LC
R.19 - Higher-risk countries
C
R.20 - Reporting of suspicious transactions
C
R.21 - Tipping-off and confidentiality
C
R.22 - DNFBPs: Customer due diligence
LC
R.23 - DNFBPs: Other measures
PC
R.24 - Transparency and beneficial ownership of legal persons
NC
R.25 - Transparency and beneficial ownership of legal arrangements
LC
R.26 - Regulation and supervision of financial institutions
LC
R.27 - Powers of supervisors
C
R.28 - Regulation and supervision of DNFBPs
PC
R.29 - Financial intelligence units
LC
R.30 - Responsibilities of law enforcement and investigative authorities
C
R.31 - Powers of law enforcement and investigative authorities
C
R.32 - Cash couriers
C
R.33 - Statistics
PC
R.34 - Guidance and feedback
NC
R.35- Sanctions
PC
R.36 - International instruments
LC
R.37 - Mutual legal assistance
LC
R.38 - Mutual legal assistance: freezing and confiscation
LC
R.39 - Extradition
LC
R.40 - Other forms of international cooperation
LC

C = compliant   |   LC = largely compliant     |   PC = partially compliant   |   NC = non-compliant

Effectiveness

Ratings that reflect the extent to which a country's measures are effective. The assessment is conducted on the basis of 11 immediate outcomes, which represent key goals that an effective AML/CFT system should achieve.

Ratings that reflect the extent to which a country's measures are effective. The assessment is conducted on the basis of 11 immediate outcomes, which represent key goals that an effective AML/CFT system should achieve.

Honduras Mutual Evaluation 2016

missOrigin

IO1
ME
IO2
SE
IO3
ME
IO4
ME
IO5
LE
IO6
ME
IO7
ME
IO8
HE
IO9
SE
IO10
ME
IO11
LE

HE = high level of effectiveness   |   SE = substantial level of effectiveness    |   ME = moderate level of effectiveness   |   LE = low level of effectiveness

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