Guatemala's progress in strengthening measures to tackle money laundering and terrorist financing

Publication details

Language

English

Country

Guatemala

GAFILAT's 3rd Follow-Up Report Guatemala - 2018

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GAFILAT-3rd-Follow-Up-Report-Guatemala-2018.pdf
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This follow-up report analyses the progress made by Guatemala in addressing the technical compliance deficiencies identified in its mutual evaluation report. 

Guatemala has been making important progress in relation to addressing the technical compliance deficiencies identified in its MER and has been re-rated:

  • Recommendation 15 from Partially Compliant to Compliant
  • Recommendation 16 from Partially Compliant to Largely Compliant

Guatemala will continue in the enhanced follow-up process and will continue to report to GAFILAT on the progress made to strengthen its implementation of AML/CFT measures.

Technical Compliance

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

Guatemala Follow-Up Report 2018

R.1 - Assessing risk & applying risk-based approach
LC
R.2 - National cooperation and coordination
C
R.3 - Money laundering offence
LC
R.4 - Confiscation and provisional measures
LC
R.5 - Terrorist financing offence
PC
R.6 - Targeted financial sanctions related to terrorism & terrorist financing
PC
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
PC
R.15 - New technologies
C
R.16 - Wire transfers
LC
R.17 - Reliance on third parties
PC
R.18 - Internal controls and foreign branches and subsidiaries
C
R.19 - Higher-risk countries
C
R.20 - Reporting of suspicious transactions
LC
R.21 - Tipping-off and confidentiality
C
R.22 - DNFBPs: Customer due diligence
PC
R.23 - DNFBPs: Other measures
PC
R.24 - Transparency and beneficial ownership of legal persons
LC
R.25 - Transparency and beneficial ownership of legal arrangements
LC
R.26 - Regulation and supervision of financial institutions
C
R.27 - Powers of supervisors
LC
R.28 - Regulation and supervision of DNFBPs
PC
R.29 - Financial intelligence units
C
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
C
R.34 - Guidance and feedback
C
R.35- Sanctions
PC
R.36 - International instruments
C
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

Earlier report

  • 2 Feb 2017

    Guatemala's measures to combat money laundering and terrorist financing This report provides a summary of the existing anti-money laundering (AML)/counter-terrorist financing (CTF) measures in the Republic of Guatemala (hereinafter Guatemala) as at the date of the on-site visit, conducted during the period of November 23rd to December 4th, 2015. It analyses the level of effectiveness of Guatemala’s AML/CFT system and the level of compliance with the FATF 40 Recommendations, and provides recommendations on how the system could be strengthened.

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