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Latin America Investment News on Viva Tropical

Honduras Moves Up a Notch on Money Laundering Blacklist to Grey

Article Summary:

Authorities from the Financial Action Task Force (CFATF) moved Honduras off the money laundering blacklist, which represents a positive development that will help attract foreign investment to the country. Historically, Honduras did little or nothing in the fight against money laundering and had to demonstrate their commitment to the CFATF to fight this arm of organized crime to receive the upgrade.

Photo Credit: La Tribuna

Original Article Text From La Tribuna via Google Translate :

Bring To Honduras Gray List Of Countries With Money Laundering

Authorities Financial Action Task Force (CFATF) brought to Honduras in the gray list with money laundering, which represents a positive development that will attract foreign investment, as determined by the National Commission on Banking and Insurance (CNBS) .

The CFATF is an organization of 29 States of the Caribbean Basin, which have agreed to implement common countermeasures to address the problem of criminal money laundering.

It was established as a result of a series of meetings convened in Aruba in May 1990 and Jamaica in November 1992.

In a statement on your website, the organization welcomes reports that significant progress in improving Honduras against money laundering and combating the financing of terrorism.

“It has fulfilled its commitments in its action plan with regard to strategic gaps in February 2010,” the statement said.

It also highlights that “Honduras is not subject to monitoring processes CFATF, as part of its ongoing process of global compliance.”

He adds that “Honduras to work with CFATF continues to address the full range of issues identified in the mutual evaluation agreement to combat money laundering and terrorist financing cost.”

The president of the CNBS, Vilma Morales, said that the determination of the CFATF can give certainty to the financial system is healthy, like the other institutions supervised.

“It is a fundamental point announced by the agency, which is like having an agreement with the International Monetary Fund, a scheme of external financing for our country and great news for investment, security and certainty.”

Honduras appeared on the blacklist of countries that did little or nothing in the fight against money laundering, and before November 2011 had to demonstrate effectiveness and court actions their commitment to fight this tentacle of organized crime, as a warning made ​​by the CFATF

Link to Original Article:

From La Tribuna

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