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Costa Rica Launches Strategy Against Money Laundering and Terrorism Financing

ISSN:1089-1560
LADB Article ID: 79703
Category/Department: Costa Rica
Date: 2015-07-16
By: George Rodríguez

Costa Rica’s action plan to combat—and guard against—money laundering and terrorism financing came to life less than a year after its conception. Work on the Estrategia Nacional de Lucha contra la Legitimación de Capitales y el Financiamiento al Terrorismo (National Strategy to Fight Money Laundering and Terrorist Financing) began last September, with 40 Costa Rican institutions participating in the process. External support is coming mainly from the International Monetary Fund (IMF) and also from the Inter-American Development Bank (IDB). The result: a document containing 30 aims, translated into an equal number of projects—10 of which have been prioritized—ranging from legislation reform to—the centerpiece—an information- and statistics-sharing network. The strategy fits the three main principles in the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) system of the Grupo de Acción Financiera de Latinoamérica (GAFILAT): prevention, detection and intelligence, and investigation and criminal justice.

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