Prevention of Money Laundering and of the Financing of Terrorism to Ensure the Integrity of Financial Markets in Latin America and the Caribbean

Zapata S., Willy W.
Moreno Brid, Juan Carlos
Garry, Stefanie

2014-11

LC/L.3931
LC/MEX/L.1167

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This paper reviews the current status of the international fight against money laundering and the financing of terrorism, highlighting the importance of its prevention for economic and financial stability in Latin America and the Caribbean. It synthesizes the recent history of international legislation and agreements with respect to the issues, and presents the framework of public and private sector actors engaged in combating these threats. It reviews Latin American and Caribbean countries’ compliance with the Financial Action Task Force (FATF) (40 + 9) Recommendations, and analyzes the region’s performance with respect to their third round Mutual Evaluation Reports.

Abstract .-- I. Introduction .-- II. Background .-- III. Importance for the economy, the integrity of capital markets and financial stability, and effects in the real sector .-- IV. Methods and trends of money laundering and the financing of terrorism .-- V. The international community of the fight against money laundering and the financing of terrorism .-- VI. Current situation and new challenges for regulation and supervision in Latin America and the Caribbean .-- VII. Mexico’s compliance with the FAFT (40 + 9) recommendations .-- VIII. Conclusions.

REGULACION ECONOMICA; BLANQUEO DE FONDOS; FINANCIACION DEL TERRORISMO; COOPERACION INTERNACIONAL; MERCADOS DE CAPITAL; SISTEMAS MONETARIOS; RECURSOS FINANCIEROS; ECONOMIC REGULATION; LAUNDERING OF FUNDS; TERRORISM FINANCING; INTERNATIONAL COOPERATION; CAPITAL MARKETS; MONETARY SYSTEMS; FINANCIAL RESOURCES;