VENEZUELA MIGHT FACE FATF BLACKLISTING AS SANCTIONS PILE UP FOLLOWING CONTESTED ELECTION
September 23rd, 2024
Venezuela, whose July presidential election has been contested by its political opposition as fraudulent, is facing an increase in financial controls having been grey listed by FATF this June (2024). This was over failures to respond to the global body’s requests for improvements in AML/CFT. In a communiqué, FATF said the country had significant work to do. That involves strengthening its understanding of ML/TF risks, including in relation to TF; ensuring beneficial ownership information is accessible promptly; boosting the resources of the FIU, the ...
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