Nicaragua: Report on Observance of Standards and Codes: FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism

September 8, 2010

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Nicaragua: Report on Observance of Standards and Codes: FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism, (USA: International Monetary Fund, 2010) accessed December 22, 2024

Summary

In 2008, Nicaragua introduced legislation criminalizing money laundering (ML) and the financing of terrorism (FT) that is generally adequate, except for some key deficiencies. The Antimony Laundering and Combating the Financing of Terrorism (AML/CFT) preventive measures for the regulated financial sector, including its supervision, is broadly in compliance with the international standard, but the financial cooperative sector is not regulated. There was no evidence of FT risk, and there have been no suspicious transaction reports or investigations in this regard. Nicaragua does not have an FIU and generally lacks an adequate AML/CFT institutional framework.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Crime, Legal support in revenue administration, Money laundering, Revenue administration, Terrorism financing

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Authority, Caribbean, Central America, CFT regulation, Company, CR, Customs authorities, Financial system, ISCR, Law enforcement authorities, Legal support in revenue administration, Money laundering, Money transfer firm, North America, Penal code, Remittance company, SIBOIF regulation, South America, Terrorism financing, The SIBOIF, Western Hemisphere

Publication Details

Pages:

22
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2010/283
Stock No:

1NICEA2010002
ISBN:

9781455203680
ISSN:

1934-7685

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