Financial Crime World

Title: Fighting Financial Crimes in Cape Verde: An In-depth Analysis of Anti-Money Laundering and Countering the Financing of Terrorism Measures

Date: April 3, 2009

This report provides a comprehensive evaluation of Cape Verde’s commitment to combating financial crimes through its anti-money laundering (AML) and countering the financing of terrorism (CFT) measures.

Table of Contents

  1. Introduction
  2. Cape Verde’s Compliance with FATF 40 Recommendations
  3. Strengths and Challenges of Cape Verde’s Financial Crime Measures
  4. Publication Information

1. Introduction

In this report, we delve into the details of Cape Verde’s regulatory framework to assess its compliance with international AML/CFT standards. This country report is part of a series and focuses on the subject of crime and revenue administration.

2. Cape Verde’s Compliance with FATF 40 Recommendations

Cape Verde, an island nation situated in the heart of the Atlantic Ocean, has a developing financial system, making it crucial to have robust AML/CFT measures in place. This section offers an overview of Cape Verde’s commitment to complying with the Financial Action Task Force (FATF) 40 recommendations.

  • Laws and Regulations
  • Predicate Offenses
  • Proceeds and Instrumentalities

2.1. Laws and Regulations

This subsection explains how Cape Verde’s laws and regulations provide a strong foundation for addressing money laundering and terrorist financing activities.

2.2. Predicate Offenses

Here, we discuss how Cape Verde’s framework addresses the predicate offenses of money laundering and terrorist financing.

2.3. Proceeds and Instrumentalities

This subsection covers how Cape Verde’s measures address the proceeds and instrumentalities of financial crimes.

3. Strengths and Challenges of Cape Verde’s financial crime measures

This section provides an overview of the strengths and challenges of Cape Verde’s financial crime measures.

  • Strengths:
    • Strong legal foundation
    • Addressing both predicate offenses and proceeds and instrumentalities
    • Protection of innocent parties’ rights
  • Challenges:
    • Limited resources
    • Lack of public awareness
    • Need for increased international cooperation

4. Publication Information

This section contains details regarding the publication date, accessibility, stock number, ISBN/ISSN, and page count of the report.

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