Costa Rica Makes Progress in Money Laundering Laws, But Minor Deficiencies Remain

A Step Forward in Compliance

Costa Rica has continued to address technical compliance issues identified in its Mutual Evaluation Report (MER), with significant progress made in implementing international standards on money laundering. However, despite this progress, minor deficiencies remain in the implementation of some recommendations.

Progress and Upgrades

• Recommendation 17: Upgraded from partially compliant to fully compliant
• Recommendations 22 and 28: Moved from partially compliant to largely compliant

These upgrades demonstrate Costa Rica’s commitment to improving its anti-money laundering laws and regulations. The country is making efforts to strengthen its compliance with international standards.

Ongoing Efforts

Costa Rica will continue to work on improving technical compliance with international standards in preparation for the Fifth Round of Mutual Evaluations. This process allows the country to analyze progress made and identify areas for further improvement.

Conclusion

While Costa Rica has made significant strides in addressing technical compliance issues, minor deficiencies remain. The country’s ongoing efforts to improve its anti-money laundering laws and regulations will be closely monitored as part of the Fifth Round of Mutual Evaluations.