Croatia Steps Up Fight Against Financial Crime

Croatia has taken significant strides in combating money laundering and terrorist financing, as evident from a recent assessment. The country has made substantial progress in adhering to key recommendations by the Financial Action Task Force (FATF), resulting in an upgrade of its rating.

Improvements Achieved

Croatia has demonstrated notable improvements in six key areas:

• Recommendation 10: Upgraded from “Partially Compliant” to “Largely Compliant”
• Recommendation 13: Elevated from “Partially Compliant” to “Compliant”
• Recommendations 17, 22, 23, and 32: Upgraded from “Partially Compliant” to “Largely Compliant”
• Recommendation 40: Upgraded from “Partially Compliant” to “Largely Compliant”

Areas Requiring Attention

While significant progress has been made, there are still four recommendations that require attention:

• Recommendations 1 and 2: Rated as “Partly Compliant”
• Recommendation 15: Rated as “Partly Compliant”
• Recommendation 24: Rated as “Partly Compliant”

Overall Assessment

The assessment reveals that Croatia has made substantial progress in addressing technical compliance shortcomings identified during its Mutual Evaluation Report. The country’s current rating stands at:

• 5 Recommendations rated as “Compliant”
• 23 Recommendations rated as “Largely Compliant”
• 12 Recommendations rated as “Partially Compliant”

This upgrade reflects Croatia’s commitment to strengthening its anti-money laundering and counter-terrorist financing framework, ultimately enhancing the country’s financial integrity.