Financial Crime World

Peru’s AML Guidelines Receive High Marks from Global Standard Setter

Lima, Peru - FATF Assessment Highlights Country’s Progress in Combating Money Laundering and Terrorist Financing

The Financial Action Task Force (FATF) has given Peru high marks for its implementation of Anti-Money Laundering (AML) guidelines, recognizing the country’s strong commitment to preventing money laundering and terrorist financing.

Key Findings


  • Peru received compliant ratings in 21 out of 40 key areas, including:
    • National cooperation and coordination
    • Confiscation and provisional measures
    • Targeted financial sanctions related to terrorism and terrorist financing
  • The country also received largely compliant ratings in several other areas, such as:
    • Assessing risk and applying a risk-based approach
    • Money laundering offense
    • Customer due diligence

Areas for Improvement


  • Peru received partially compliant ratings in the following areas:
    • Non-profit organizations
    • Record keeping
    • Internal controls and foreign branches and subsidiaries
  • In one area, transparency and beneficial ownership of legal persons, Peru was rated non-compliant.

FATF Report Highlights Progress and Commitment


The report notes that while there are still some areas for improvement, Peru has made significant progress in implementing its AML guidelines. The country’s Finance Minister praised the efforts, saying:

“We are committed to protecting our financial system from money laundering and terrorist financing. We will continue to work with the FATF and other international partners to ensure that our AML guidelines meet the highest standards.”

Impact on International Reputation and Foreign Investment


The report is expected to have a positive impact on Peru’s international reputation and its ability to attract foreign investment.

Conclusion


Peru’s commitment to implementing AML guidelines has been recognized by the FATF, highlighting the country’s progress in combating money laundering and terrorist financing. The country will continue to work towards strengthening its financial sector and meeting the highest standards set by international organizations.