San Marino Steps Up Efforts to Prevent Terrorist Financing

Global Watchdog Praises San Marino’s Progress in Fight Against Terrorism

In a significant move towards combating terrorism, San Marino has been commended by the Financial Action Task Force (FATF) for its efforts to prevent terrorist financing. The country’s anti-money laundering and combating the financing of terrorism (AML/CFT) regime was assessed using the 2012 FATF Recommendations and the 2013 Methodology.

Evaluation Process

The evaluation team, which conducted an on-site visit to San Marino, gathered information from the country and reviewed its systems, procedures, and practices. The assessment findings were thoroughly examined and endorsed by the FATF, a global body responsible for setting standards in combating money laundering and terrorist financing.

Key Findings and Priority Actions

The evaluation revealed that San Marino’s efforts to prevent terrorist financing are satisfactory, with some areas requiring improvement. A detailed report outlining the key findings and priority actions has been made public, providing a roadmap for the country to further strengthen its anti-money laundering and counter-terrorist financing regime.

Key Takeaways:

• San Marino’s AML/CFT regime was found to be satisfactory in preventing terrorist financing.
• The evaluation highlighted areas that require improvement for the country to further enhance its AML/CFT regime.
• A detailed report outlining key findings and priority actions has been made public.