The Financial Action Task Force (FATF and in Spanish GAFI) is a very reputable institution and has been monitoring our fairly new “economy,” El Deber reports:
Bolivia and Cuba remain without complying with the norms against money-laundering
Bolivia and Cuba are on the list of countries that do not meet international standards against money laundering and the financing of terrorism, according to representatives of the FATF, confirmed today.
The two countries are part of the group in which the FATF believes that there are “strategic deficiencies” in the fight against these two phenomena [money laundering and terrorism], Bolivia and Cuba have not made sufficient progress or they have not committed themselves to improve their situation.
Although the complete list will be published throughout the day today [if you visit FATF’s website, use the link above and will be able to reach the report], the two Latin American countries were cited by the President of the FATF, Giancarlo del Bufalo, who presented the new recommendations of the Agency in Paris.
Iran and North Korea stay as countries that violate these rules and against which the FATF recommends action by members of the Agency.
So… that is what we have in common with those countries. Need say more?