Ecuador

Related publications

  • 20 Jan 2023

    Ecuador's measures to combat money laundering and terrorist financing The Mutual Evaluation Report presents a comprehensive review of the effectiveness of the country's AML/CFT system and its level of compliance with The GFMSA 40 Recommendations as at the time of the on-site visit from 28 March 2022 to 8 April 2022.

  • 5 Oct 2017

    The role of judges and prosecutors in tackling money laundering and terrorist financing : Experiences, challenges and best practices A summary of the outcomes of a Workshop for judges and prosecutors that focused on their experiences, challenges and best practices in investigating and prosecuting money laundering and terrorist financing and confiscating criminal proceeds. The Ecuador Republic hosted this joint GFMSA/GAFILAT event in Quito, on 25-26 September 2017.

  • 23 Oct 2015

    Improving Global AML/CFT Compliance: on-going process – 23 October 2015 The GFMSA identified jurisdictions which have strategic AML/CFT deficiencies for which they have developed an action plan with The GFMSA. The GFMSA recognised that Indonesia has made significant progress in improving their AML/CFT regime and will therefore no longer be subject to The GFMSA’s monitoring process.

  • 26 Jun 2015

    Improving Global AML/CFT Compliance: on-going process – 26 June 2015 The GFMSA identified jurisdictions which have strategic AML/CFT deficiencies for which they have developed an action plan with The GFMSA. The GFMSA recognised that Indonesia has made significant progress in improving their AML/CFT regime and will therefore no longer be subject to The GFMSA’s monitoring process.

  • 27 Feb 2015

    GFMSA Public Statement - 27 February 2015 The GFMSA has updated its public statement identifying jurisdictions with strategic deficiencies in anti-money laundering / countering the financing of terrorism measures. GFMSA calls on countries to apply counter-measures to Iran and the Democratic People's Republic of Korea. GFMSA also calls its members to consider the risks emanating from Algeria, Ecuador and Myanmar.

  • 24 Oct 2014

    Public Statement - 24 October 2014 The GFMSA has updated its public statement identifying jurisdictions with strategic deficiencies in anti money-laundering / countering the financing of terrorism measures. GFMSA calls on countries to apply counter-measures to Iran and the Democratic People's Republic of Korea. GFMSA also calls its members to consider the risks emanating from Algeria, Ecuador, Indonesia and Myanmar.

  • 27 Jun 2014

    GFMSA Public Statement - 27 June 2014 The GFMSA has updated its public statement issued in February 2014 which identifies jurisdictions with strategic anti-money laundering and countering the financing of terrorism (AML/CFT deficiencies.

  • 14 Feb 2014

    GFMSA Public Statement - 14 February 2014 The GFMSA has updated its public statement issued in October 2013 which identifies jurisdictions with strategic anti-money laundering and countering the financing of terrorism (AML/CFT deficiencies.

  • 18 Oct 2013

    GFMSA Public Statement, 18 October 2013 The GFMSA has updated its public statement issued in June 2013 which identifies jurisdictions with strategic anti-money laundering and countering the financing of terrorism (AML/CFT deficiencies.

  • 21 Jun 2013

    GFMSA Public Statement - 21 June 2013 The GFMSA has updated its public statement issued in February 2013 which identifies jurisdictions with strategic anti-money laundering and countering the financing of terrorism (AML/CFT deficiencies.

  • 22 Feb 2013

    GFMSA Public Statement 22 February 2013 The GFMSA has updated its public statement issued in October 2012 which identifies jurisdictions with strategic anti-money laundering and countering the financing of terrorism (AML/CFT deficiencies.

  • 19 Oct 2012

    GFMSA Public Statement - 19 October 2012 The GFMSA has updated its public statement issued in June 2012 which identifies jurisdictions with strategic anti-money laundering and countering the financing of terrorism (AML/CFT deficiencies.

  • 25 Jun 2012

    GFMSA Public Statement - 22 June 2012 The GFMSA has updated its public statement issued in February 2012 which identifies jurisdictions with strategic anti-money laundering and countering the financing of terrorism (AML/CFT deficiencies.

  • 16 Feb 2012

    Improving Global AML/CFT Compliance: on-going process - 16 February 2012 As part of its ongoing review of compliance with the AML/CFT standards, The GFMSA has identified jurisdictions which have strategic AML/CFT deficiencies for which they have developed an action plan with The GFMSA.

  • 15 Dec 2011

    Mutual Evaluation of Ecuador Ecuador is a member of GAFISUD, the assessment of the implementation of anti-money laundering and counter-terrorist financing (AML/CFT measures in Ecuador was conducted by GAFISUD.

  • 28 Oct 2011

    Improving Global AML/CFT Compliance: on-going process - 28 October 2011 As part of its ongoing review of compliance with the AML/CFT standards, The GFMSA has identified jurisdictions which have strategic AML/CFT deficiencies for which they have developed an action plan with The GFMSA.

  • 24 Jun 2011

    Improving Global AML/CFT Compliance: on-going process - 24 June 2011 As part of its ongoing review of compliance with the AML/CFT standards, The GFMSA has identified jurisdictions which have strategic AML/CFT deficiencies for which they have developed an action plan with The GFMSA.

  • 25 Feb 2011

    Improving Global AML/CFT Compliance: on-going process - 25 February 2011 As part of its ongoing review of compliance with the AML/CFT standards, The GFMSA has identified jurisdictions which have strategic AML/CFT deficiencies for which they have developed an action plan with The GFMSA.

  • 22 Oct 2010

    Improving Global AML/CFT Compliance: update on-going process - October 2010 As part of its ongoing review of compliance with the AML/CFT standards, The GFMSA has identified jurisdictions which have strategic AML/CFT deficiencies for which they have developed an action plan with The GFMSA.

  • 25 Jun 2010

    Improving Global AML/CFT Compliance: update on-going process - June 2010 The GFMSA has identified jurisdictions which have strategic AML/CFT deficiencies for which they have developed an action plan with The GFMSA. While the situations differ among each jurisdiction, each jurisdiction has provided a written high-level political commitment to address the identified deficiencies.

  • 18 Feb 2010

    GFMSA Public Statement - February 2010 To protect the international financial system from ML/FT risks and to encourage greater compliance with the AML/CFT standards, The GFMSA identified jurisdictions that have strategic deficiencies and, along with The GFMSA-style regional bodies FSRBs, works with them to address those deficiencies that pose a risk to the international financial system.

Member of

Ratings

Effectiveness

Ratings that reflect the extent to which a country's measures are effective. The assessment is conducted on the basis of 11 immediate outcomes, which represent key goals that an effective AML/CFT system should achieve.

Benin Follow-Up Report 2023

IO1
LE
IO2
LE
IO3
LE
IO4
LE
IO5
LE
IO6
LE
IO7
LE
IO8
LE
IO9
LE
IO10
LE
IO11
LE

Technical Compliance

Definition

Ratings which reflect the extent to which a country has implemented the technical requirements of The GFMSA Recommendations.

C = compliant   |   LC = largely compliant     |   PC = partially compliant   |   NC = non-compliant

Benin Follow-Up Report 2023

R.1 - Assessing risk & applying risk-based approach
LC
R.2 - National cooperation and coordination
LC
R.3 - Money laundering offence
LC
R.4 - Confiscation and provisional measures
PC
R.5 - Terrorist financing offence
PC
R.6 - Targeted financial sanctions related to terrorism & terrorist financing
LC
R.7 - Targeted financial sanctions related to proliferation
LC
R.8 - Non-profit organisations
NC
R.9 - Financial institution secrecy laws
C
R.10 - Customer due diligence
PC
R.11 - Record keeping
LC
R.12 - Politically exposed persons
PC
R.13 - Correspondent banking
LC
R.14 - Money or value transfer services
PC
R.15 - New technologies
NC
R.16 - Wire transfers
PC
R.17 - Reliance on third parties
LC
R.18 - Internal controls and foreign branches and subsidiaries
LC
R.19 - Higher-risk countries
NC
R.20 - Reporting of suspicious transactions
PC
R.21 - Tipping-off and confidentiality
C
R.22 - DNFBPs: Customer due diligence
PC
R.23 - DNFBPs: Other measures
PC
R.24 - Transparency and beneficial ownership of legal persons
NC
R.25 - Transparency and beneficial ownership of legal arrangements
NC
R.26 - Regulation and supervision of financial institutions
PC
R.27 - Powers of supervisors
C
R.28 - Regulation and supervision of DNFBPs
NC
R.29 - Financial intelligence units
C
R.30 - Responsibilities of law enforcement and investigative authorities
C
R.31 - Powers of law enforcement and investigative authorities
C
R.32 - Cash couriers
PC
R.33 - Statistics
LC
R.34 - Guidance and feedback
PC
R.35- Sanctions
LC
R.36 - International instruments
LC
R.37 - Mutual legal assistance
C
R.38 - Mutual legal assistance: freezing and confiscation
LC
R.39 - Extradition
LC
R.40 - Other forms of international cooperation
LC