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Recital 13

Recital 13

(13)The FATF has welcomed the significant progress made by Nicaragua, Pakistan and Zimbabwe in improving their respective AML/CFT regimes. It has noted that Nicaragua, Pakistan and Zimbabwe have established the legal and regulatory frameworks to meet the commitments in their respective action plans regarding the strategic deficiencies that the FATF had identified. Nicaragua, Pakistan and Zimbabwe are therefore no longer subject to the FATF’s monitoring process under its ongoing global AML/CFT compliance process. Nicaragua should continue to work with the ‘ Grupo de Acción Financiera de Latinoamérica’ (GAFILAT), the FATF-style regional body, to improve further its AML/CFT regime, including by ensuring its oversight of non-profit organisations (NPOs) is risk-based and in line with the FATF Standards. Pakistan will continue to work with the Asia Pacific Group, the FATF-style Regional Body, to further improve its AML/CFT system. Zimbabwe should continue to work with ESAAMLG to improve further its AML/CFT system, including by ensuring its oversight of NPOs is risk-based and in line with the FATF Standards.

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