Open on EUR-Lex ↗

Recital 6

Recital 6

(6)Bolivia made a high-level political commitment in June 2025 to work with the FATF and the Grupo de Acción Financiera de Latinoamérica (GAFILAT), which is its FATF-style regional body (FSRB), to strengthen the effectiveness of its AML/CFT regime. Since the adoption of its mutual evaluation report (MER) in December 2023, Bolivia has made significant progress on certain actions recommended in the MER, including enhancing its money laundering (ML) and terrorism financing (TF) risk understanding; enhancing the production and dissemination of operational and strategic financial intelligence; strengthening the seizure and forfeiture of criminal proceeds; increasing capacity to investigate TF offences; and improving its process to implement targeted financial sanctions on TF and proliferation financing (PF). Bolivia will continue to work with the FATF to implement its FATF action plan by ensuring that relevant special investigative techniques can be used in ML investigations; implementing risk-based supervision of real estate agents, lawyers, accountants and dealers in precious metals and stones (DPMS); ensuring that beneficial ownership information is accurate and up-to-date and breaches to the related obligations are sanctioned; and increasing ML investigations and prosecutions. While recognising and welcoming the commitment and progress made by Bolivia so far, and encouraging further efforts, the Commission considers that Bolivia has not yet fully addressed the strategic deficiencies that led to its addition to the FATF’s list of ‘Jurisdictions under Increased Monitoring’. Bolivia should therefore be considered a high-risk third country.

Official text · the act as publishedFrom the act as published (consolidated texts do not carry recitals or the preamble). Open full page ↗
4 queries · page built in 4 msInventory f82bbfa3