FATF positively evaluates Brazil’s money laundering prevention system

Summary:

The Group of Financial Action Task Force (GAFI) held its plenary session on October 27, 2023, where it discussed and adopted the mutual evaluation report on Brazil's anti-money laundering (AML) and combating the financing of terrorism (CFT) measures. The report highlights key improvements made by Brazil in its AML/CFT system, including international cooperation, risk assessment, and policy coordination. However, the report also identifies areas for improvement, such as strengthening cooperation and coordination between certain authorities, improving the supervision of the non-financial sector, and enhancing the recovery of assets related to money laundering and terrorism. The report recommends that Brazil continue to improve its AML/CFT measures to effectively combat the financing of terrorism and other organized crimes.