The Central Bank of the Dominican Republic reported that its governor, Héctor Valdez Albizu, and the minister of Finance and Economy, Magín Díaz, received Esteban Fullin, executive secretary of the Financial Action Task Force of Latin America (GAFILAT), together with officials from the Dominican Republic’s Financial Analysis Unit (UAF), as part of preparations for GAFILAT’s upcoming fifth round of mutual evaluations. The authorities presented recent progress on the country’s anti-money laundering and counter-terrorist financing (AML/CFT) framework and reaffirmed cooperation with the assessment process. Work to strengthen the supervisory and regulatory framework has involved the central bank, the Ministry of Finance and Economy, the Superintendency of Banks and other financial-sector superintendencies, under Law No. 155-17 on AML/CFT and the Monetary and Financial Law No. 183-02. GAFILAT indicated that the fifth-round review will focus on effectiveness and demonstrable outcomes, including how the jurisdiction applies the 40 Financial Action Task Force (FATF) recommendations in line with its risk profile, and will observe controls covering virtual asset service providers and designated non-financial businesses and professions. Around 18 subject-matter experts are expected to participate in evaluating compliance with the requirements set out in Law No. 155-17, and the release notes an expectation that the financial sector will begin internal assessments to align with the FATF recommendations and avoid non-compliance in the upcoming round.
Central Bank of the Dominican Republic 2025-09-17
Central Bank of the Dominican Republic hosts GAFILAT visit to prepare for fifth-round AML/CFT mutual evaluation
The Central Bank of the Dominican Republic and the Ministry of Finance and Economy are preparing for GAFILAT's fifth mutual evaluations by showcasing progress in anti-money laundering and counter-terrorist financing. The review will assess the jurisdiction's application of the 40 Financial Action Task Force recommendations, focusing on virtual asset service providers and designated non-financial businesses. About 18 experts will evaluate compliance with Law No. 155-17, with the financial sector expected to conduct internal assessments to align with these standards.