The Financial Action Task Force of Latin America (GAFILAT) held a workshop in Guatemala City on supervision focused on applying simplified due diligence measures for financial and non-financial institutions, framed by the risk-based approach and recent changes to Recommendation 1. The event, organised under GAFILAT’s annual Action Plan with support from Spanish technical cooperation, brought together more than 100 delegates in person and virtually, including representatives from anti-money laundering and counter-terrorist financing (AML/CFT) supervisory authorities and the private sector from member countries. Discussions centred on how to apply simplified due diligence proportionately to identified risks, with the stated aim of improving resource allocation and supporting financial inclusion without undermining the integrity of the financial system. GAFILAT also indicated it will continue supporting member countries in implementing international AML/CFT standards.
Financial Action Task Force of Latin America (GAFILAT) 2025-06-20
Financial Action Task Force of Latin America hosts workshop on supervisory use of simplified due diligence under revised Recommendation 1
GAFILAT held a workshop in Guatemala City on simplified due diligence for financial and non-financial institutions, aligned with a risk-based approach and changes to Recommendation 1. Part of GAFILAT’s annual Action Plan, it gathered over 100 delegates to discuss proportional due diligence to enhance resource allocation and financial inclusion. GAFILAT reaffirmed its commitment to supporting member countries in implementing international anti-money laundering and counter-terrorist financing standards.