The Financial Action Task Force of Latin America (GAFILAT) held its fifth unannounced simulation exercise in Montevideo to test Uruguay’s capacity to implement targeted financial sanctions arising from potential matches with United Nations Security Council sanctions lists related to terrorism financing and the proliferation of weapons of mass destruction, against Financial Action Task Force (FATF) Recommendations 6 and 7. The drill explored scenarios under United Nations Security Council Resolution 1373 (2001) on national listings, covering designation criteria, competent authorities’ powers, and procedures to communicate listings and delistings and manage access to funds. It involved Uruguay’s counter-terrorist financing and counter-proliferation financing (CFT/CFP) system led by the National Secretariat for Combating Money Laundering and Terrorist Financing (SENACLAFT) and the Financial Intelligence and Analysis Unit (UIAF), alongside the Ministry of Foreign Affairs, the Office of the Attorney General, the judiciary and obliged entities across financial and non-financial sectors, with private-sector participation including banks, securities intermediaries, money transmitters, fintechs, notaries, corporate service providers, free trade zones, real estate firms, casinos and auctioneers. GAFILAT reported that the exercise identified both good practices and areas for improvement in participants’ processes, with multisector feedback intended to strengthen preparedness for real-world cases.

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