The Financial Action Task Force of Latin America (GAFILAT) published the main conclusions of its 51st Plenary of Representatives in San Salvador, including approval of two regional products for publication and adoption of the Plurinational State of Bolivia’s second follow-up report with technical compliance re-ratings. The Plenary approved a regional good practices guide on asset recovery and the effective management, disposal and allocation of seized assets, intended to help members implement concrete measures and strengthen cooperation. It also approved a regional sectoral risk assessment on the use of virtual assets (VA) and virtual asset service providers (VASPs) for money laundering, terrorist financing and related crimes, positioned as an input for members’ preparation for the fifth round of mutual evaluations. Delegations were briefed on approved changes to Financial Action Task Force standards and the assessment methodology, including amendments to Recommendation 1, the Glossary, and the Interpretive Notes to Recommendations 1, 10 and 15, and amendments to Recommendation 16 on payments, card use, withdrawals and other transactions, alongside adjustments to fourth round follow-up procedures relevant to re-ratings of modified Recommendations ahead of the fifth round. GAFILAT also presented an EU-funded manual to strengthen national statistics used to demonstrate effectiveness in the fifth round, with proposed additions to be integrated into the final version and a training component planned. An update was provided on the voluntary “GAFILAT Statistics Observatory” project to support exchange and analysis of statistics linked to Recommendation 33, and the Plenary approved the reported activities of its technical working groups.

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