Financial Action Task Force of Latin America runs seventh unannounced El Salvador drill on targeted financial sanctions for terrorist and proliferation financing

From 20 to 30 April 2026, the Financial Action Task Force of Latin America, in coordination with El Salvador's Office of the Attorney General, conducted its seventh unannounced simulation of targeted financial sanctions implementation based on potential matches with United Nations Security Council sanctions lists linked to terrorist financing and proliferation financing. The exercise tested the national powers, mechanisms and procedures used to meet Recommendations 6 and 7 of the Financial Action Task Force, including the ability to implement sanctions without delay under the United Nations Security Council Resolution 1267 regime and subsequent resolutions. The drill assessed the national system end to end, including coordination among competent authorities, communications to obliged entities, asset freezing and unfreezing procedures, and the practical application of the relevant international standards. Participants included public authorities, financial institutions and virtual asset service providers. GAFILAT said the exercise identified good practices in El Salvador as well as areas to strengthen, notably the timeliness of responses, the consistency of procedures and the handling of specific scenarios covered by the standard.