The Caribbean Financial Action Task Force has published Venezuela's third enhanced follow-up report, concluding that the country has made enough progress on technical compliance to improve two FATF ratings while remaining under enhanced monitoring. Venezuela was re-rated from Partially Compliant to Largely Compliant on national cooperation and coordination, and from Non-Compliant to Partially Compliant on targeted financial sanctions related to terrorism and terrorist financing. The report states that Venezuela is now Compliant or Largely Compliant with 10 of the 40 FATF Recommendations. It assesses technical compliance only and does not examine any change in effectiveness. The upgrade on coordination was driven mainly by the October 2024 adoption of the National Plan of Action and Prevention against ML/TF/PF 2024-2026, which the report says created a more structured national AML/CFT/CPF framework, with seven strategic lines, 71 programmatic actions, assigned responsibilities, deadlines running from January 2025 to December 2026 and biannual review. The plan also established a Permanent Committee for Action and Prevention to strengthen coordination across public and private sector bodies. On terrorist financing sanctions, the report found progress in the legal framework, including the designation role of the National Office against Organized Crime and Terrorism Financing and mechanisms for information-sharing and freezing measures. However, significant gaps remain, including delays that are inconsistent with the FATF standard of acting without delay, incomplete coverage of all financial institutions and designated non-financial businesses and professions, limited prohibitions on making funds or assets available to designated persons or entities, and incomplete procedures for foreign designation requests and asset-freezing scope.

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