Orlando, FL, United States - In February 2016, the Financial Action Task Force (FATF), the international standard setter for combating money laundering, the financing of terrorism and proliferation of weapons of mass destruction, released a statement conveying its deep concerns about Brazil’s continued failure to remedy the serious deficiencies identified in its third mutual evaluation report adopted in June 2010, especially those related to terrorism and terrorist financing.
The FATF has repeatedly called for action to address those deficiencies. The FATF reiterated its concern in June 2016, October 2016, February 2017, June 2017, November 2017 and June 2018.
The FATF notes the coming into force of Decree no.9.825 on 8 June 2019, which aims to address remaining shortcomings for identifying and freezing terrorist assets. The FATF will review the Decree for compliance with the FATF standards. However, due to the seriousness of the deficiencies identified and the length of time since the deficiencies were first identified, the FATF continue to view this as a membership issue for FATF to consider in October 2019.