Follow-up report to Bhutan's assessment of anti-money laundering and counter-terrorist financing measures

Publication details

Language

English

Country

Bhutan

Bhutan FUR October 2020

APG Follow-Up Report Bhutan-2021

Filename
APG-Follow-Up-Report-Bhutan-2021.pdf
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351 KB
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application/pdf
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This Follow-Up report analyses Bhutan’s progress in addressing the technical compliance deficiencies identified in its MER.

Overall, Bhutan has made good progress in addressing the technical compliance deficiencies identified in its MER and has been re-rated on six Recommendations.

  • Recommendations 3, 6, 20, 26, 30 and 33 have been re-rated to Largely Compliant.

Bhutan will remain in enhanced follow-up, and will continue to report back to the APG on progress to strengthen its implementation of AML/CFT measures.

APG Follow-Up Report of Bhutan -  2018

APG Mutual Evaluation of Bhutan - 2016

 

 

Technical Compliance

Ratings which reflect the extent to which a country has implemented the technical requirements of the FATF Recommendations.

Bhutan Follow-Up Report 2018

R.1 - Assessing risk & applying risk-based approach
LC
R.2 - National cooperation and coordination
LC
R.3 - Money laundering offence
PC
R.4 - Confiscation and provisional measures
PC
R.5 - Terrorist financing offence
LC
R.6 - Targeted financial sanctions related to terrorism & terrorist financing
PC
R.7 - Targeted financial sanctions related to proliferation
PC
R.8 - Non-profit organisations
PC
R.9 - Financial institution secrecy laws
C
R.10 - Customer due diligence
C
R.11 - Record keeping
C
R.12 - Politically exposed persons
C
R.13 - Correspondent banking
C
R.14 - Money or value transfer services
LC
R.15 - New technologies
C
R.16 - Wire transfers
LC
R.17 - Reliance on third parties
LC
R.18 - Internal controls and foreign branches and subsidiaries
LC
R.19 - Higher-risk countries
LC
R.20 - Reporting of suspicious transactions
PC
R.21 - Tipping-off and confidentiality
LC
R.22 - DNFBPs: Customer due diligence
C
R.23 - DNFBPs: Other measures
LC
R.24 - Transparency and beneficial ownership of legal persons
PC
R.25 - Transparency and beneficial ownership of legal arrangements
LC
R.26 - Regulation and supervision of financial institutions
PC
R.27 - Powers of supervisors
C
R.28 - Regulation and supervision of DNFBPs
PC
R.29 - Financial intelligence units
LC
R.30 - Responsibilities of law enforcement and investigative authorities
PC
R.31 - Powers of law enforcement and investigative authorities
PC
R.32 - Cash couriers
LC
R.33 - Statistics
PC
R.34 - Guidance and feedback
PC
R.35- Sanctions
LC
R.36 - International instruments
PC
R.37 - Mutual legal assistance
NC
R.38 - Mutual legal assistance: freezing and confiscation
LC
R.39 - Extradition
LC
R.40 - Other forms of international cooperation
PC

C = compliant   |   LC = largely compliant     |   PC = partially compliant   |   NC = non-compliant

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