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

Publication details

Language

English

Country
Bhutan FUR October 2020

APG Follow-Up Report Bhutan-2021

Filename
APG-Follow-Up-Report-Bhutan-2021.pdf
Size
351 KB
Format
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.

Technical Compliance

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

Bhutan Follow-Up Report 2023

R.1 - Assessing risk & applying risk-based approach
LC
R.2 - National cooperation and coordination
LC
R.3 - Money laundering offence
LC
R.4 - Confiscation and provisional measures
LC
R.5 - Terrorist financing offence
LC
R.6 - Targeted financial sanctions related to terrorism & terrorist financing
LC
R.7 - Targeted financial sanctions related to proliferation
LC
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
NC
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
LC
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
LC
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
LC
R.31 - Powers of law enforcement and investigative authorities
PC
R.32 - Cash couriers
LC
R.33 - Statistics
LC
R.34 - Guidance and feedback
LC
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