(2008) Mutual Evaluation / Detailed Assessment Report Anti-Money Laundering and Combating the Financing of Terrorism Republic of Haiti
Summary — This report is a detailed assessment of Haiti's anti-money laundering (AML) and combating the financing of terrorism (CFT) regime, conducted by the World Bank. The evaluation, based on the FATF recommendations, identifies weaknesses in Haiti's legal and institutional framework and provides recommendations for improvement.
Key Findings
- Haiti lacks a legal framework to counter the financing of terrorism.
- The implementation of the existing AML regime is insufficient and ineffective.
- No money laundering prosecution has been completed thus far.
- Suspicious transaction reports remain very small.
- Compliance by the financial sector with its AML obligations is not properly supervised.
Full Description
The Mutual Evaluation Report provides a comprehensive analysis of Haiti's AML/CFT measures as of late 2007. It examines the legal system, institutional framework, and preventive measures in place to combat money laundering and terrorist financing. The report assesses Haiti's compliance with the FATF 40+9 Recommendations, highlighting key findings and offering recommendations for strengthening the system. It covers topics such as criminalization of money laundering and terrorist financing, confiscation of proceeds of crime, the role of the Financial Intelligence Unit (UCREF), and preventive measures for financial institutions and designated non-financial businesses and professions.