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LAC

LAC. AML TA for Honduras. Incorporated as a component within a Financial Sector TA loan The component will support capacity building and enhancement of AML/CFT regime involving the FIU, banking supervisor, bank association and the judiciary. AML Initiatives in Honduras.

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LAC

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  1. LAC

  2. AML TA for Honduras • Incorporated as a component within a Financial Sector TA loan • The component will support capacity building and enhancement of AML/CFT regime involving the FIU, banking supervisor, bank association and the judiciary

  3. AML Initiatives in Honduras With World Bank involvement, the country had made major advancements in implementing an AML regime before TA implementation: • The FIU had been established since 2003 within the financial supervisor agency (CNBS) • About 30 institutions are now subject to AML law and facilitate reporting to the FIU. • The FIU organized AML training for judiciary (approximately 850 people). • The FIU has signed MOUs for information exchange of information with other FIUs. • Entities subject to CNBS regulation have started developing internal AML guidelines, manuals, and codes of ethics • The FIU is working on a special AML/CFT regulatory framework for the insurance sector.

  4. The TA supports three key pillars FIU Strengthening Training of supervised entities Training of supervisors and judiciary • Computer and software to trace suspicious transactions • Connectivity for automatic data sharing with supervised entities • Dissemination of new regulatory requirements • Coordination with the Bankers’ Association to train bank officers in compliance requirements and AML/CFT techniques • Implementation of preventive measures within the banking industry • Knowledge transfer from judiciary and FIUs with a more established AML/CFT regime

  5. Next steps As the TA is being implemented, the Honduran government will: • Apply for Egmont membership • Establish a training program by the CNBS FIU directed to the judiciary • Seek TA from other FIUs to ensure compliance with Egmont standards • Draft amendments to the AML law to include CFT

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