El Salvador

El Salvador in its 9th Follow-Up Report adequately addressed the shortcomings identified in the MER for Core Recommendation 5 and Special Recommendation IV and Key Recommendations 23 and 26 and Special Recommendation V, achieving the level of compliance comparable with at least LC.

El Salvador 9th Follow-Up Report

CFATF Holds it’s XL Plenary in San Salvador, El Salvador where El Salvador and Trinidad and Tobago assumed the Chair and Deputy Chair, respectively

the Honorable Luis Martínez Gónzalez, Attorney General, the Republic of El Salvador, assumed the Chair of the OrganizationOn November 26th and 27th, 2014, the Caribbean Financial Action Task Force (CFATF) held its XL Plenary Meeting in San Salvador, El Salvador where the Honorable Luis Martínez Gónzalez, Attorney General, the Republic of El Salvador, assumed the Chair of the Organization, together with Deputy Chair, the Honorable Anand Ramlogan, S.C., Attorney General, the Republic of Trinidad and Tobago, both of whom will preside over the CFATF for the period November 2014‐ November 2015.

Delegates attending the Plenary Meeting discussed topics such as the end of the third round mutual evaluation process and the commencement of the fourth round, financial inclusion and beneficial ownership issues, among others.

Progress was also made with regard to the illegal lotteries scheme typologies project and it was announced that the CFATF will undertake two more typologies projects: a) Proliferation of Small Arms and Ammunition, and b) Movement of Cash and Negotiable Instruments.

The CFATF also adopted its Voluntary Tax Compliance Procedures to avoid this type of programs being used for Money Laundering and Terrorist Financing (ML/TF) purposes.
Of note, is that six (6) countries exited the follow‐up process: Dominica, El Salvador, Guatemala, Grenada, Jamaica, and St. Kitts and Nevis.

El Salvador: End of the CFATF Third Round Follow-Up Process & CFATF International Cooperation Review Group (CFATF ICRG) Monitoring

The CFATF held its XL Plenary in San Salvador, El Salvador during the week of November 23-28, 2014, during which time four (4) Member countries exited the Third Round Follow-Up Process, completing all their reporting requirements, while one (1) Member country exited the CFATF ICRG monitoring process.

JURISDICTIONS EXITING THE FOLLOW-UP PROCESS

The November 2014 Plenary recognised that El Salvador had made significant progress in addressing the deficiencies identified in their 2010 Mutual Evaluation Report and therefore could exit the follow-up process.

El Salvador adequately addressed the shortcomings identified in the MER for Core Recommendation 5 and Special Recommendation IV and Key Recommendations 23 and 26 and Special Recommendation V, achieving the level of compliance comparable with at least LC. El Salvador also presented advancements in other Recommendations rated in the MER as PC or NC, mainly in the aspects pertaining to Politically Exposed Persons (PEP’s), new technologies, Designated Non-Financial Businesses and Professions (DNFBP’s), the issuing of guidelines and feedback, domestic cooperation and statistics among others.

A detailed analysis of compliance with these Recommendations and progress made with other Recommendations, can be found in the country’s 9th Follow-Up Report.

Prosecutors get training on the Cash Flows with Foreign countries, Cross-border Cash and The Prevention of Money Laundering.

The Prosecutor General of the Republic and CFATF Deputy Chair, Lic. Luis Antonio MartínezThe Prosecutor General of the Republic and CFATF Deputy Chair, Lic. Luis Antonio Martínez, closed the workshop seminar "Exploiting the use of Cash Flows with Foreign countries and Cross-border Cash and the Prevention of Money Laundering and the Financing of Terrorism". Professionals from the Ministry of Finance, National Civil Police (PNC its acronym in Spanish), Office of the Attorney General of the Republic, Judges and from the Central Reserve Bank all participated in the workshop.
Participants at the workshop were trained by Andrés Martínez Calvo and Mariano García Fresno, both recognized international consultants of the Ministry of Economy of Spain on the issue of laundering of money and assets.

"To deal with money laundering, we must apply collective efforts, both domestically and internationally, if we hope to win the war against this scourge," said Prosecutor Martínez.

Participants received Certificates of participation from the Attorney General and the international consultants in the workshop which lasted five days, on the premises of the Escuela de Capacitación Fiscal (Prosecutor Training School).

"Through seminars and workshops like this, we seek to share our skills and best practices and share experiences with professionals like you; on how to stop financial crime" concluded Martínez.

El Salvador’s National Risk Assessment

The Honorable Attorney General Luis Antonio Martínez GonzálezThe Prosecutor General of the Republic of El Salvador, through the Financial Investigations Unit with the support of the World Bank and the Caribbean Financial Action Task Force (CFATF), conducted a National Risk Assessment Workshop from 9 to 11 June 2014 in San Salvador, El Salvador.

The Honorable Attorney General Luis Antonio Martínez González, CFATF Vice Chair opened the Workshop together with Marilyne Pereira Gonçalves and Jania Ibarra of the World Bank, emphasizing the high commitment of El Salvador to combat this scourge and comply with existing laws and regulations for that purpose, as well as to carry out monitoring of internal controls of the financial institutions.

This Workshop is the first stage of the National Risk Assessment process and was designed to assist El Salvador in the self-assessment of the risks of money laundering and financing of terrorism with the participation of a multidisciplinary team, comprised of subject matter experts from different government entities and private entities, which will carry out El Salvador’s National Risk Assessment.Ms. Jania Ibarra and Ms. Marilyne Pereira from World Bankl and The Honorable Attorney General Luis Antonio Martínez González CFATF Vice Chair

This team comprised of representatives from the Office of the Attorney-General, the Specialized Financial Investigations Unit, Specialized Anti Human Trafficking Crime Unit, Specialized Anti Extortion Crime Unit, Specialized Anti-Corruption Crime Unit, the Supreme Court, Monitoring Council of the Public Accounting Profession and Auditing, Stock Exchange, Salvadoran Banking Association, Central Reserve Bank, Attorney General of the Republic, Ministry of Economy, Financial System Superintendence, Ministry of Finance, Salvadoran Association of Stock Brokers, Salvadoran Association of Insurance Companies, National Civil Police, Financial System Banks and Money Transfer Companies.

During three days of intense activities, participants shared views and exchanged ideas, which resulted in important starting points on the risks and vulnerabilities that affect El Salvador in the field of money laundering and financing of terrorism. Likewise, they also defined action plans for the collection of the information in the different entities, project tracking and completion of the National Risk Assessment.

The CFATF recognizes the progress made by El Salvador and congratulates the authorities on carrying out this Workshop and encourages them keep up the constant efforts to combat money laundering and financing of terrorism.

Preparations for the Fourth Round of Mutual Evaluations: Assessors Training in El Salvador

Preparations for the Fourth Round of Mutual Evaluations: Assessors Training in El SalvadorDuring the week of February 24th to 28th 2014, CFATF/FATF Assessors Training was held in the Republic of El Salvador, for Members of the CFATF and GAFISUD.

The Honorable Luis Antonio Martinez Gonzalez, Attorney General of the Republic of El Salvador and Deputy Chair of the CFATF, welcomed delegates from the Dominican Republic, Guatemala, Nicaragua, Honduras and Venezuela during an inaugural lecture. He reassured the high commitment and support of their jurisdiction towards raising compliance with FATF Standards, the application of FATF Methodology and the response to challenges posed by the Fourth Round of Mutual Evaluations.

Participants were warmly received in the premises of the prosecutor’s training facilities (Escuela de Fiscales), within the Attorney General's Office, where they had the opportunity to exchange experiences and go through an intense week of learning. Presentations were conducted by facilitators from FATF, International Monetary Fund and the CFATF. The training also included a Mutual Evaluation exercise.

The CFATF is certain that the group of trained assessors is prepared to positively face the challenges of the Fourth Round of Mutual Evaluations. We thank the Honorable Attorney General and our friends from El Salvador, once again, for their hospitality and warm welcome. We also wish to thank all delegates for their excellent participation.
See you soon friends!

Related articles: click here (only available on their original language)
http://www.fiscalia.gob.sv/vicepresidente-del-gafic-inaugura-seminario-para-evaluadores/
http://www.fiscalia.gob.sv/fiscal-general-clausura-seminario-para-miembros-del-gafic/

Page 1 of 2

Prime Contact of El Salvador

Office of the Attorney General of El Salvador
EDIFICIO FARMAVIDA, Calle Cortéz Blanco, pasaje M,
Urbanización Madre Selva 3° Etapa
Antiguo Cuscatlán, La Libertad, El Salvador
Tel. (503) 2593-7172