|
|
Sanctions:
None applicable
____________________________________________________
Offshore Jurisdiction Blacklists:
Yes, but no further information currently available.
____________________________________________________
US State Department Money Laundering Report - 2011:
Chile has a large and well-developed banking and financial sector
with an established anti-money laundering/counter-terrorism
financing (AML/CFT) regime. Systematic vulnerabilities in Chile’s
regime include stringent bank secrecy laws and relatively new
regulatory institutions in which oversight gaps remain. The
Government of Chile (GOC) is actively seeking to turn Chile into a
global financial center, but not an offshore financial center. Chile
has free trade agreements with more than 50 countries. Increased
trade and currency flows, combined with an expanding economy,
could attract illicit financial activity and money laundering.
Chile’s largely unregulated free trade zones present an additional
vulnerability, given the country’s extensive trading partnerships
and long, difficult to monitor borders. Illicit proceeds from limited
drug trafficking and domestic consumption are laundered in the
country.
DO FINANCIAL INSTITUTIONS ENGAGE IN CURRENCY
TRANSACTIONS RELATED TO INTERNATIONAL NARCOTICS
TRAFFICKING THAT INCLUDE SIGNIFICANT AMOUNTS OF US
CURRENCY; CURRENCY DERIVED FROM ILLEGAL SALES IN
THE U.S.; OR THAT OTHERWISE SIGNIFICANTLY AFFECT THE
U.S.: NO
CRIMINALIZATION OF MONEY LAUNDERING:
“All serious crimes” approach or “list” approach to predicate
crimes: List
Legal persons covered: criminally: YES civilly: YES
CRIMINALIZATION OF TERRORIST FINANCING:
Ability to freeze terrorist assets without delay: YES
UN lists of designated terrorists or terrorist entities distributed to
financial institutions: YES
KNOW-YOUR-CUSTOMER RULES:
Covered entities: Banks (checking but not savings accounts) and
other financial institutions, credit unions, pension funds, mutual
fund administrators, brokers and dealers, leasing and factoring
companies, credit card issuers and operators, insurance
companies, insurance brokers
Enhanced due diligence procedures for PEPs: Foreign: NO
Domestic: NO
SUSPICIOUS TRANSACTION REPORTING REQUIREMENTS:
Covered entities: Banks; savings and loan associations; financial
leasing companies; general, mutual funds and investment funds
managers; pension fund administration companies; the Foreign
Investment Committee; money exchange firms and other entities
authorized to receive foreign currencies; factoring firms; credit
card issuers and operators; money transfer and transportation
companies; stock exchanges; stock exchange brokers; securities
companies and agents; insurance companies; forwards and
options markets operators; tax-free zones’ legal representatives;
casinos; gambling houses and horse tracks; customs general
agents; auction houses; realtors and land developers; notaries
and registrars; and sports clubs
Number of STRs received and time frame: 617 (January through
September 2010)
Number of CTRs received and time frame: 1,027 (January
through June 2010)
MONEY LAUNDERING CRIMINAL
PROSECUTIONS/CONVICTIONS:
Prosecutions: 34 (January through September 2010)
Convictions: Seven (January through September 2010)
Assets forfeited: criminally: $184,773.87 (January through
September 2010) civilly: Not available
RECORDS EXCHANGE MECHANISM:
With U.S.: YES
With other governments/jurisdictions: YES
Chile is a member of the Financial Action Task Force of South
America (GAFISUD), a Financial Action Task Force (FATF)-style
regional body. Its most recent mutual evaluation can be found
here: http://www.gafisud.info/microsite/index.htm
ENFORCEMENT AND IMPLEMENTATION ISSUES AND
COMMENTS:
Chile’s “list” approach only includes some of the recommended
predicate offenses for money laundering. Chile has yet to widen
the scope of the money laundering offense to apply it to crimes
such as trafficking in persons, intellectual property rights
violations, and extortion.
It is not common for all sectors of the financial system to be
obliged to retain customer information for five years after the
account was closed or the commercial relationship ended.
Separately, there is no clear definition of politically exposed
person (PEP). Existing laws do not clearly establish that STRs
need to be submitted for the financing of terrorism or for the
attempt to conduct a suspicious transaction even though the
actual transaction is not realized/finalized. In addition the current
legislation does not expressly specify that the UAF (Chilean
financial intelligence unit) has competency to receive STRs
related to the financing of terrorism.
The most significant obstacle to money laundering investigations
is bank secrecy. The General Banking Law places all types of
bank deposits and obligations under banking secrecy, and only
allows banking institutions to share information about such
transactions with the depositor or creditor (or an authorized legal
representative). Law 707 states banks may not share information
about the movement and balances in a current account with a
third party. Due to these legal restrictions, banks do not share
information with prosecutors without a judicial order. Some banks
and their compliance officers aggressively apply rigorous,
international AML/CFT standards, but they are restricted to simply
reporting suspicious activity and then waiting for the appropriate
court authorization to release any private information. Other
banks are slow to reply to court orders to provide prosecutors with
additional information. Judges can detain the bank’s general
manager until all information is disclosed, but this tool is rarely
used. In December, 2009, a legislative reform allowed tax
authorities access to bank information without a judicial order
under certain circumstances.
Chile’s anti-money laundering efforts continue to mature. At the
same time, the GOC can still do more to investigate complex
money laundering schemes, such as trade-based money
laundering. Law No. 20,393, which entered into force in
December 2009, makes it a crime for corporations to engage in
money laundering, as well as bribe public officials and finance
terrorism.
The GOC can improve its AML/CFT regime by: expanding the list
of predicate crimes for money laundering to include all serious
crimes; establishing regulatory control over non-bank institutions
such as money exchange houses and charities; expanding
customer due diligence requirements to cover all recommended
entities and mandating enhanced due diligence procedures for
politically exposed persons; and passing the draft law currently
pending in the Senate to allow for the lifting of bank secrecy and
the freezing of assets to bring Chile closer to compliance with its
UNSCR 1267 obligations and international standards.
____________________________________________________
US State Dept Narcotics Report 2012 (introduction):
Chile is not a major producer of organic or synthetic drugs. It is,
however, a significant transit country for Andean cocaine
shipments destined for elsewhere, particularly Europe. Chile is a
source country for precursor chemicals used for cocaine
production in Peru and Bolivia, as well as a source for Mexico-
bound ephedrine, a critical ingredient used in the production of
methamphetamine. According to the 2011 UN World Drug Report,
Chile is the second largest consumer of marijuana and cocaine
per capita in South America.
Due to its long and difficult-to-monitor borders with Peru, Bolivia,
and Argentina, Chile faces a special challenge in combating drug
trafficking. Furthermore, inspection restrictions established by the
treaty ending the War of the Pacific require Chilean authorities to
seek permission from the Government of Bolivia to inspect cargo
originating in that country and transiting Chile. These inspection
restrictions impede efforts to interdict shipments of illegal
narcotics, allowing some cargo to pass through Chilean ports
without inspection.
The Government of Chile considers counternarcotics one of its
top priorities and has a national strategy for combating narcotics
trafficking and demand reduction. The Ministry of Interior is
responsible for Chile’s institutional drug control efforts, overseeing
the Carabineros (uniformed police), Policia de Investigaciones
(investigative police, known as the PDI), and SENDA (Chile’s
national drug control commission, formerly CONACE).
Chile is a party to the 1988 UN Drug Convention.
For Full report, click here
____________________________________________________
US State Dept Trafficking in Persons Report 2011
(introduction):
(Tier 2)
Chile is a source, transit, and destination country for men, women,
and children subjected to sex trafficking and forced labor. Within
the country, many victims are Chilean women and girls who
respond to false job offers and subsequently are subjected to sex
trafficking. To a limited extent, Chilean women and girls also are
subjected to sex trafficking in neighboring countries such as
Argentina, Peru, and Bolivia, as well as Spain. Women and girls
from Argentina, Bolivia, Peru, Ecuador, Paraguay, and other Latin
American countries are lured to Chile by fraudulent job offers and
subsequently coerced into prostitution or forced domestic service.
Foreign victims of labor trafficking, primarily from Bolivia, Peru,
Colombia, Ecuador, and China, have been identified in Chile’s
mining and agricultural sectors. There are reports that children
are recruited against their will as drug mules along the borders
with Bolivia and Peru.
The Government of Chile does not fully comply with the minimum
standards for the elimination of trafficking; however, it is making
significant efforts to do so. During the reporting period, Chilean
authorities increased their overall law enforcement efforts against
sex trafficking offenses. Chilean law enforcement efforts shifted
compared to the previous reporting period; the number of
investigations and convictions for promoting or facilitating child
prostitution increased, while the number of investigations and
convictions for transnational sex trafficking decreased. In a
notable sign of progress, in March 2011 the Chilean congress
passed comprehensive anti-trafficking legislation that had been
pending in the Senate since 2007. However, Chilean officials did
not proactively investigate labor trafficking during the reporting
period. The government offered limited services to adult sex
trafficking victims and victims of labor trafficking, but increased
specialized services for children exploited in commercial sex.
For full report click here
____________________________________________________
US State Dept Terrorism Report 2010
Overview: Chile's major legislative accomplishments this year
included reforming the counterterrorism law in response to a
hunger-strike by indigenous Mapuche activists protesting the
application of the law in land dispute cases and passing a law
increasing the penalty for financing terrorism. In August, Chile
adopted a new security plan that increases border protection to
counter drug and human trafficking, and a new requirement that
businesses report suspicious financial transactions. Chile was not
considered a major destination for international terrorist activity.
Domestic anarchist groups engaged in several small-scale bomb
attacks.
2010 Terrorist Incidents: Approximately 80 improvised explosive
devices (IEDs) were detonated, deactivated, or found in 2010.
Officials believed that these IEDs were tied to anarchist activity.
The majority of the bombs were small and crudely built and most
of the attacks in the first half of the year took place late at night
and did not appear to be designed to kill or injure people. A slight
change in modus operandi was seen from July to October,
however, as anarchist bomb makers began placing IEDs in areas
more likely to injure passersby during times of high traffic at both
restaurants and near malls. These IEDs did not injure anyone as
passersby saw and reported them, and they were consequently
deactivated by the Chilean special police unit (GOPE). Since the
arrest of 14 anarchist bomb makers in September and October,
only one IED has been reported or found.
Chilean law enforcement agencies confronted sporadic low-level
violence related to indigenous land disputes throughout the year.
A group of indigenous Mapuches staged a demonstration against
the Chilean state and staged a sit-in of the UN building. The
demonstration was part of a larger protest, including a massive
hunger strike, against the application of a counterterrorism law to
prosecute some Mapuche activists. The Coordinadora Arauco
Malleco (CAM), a group seeking recovery of former Mapuche
indigenous lands, sometimes through radical means, claimed
responsibility for several arson attacks during the year.
Legislation and Law Enforcement: On October 8, several
significant changes to Chile's anti-terrorism law entered into
effect; modifications to existing articles included redefining what
constitutes a terrorist act and regulating how the defense can
cross-examine protected witnesses (whose identities are secret).
The legislative changes were a direct result of a hunger strike by
32 Mapuche prisoners, the majority of whom were in pretrial
detention, protesting their prosecution under the anti-terrorism
law and the military justice system for charges relating to their
protest over the disputed lands, which included destruction of
property, attacks on farms, or confrontations with police.
On May 10, Pakistani citizen Mohammed Saif Ur Rehman Khan
was detained after a security check at the U.S. Embassy revealed
traces of explosive residue on his clothes and personal
belongings. Chilean law enforcement officials investigated Khan
for suspected terrorist activity and terrorist ties. On December 1,
the Public Prosecutor's Office announced it was ending its
investigation as it did not have sufficient evidence to bring the
case to court.
Chilean authorities also detained Chilean citizen Manuel Francisco
Olate Cespedes for suspected involvement with the Revolutionary
Armed Forces of Colombia following an extradition request from
the Colombian government. Olate faces several charges in
Colombia, including terrorist financing, aiding and abetting a crime
with terrorist ends, and administration of resources related to
terrorist activities.
Countering Terrorist Finance: Chile has a large and well-
developed banking and financial sector with an established anti-
money laundering and counterterrorist financing regime. All
banks, financial institutions, and companies involved in money
transfers are required to report suspicious transactions. Chile is a
member of the Financial Action Task Force (FATF) of South
America (GAFISUD) and the Egmont Group of Financial
Intelligence Units. Chile complied with UNSCRs 1267 and 1373
and supported efforts to freeze terrorist assets.
Regional and International Cooperation: Chile was actively
involved in the UN, OAS, and APEC, and incorporated those
groups’ recommendations into its security strategy. Chile also
collaborated on bilateral and sub-regional activities to prevent
terrorism through the Southern Common Market (MERCOSUR),
and participated on international initiatives such as the Global
Initiative to Combat Nuclear Terrorism. Chile ratified the
International Convention for Suppression of Acts of Nuclear
Terrorism.
____________________________________________________
Links:
Worldwide AML Legislation (International Bar Association)
Unidad de Análisis Financiero (UAF)
None applicable
____________________________________________________
Offshore Jurisdiction Blacklists:
Yes, but no further information currently available.
____________________________________________________
US State Department Money Laundering Report - 2011:
Chile has a large and well-developed banking and financial sector
with an established anti-money laundering/counter-terrorism
financing (AML/CFT) regime. Systematic vulnerabilities in Chile’s
regime include stringent bank secrecy laws and relatively new
regulatory institutions in which oversight gaps remain. The
Government of Chile (GOC) is actively seeking to turn Chile into a
global financial center, but not an offshore financial center. Chile
has free trade agreements with more than 50 countries. Increased
trade and currency flows, combined with an expanding economy,
could attract illicit financial activity and money laundering.
Chile’s largely unregulated free trade zones present an additional
vulnerability, given the country’s extensive trading partnerships
and long, difficult to monitor borders. Illicit proceeds from limited
drug trafficking and domestic consumption are laundered in the
country.
DO FINANCIAL INSTITUTIONS ENGAGE IN CURRENCY
TRANSACTIONS RELATED TO INTERNATIONAL NARCOTICS
TRAFFICKING THAT INCLUDE SIGNIFICANT AMOUNTS OF US
CURRENCY; CURRENCY DERIVED FROM ILLEGAL SALES IN
THE U.S.; OR THAT OTHERWISE SIGNIFICANTLY AFFECT THE
U.S.: NO
CRIMINALIZATION OF MONEY LAUNDERING:
“All serious crimes” approach or “list” approach to predicate
crimes: List
Legal persons covered: criminally: YES civilly: YES
CRIMINALIZATION OF TERRORIST FINANCING:
Ability to freeze terrorist assets without delay: YES
UN lists of designated terrorists or terrorist entities distributed to
financial institutions: YES
KNOW-YOUR-CUSTOMER RULES:
Covered entities: Banks (checking but not savings accounts) and
other financial institutions, credit unions, pension funds, mutual
fund administrators, brokers and dealers, leasing and factoring
companies, credit card issuers and operators, insurance
companies, insurance brokers
Enhanced due diligence procedures for PEPs: Foreign: NO
Domestic: NO
SUSPICIOUS TRANSACTION REPORTING REQUIREMENTS:
Covered entities: Banks; savings and loan associations; financial
leasing companies; general, mutual funds and investment funds
managers; pension fund administration companies; the Foreign
Investment Committee; money exchange firms and other entities
authorized to receive foreign currencies; factoring firms; credit
card issuers and operators; money transfer and transportation
companies; stock exchanges; stock exchange brokers; securities
companies and agents; insurance companies; forwards and
options markets operators; tax-free zones’ legal representatives;
casinos; gambling houses and horse tracks; customs general
agents; auction houses; realtors and land developers; notaries
and registrars; and sports clubs
Number of STRs received and time frame: 617 (January through
September 2010)
Number of CTRs received and time frame: 1,027 (January
through June 2010)
MONEY LAUNDERING CRIMINAL
PROSECUTIONS/CONVICTIONS:
Prosecutions: 34 (January through September 2010)
Convictions: Seven (January through September 2010)
Assets forfeited: criminally: $184,773.87 (January through
September 2010) civilly: Not available
RECORDS EXCHANGE MECHANISM:
With U.S.: YES
With other governments/jurisdictions: YES
Chile is a member of the Financial Action Task Force of South
America (GAFISUD), a Financial Action Task Force (FATF)-style
regional body. Its most recent mutual evaluation can be found
here: http://www.gafisud.info/microsite/index.htm
ENFORCEMENT AND IMPLEMENTATION ISSUES AND
COMMENTS:
Chile’s “list” approach only includes some of the recommended
predicate offenses for money laundering. Chile has yet to widen
the scope of the money laundering offense to apply it to crimes
such as trafficking in persons, intellectual property rights
violations, and extortion.
It is not common for all sectors of the financial system to be
obliged to retain customer information for five years after the
account was closed or the commercial relationship ended.
Separately, there is no clear definition of politically exposed
person (PEP). Existing laws do not clearly establish that STRs
need to be submitted for the financing of terrorism or for the
attempt to conduct a suspicious transaction even though the
actual transaction is not realized/finalized. In addition the current
legislation does not expressly specify that the UAF (Chilean
financial intelligence unit) has competency to receive STRs
related to the financing of terrorism.
The most significant obstacle to money laundering investigations
is bank secrecy. The General Banking Law places all types of
bank deposits and obligations under banking secrecy, and only
allows banking institutions to share information about such
transactions with the depositor or creditor (or an authorized legal
representative). Law 707 states banks may not share information
about the movement and balances in a current account with a
third party. Due to these legal restrictions, banks do not share
information with prosecutors without a judicial order. Some banks
and their compliance officers aggressively apply rigorous,
international AML/CFT standards, but they are restricted to simply
reporting suspicious activity and then waiting for the appropriate
court authorization to release any private information. Other
banks are slow to reply to court orders to provide prosecutors with
additional information. Judges can detain the bank’s general
manager until all information is disclosed, but this tool is rarely
used. In December, 2009, a legislative reform allowed tax
authorities access to bank information without a judicial order
under certain circumstances.
Chile’s anti-money laundering efforts continue to mature. At the
same time, the GOC can still do more to investigate complex
money laundering schemes, such as trade-based money
laundering. Law No. 20,393, which entered into force in
December 2009, makes it a crime for corporations to engage in
money laundering, as well as bribe public officials and finance
terrorism.
The GOC can improve its AML/CFT regime by: expanding the list
of predicate crimes for money laundering to include all serious
crimes; establishing regulatory control over non-bank institutions
such as money exchange houses and charities; expanding
customer due diligence requirements to cover all recommended
entities and mandating enhanced due diligence procedures for
politically exposed persons; and passing the draft law currently
pending in the Senate to allow for the lifting of bank secrecy and
the freezing of assets to bring Chile closer to compliance with its
UNSCR 1267 obligations and international standards.
____________________________________________________
US State Dept Narcotics Report 2012 (introduction):
Chile is not a major producer of organic or synthetic drugs. It is,
however, a significant transit country for Andean cocaine
shipments destined for elsewhere, particularly Europe. Chile is a
source country for precursor chemicals used for cocaine
production in Peru and Bolivia, as well as a source for Mexico-
bound ephedrine, a critical ingredient used in the production of
methamphetamine. According to the 2011 UN World Drug Report,
Chile is the second largest consumer of marijuana and cocaine
per capita in South America.
Due to its long and difficult-to-monitor borders with Peru, Bolivia,
and Argentina, Chile faces a special challenge in combating drug
trafficking. Furthermore, inspection restrictions established by the
treaty ending the War of the Pacific require Chilean authorities to
seek permission from the Government of Bolivia to inspect cargo
originating in that country and transiting Chile. These inspection
restrictions impede efforts to interdict shipments of illegal
narcotics, allowing some cargo to pass through Chilean ports
without inspection.
The Government of Chile considers counternarcotics one of its
top priorities and has a national strategy for combating narcotics
trafficking and demand reduction. The Ministry of Interior is
responsible for Chile’s institutional drug control efforts, overseeing
the Carabineros (uniformed police), Policia de Investigaciones
(investigative police, known as the PDI), and SENDA (Chile’s
national drug control commission, formerly CONACE).
Chile is a party to the 1988 UN Drug Convention.
For Full report, click here
____________________________________________________
US State Dept Trafficking in Persons Report 2011
(introduction):
(Tier 2)
Chile is a source, transit, and destination country for men, women,
and children subjected to sex trafficking and forced labor. Within
the country, many victims are Chilean women and girls who
respond to false job offers and subsequently are subjected to sex
trafficking. To a limited extent, Chilean women and girls also are
subjected to sex trafficking in neighboring countries such as
Argentina, Peru, and Bolivia, as well as Spain. Women and girls
from Argentina, Bolivia, Peru, Ecuador, Paraguay, and other Latin
American countries are lured to Chile by fraudulent job offers and
subsequently coerced into prostitution or forced domestic service.
Foreign victims of labor trafficking, primarily from Bolivia, Peru,
Colombia, Ecuador, and China, have been identified in Chile’s
mining and agricultural sectors. There are reports that children
are recruited against their will as drug mules along the borders
with Bolivia and Peru.
The Government of Chile does not fully comply with the minimum
standards for the elimination of trafficking; however, it is making
significant efforts to do so. During the reporting period, Chilean
authorities increased their overall law enforcement efforts against
sex trafficking offenses. Chilean law enforcement efforts shifted
compared to the previous reporting period; the number of
investigations and convictions for promoting or facilitating child
prostitution increased, while the number of investigations and
convictions for transnational sex trafficking decreased. In a
notable sign of progress, in March 2011 the Chilean congress
passed comprehensive anti-trafficking legislation that had been
pending in the Senate since 2007. However, Chilean officials did
not proactively investigate labor trafficking during the reporting
period. The government offered limited services to adult sex
trafficking victims and victims of labor trafficking, but increased
specialized services for children exploited in commercial sex.
For full report click here
____________________________________________________
US State Dept Terrorism Report 2010
Overview: Chile's major legislative accomplishments this year
included reforming the counterterrorism law in response to a
hunger-strike by indigenous Mapuche activists protesting the
application of the law in land dispute cases and passing a law
increasing the penalty for financing terrorism. In August, Chile
adopted a new security plan that increases border protection to
counter drug and human trafficking, and a new requirement that
businesses report suspicious financial transactions. Chile was not
considered a major destination for international terrorist activity.
Domestic anarchist groups engaged in several small-scale bomb
attacks.
2010 Terrorist Incidents: Approximately 80 improvised explosive
devices (IEDs) were detonated, deactivated, or found in 2010.
Officials believed that these IEDs were tied to anarchist activity.
The majority of the bombs were small and crudely built and most
of the attacks in the first half of the year took place late at night
and did not appear to be designed to kill or injure people. A slight
change in modus operandi was seen from July to October,
however, as anarchist bomb makers began placing IEDs in areas
more likely to injure passersby during times of high traffic at both
restaurants and near malls. These IEDs did not injure anyone as
passersby saw and reported them, and they were consequently
deactivated by the Chilean special police unit (GOPE). Since the
arrest of 14 anarchist bomb makers in September and October,
only one IED has been reported or found.
Chilean law enforcement agencies confronted sporadic low-level
violence related to indigenous land disputes throughout the year.
A group of indigenous Mapuches staged a demonstration against
the Chilean state and staged a sit-in of the UN building. The
demonstration was part of a larger protest, including a massive
hunger strike, against the application of a counterterrorism law to
prosecute some Mapuche activists. The Coordinadora Arauco
Malleco (CAM), a group seeking recovery of former Mapuche
indigenous lands, sometimes through radical means, claimed
responsibility for several arson attacks during the year.
Legislation and Law Enforcement: On October 8, several
significant changes to Chile's anti-terrorism law entered into
effect; modifications to existing articles included redefining what
constitutes a terrorist act and regulating how the defense can
cross-examine protected witnesses (whose identities are secret).
The legislative changes were a direct result of a hunger strike by
32 Mapuche prisoners, the majority of whom were in pretrial
detention, protesting their prosecution under the anti-terrorism
law and the military justice system for charges relating to their
protest over the disputed lands, which included destruction of
property, attacks on farms, or confrontations with police.
On May 10, Pakistani citizen Mohammed Saif Ur Rehman Khan
was detained after a security check at the U.S. Embassy revealed
traces of explosive residue on his clothes and personal
belongings. Chilean law enforcement officials investigated Khan
for suspected terrorist activity and terrorist ties. On December 1,
the Public Prosecutor's Office announced it was ending its
investigation as it did not have sufficient evidence to bring the
case to court.
Chilean authorities also detained Chilean citizen Manuel Francisco
Olate Cespedes for suspected involvement with the Revolutionary
Armed Forces of Colombia following an extradition request from
the Colombian government. Olate faces several charges in
Colombia, including terrorist financing, aiding and abetting a crime
with terrorist ends, and administration of resources related to
terrorist activities.
Countering Terrorist Finance: Chile has a large and well-
developed banking and financial sector with an established anti-
money laundering and counterterrorist financing regime. All
banks, financial institutions, and companies involved in money
transfers are required to report suspicious transactions. Chile is a
member of the Financial Action Task Force (FATF) of South
America (GAFISUD) and the Egmont Group of Financial
Intelligence Units. Chile complied with UNSCRs 1267 and 1373
and supported efforts to freeze terrorist assets.
Regional and International Cooperation: Chile was actively
involved in the UN, OAS, and APEC, and incorporated those
groups’ recommendations into its security strategy. Chile also
collaborated on bilateral and sub-regional activities to prevent
terrorism through the Southern Common Market (MERCOSUR),
and participated on international initiatives such as the Global
Initiative to Combat Nuclear Terrorism. Chile ratified the
International Convention for Suppression of Acts of Nuclear
Terrorism.
____________________________________________________
Links:
Worldwide AML Legislation (International Bar Association)
Unidad de Análisis Financiero (UAF)
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
| Further Tables |
|
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
*Please note that FATF deems that a country has significant aml deficiencies if any
of the 'Core' Recommendations, R1, R5, R10, R13, SRII, or SRIV are rated either
Partially of Non-Compliant. These are marked in red.
For FATF to remove a country from the regular follow-up process, it has to be rated
Compliant or Largely Compliant in the above mentioned Core Recommendations
and the following Key Recommendations: -
R3, R4, R23, R26, R35, R36, R40, SRI, SRIII, SRV
Please also note that any risk assessment should take into consideration all
follow-up reports.
of the 'Core' Recommendations, R1, R5, R10, R13, SRII, or SRIV are rated either
Partially of Non-Compliant. These are marked in red.
For FATF to remove a country from the regular follow-up process, it has to be rated
Compliant or Largely Compliant in the above mentioned Core Recommendations
and the following Key Recommendations: -
R3, R4, R23, R26, R35, R36, R40, SRI, SRIII, SRV
Please also note that any risk assessment should take into consideration all
follow-up reports.
| CHILE |
| KnowYourCountry |
|
|
| Last Updated: 16 April 2012 |