CABEI and the Latin American Financial Action Task Force launch program to strengthen anti-money laundering and terrorism financing systems in 18 Latin American countries


Since 2021, the Bank has been collaborating with the Latin American Financial Action Task Force (GAFILAT) to help its member countries achieve the objectives of preventing and combating money laundering, the financing of terrorism and the proliferation of weapons.

Panama City, August 10th, 2023. - To strengthen the capacities of the competent authorities in the fight against the risks of money laundering, terrorism financing and the proliferation of weapons of mass destruction, fraud and corruption, the Central American Bank for Economic Integration (CABEI) approved a non-reimbursable technical cooperation for up to US$838,425 to execute the "Program to Strengthen the Anti-Money Laundering and Terrorism Financing (AML/TF) Systems of the region’s countries for the Fifth Round of Mutual Evaluations".

The initiative seeks to strengthen AML/TF processes in the region in preparation for the fifth round of GAFILAT Mutual Evaluations of 18 countries, 11 of which are CABEI members, and to avoid the possibility of being placed on restriction lists, which has a direct impact on economies and international trade relations.

The program was launched in Panama City in the framework of the XLVII Meeting of the GAFILAT Work Groups and Plenary Session of Representatives, with the presence of its President Pro-Tempore, Jorge Chediak and its Executive Secretary, Esteban Fullin; and on behalf of CABEI, the heads of the Credit, Integrity and Compliance Office (OFIC) and Representation in Panama, Randall Chang, Rennie Valladares Alcerro and Carlos Moreno, respectively. Also in attendance were National Coordinators to GAFILAT from the Republic of Panama, Honduras, El Salvador, Costa Rica and Guatemala.

In its participation, CABEI presented all the projects that have been included in the program and thanked GAFILAT and the countries for the trust placed in the Bank, which has made it possible to take action to support initiatives such as this one.

GAFILAT’s President Pro-Tempore, Mr. Jorge Chediak, emphasized: "GAFILAT and CABEI not only have members in common, but also have similar objectives within the framework of a highly integrated region, which is why working jointly and in coordination is more than a choice, it is a real duty".

This important alliance is aligned with CABEI's 2020-2024 Institutional Strategy, in its Regional Integration axis, which seeks to promote regional initiatives in specific sectors, financing and the promotion of the region as an integrated market.