Publication: Anti-Money Laundering and Combating the Financing of Terrorism : Honduras
Loading...
Date
2009
ISSN
Published
2009
Author(s)
Editor(s)
Abstract
This Report provides a summary of the level of compliance with the Financial Action Task Force, and provides recommendations to improve compliance within the prevailing context of Honduras. The views expressed in this document are those of the assessment team and do not necessarily reflect the views of the Government of Honduras or the Boards of the World Bank (WB) and International Monetary Fund (IMF). Honduras has set up a number of the fundamental components of an anti-money laundering (AML) regime, through various legislative and regulatory instruments and an institutional framework which includes law enforcement, prosecution, and supervisory bodies. While progress has been made, key changes are needed to laws and regulations in order for Honduras to have more effective money laundering and financing of terrorism regime. There is a lack of strategic direction and coordination among the participants. A focal point and coordination body needs to be established, involving senior representatives of all the entities involved in anti-money laundering and counter-terrorist financing to ensure the most effective and efficient collaboration of the initiative, and to ensure that necessary policy, regulatory and legislative measures can be expeditiously developed, approved and implemented and that initiative wide statistics on workload, performance and results are collected and shared.
Link to Data Set
Citation
“World Bank. 2009. Anti-Money Laundering and Combating the Financing of Terrorism : Honduras. © World Bank. http://hdl.handle.net/10986/12970 License: CC BY 3.0 IGO.”
Associated URLs
Associated content
Other publications in this report series
Journal
Journal Volume
Journal Issue
Collections
Related items
Showing items related by metadata.
Publication Union of Comoros : Detailed Assessment Report of Anti-Money Laundering and Combatting the Financing of Terrorism(World Bank, Washington, DC, 2010-03)The assessment of the anti-money laundering and combating the financing of terrorism (AML/CFT) system of the Union of the Comoros was based on the 2003 Forty Recommendations and the 2001 Nine Special Recommendations developed by the FATF (Financial Action Task Force). It was prepared according to the 2004 AML/CFT Methodology, as updated in October 2008. The assessment was based on laws, regulations, and other documents provided by the Union of the Comoros, as well as information gathered by the assessment team during its on-site visit of May 6-20, 2009 and following the mission. During the course of its visit, the assessment team met with leaders and representatives from competent governmental agencies and the private sector. The assessment was performed by a team made up of International Monetary Fund (IMF) staff, an expert acting under the supervision of the IMF, and an expert acting under the supervision of the World Bank. The participants in this assessment were Emmanuel Mathias (LEG, mission chief), Chady El Khoury (LEG), Habib Hitti (expert under the supervision of the LEG), and André Cuisset (expert under the supervision of the World Bank). The experts analyzed the institutional framework, laws, regulations, guidelines, and obligations with respect to AML/CFT, as well as the regulatory system or other systems in effect to combat money laundering and terrorist financing within financial institutions and DNFPBs . The adequacy, implementation, and effectiveness of all these mechanisms were also evaluated. This report provides a summary of the AML/CFT measures in effect in the Union of the Comoros on the date of or shortly after the on-site visit. It describes and analyzes these measures, indicates the level of the Union of the Comoros compliance with the 40 + 9 FATF Recommendations (See Table 1), and makes recommendations on measures to be taken to strengthen certain aspects of the systemPublication Asset Recovery Handbook : A Guide for Practitioners(World Bank, 2011-01-18)The handbook is organized into nine chapters, a glossary, and ten appendixes of additional resources. Chapter one provides a general overview of the asset recovery process and legal avenues for recovery, along with practical case examples. Chapter two presents a host of strategic considerations for developing and managing an asset recovery case, including gathering initial sources of facts and information, assembling a team, and establishing a relationship with foreign counterparts for international cooperation. Chapter three introduces the techniques that practitioners may use to trace assets and analyze financial data, as well as to secure reliable and admissible evidence for asset confiscation cases. The provisional measures and planning necessary to secure the assets prior to confiscation are discussed in chapter four; and chapter five introduces some of the management issues that practitioners will need to consider during this phase. Confiscation systems are the focus of chapter six, including a review of the different systems and how they operate and the procedural enhancements that are available in some jurisdictions. On the issue of international cooperation, chapter seven reviews the various methods available, including informal assistance and mutual legal assistance requests; and guides practitioners through the entire process. Finally, chapters eight and nine discuss two additional avenues for asset recovery-respectively, civil proceedings and domestic confiscation proceedings undertaken in foreign jurisdictions.Publication Justice for Forests : Improving Criminal Justice Efforts to Combat Illegal Logging(Washington, DC: World Bank, 2012-03-14)Every two seconds, across the world, an area of forest the size of a football field is clear-cut by illegal loggers. In some countries, up to 90 percent of all the logging taking place is illegal. Estimates suggest that this criminal activity generates approximately US$10-15 billion annually worldwide funds that are unregulated, untaxed, and often remain in the hands of organized criminal gangs. Thus far, domestic and international efforts to curb forest crimes have focused on preventative actions, but they have had little or no significant impact. While prevention is an essential part of enforcement efforts to tackle illegal logging, it has not halted the rapid disappearance of the world's old-growth trees. New ideas and strategies are needed to preserve what is left of forests. This paper suggests that current practice be combined with a more targeted, punitive approach, through more effective use of the criminal justice system. It argues that the criminal justice system should form an integral part of any balanced and organized strategy for fighting forest crime. This strategy should include initiatives to enhance the efficiency of criminal justice in combating illegal logging that is, the investigation, prosecution, and conviction of cases, as well as the confiscation of the proceeds of criminal activity. These initiatives should be deployed in parallel with preventive programs, and the two approaches should complement and reinforce each other. The criminal justice system has been used in the fight against illegal logging, but only in very sporadic instances and in limited and ineffective ways. Moreover, in those few cases, it has tended to target low-level criminals whose involvement in illegal logging is due to poverty. As such, it has created no real deterrent and has encouraged skeptics to further discount the relevance of criminal justice methods. The objective of this paper is to inform policy makers and forestry and law enforcement actors how they can use the criminal justice system in fighting illegal logging. It seeks to mobilize them to take action and address the various criminal acts involved in illegal logging operations. The paper puts forward practical suggestions that can be implemented to achieve a tangible improvement in this fight. Rather than focusing on a single element of the criminal justice system, it provides a broad overview of the topic. Future papers may provide an opportunity to flesh out further detail.Publication Malawi - Mutual Evaluation Report : Anti-Money Laundering and Combating the Financing of Terrorism(Washington, DC, 2008-12)Malawi is a land-locked country. It is bordered by Zambia to the north-west, Tanzania to the north and Mozambique, which surrounds it on the east, south and west. This Report provides a detailed assessment of the Anti-Money Laundering AML/Combating the Financing of Terrorism CFT measures in place in Malawi as of May 11, 2008, two months after completion of the on-site mission. It describes analyses and makes an assessment of the measures and systems in place as of that date, and provides recommendations on how certain aspects of the system could be strengthened. This report provides a detailed assessment of the level of compliance, and provides recommendations to improve compliance with the prevailing context of Malawi. The government of Malawi has demonstrated a high level of commitment to establishing a strong AML/CFT framework. This commitment is reflected by the enactment of the Money Laundering proceeds of serious crime and Terrorist Financing act in August 2006 (ML and TF Act) and the beginnings of an implementation program. Finally, in order to ensure the effective implementation of the ML and TF framework, building the technical AML capacity/knowledge of law enforcement agencies, the public prosecutors and the judiciary will be critical.Publication Anti-Money Laundering and Combating the Financing of Terrorism : Niger(GIABA and the World Bank, Washington, DC, 2009-05-05)The assessment of the Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) regime in Niger was conducted on the basis of the Forty Recommendations and the Nine Special Recommendations on the financing of terrorism drawn up in 2003 and 2001, respectively, by the Financial Action Task Force (FATF), and on the AML/CFT Methodology of 2004. The assessment was based on the laws, regulations, and other materials supplied by the national authorities of Niger, as well as the information gathered in the course of the country visit from June 16 to 27, 2008. During its visit, the assessment team met with the managers and representatives of all the relevant government agencies and the private sector The assessment was conducted by an evaluation team from the World Bank and the Intergovernmental Anti-Money Laundering Group in West Africa (GIABA). To this end, they analyzed the institutional framework, the AML/CFT laws and regulations, regulations, guidelines and other obligations, as well as regulatory or other regimes in force in Niger for combating money laundering and the financing of terrorism. The capacity, implementation, and effectiveness of all these mechanisms were assessed as well. This report provides a summary of the AML/CFT measures in force in Niger as at the date of the on-site visit or immediately thereafter. It describes and analyzes those measures, and makes recommendations on how certain aspects of the system could be strengthened. It also sets out Niger s level of compliance with the FATF 40+9 Recommendations.
Users also downloaded
Showing related downloaded files
Publication Argentina Country Climate and Development Report(World Bank, Washington, DC, 2022-11)The Argentina Country Climate and Development Report (CCDR) explores opportunities and identifies trade-offs for aligning Argentina’s growth and poverty reduction policies with its commitments on, and its ability to withstand, climate change. It assesses how the country can: reduce its vulnerability to climate shocks through targeted public and private investments and adequation of social protection. The report also shows how Argentina can seize the benefits of a global decarbonization path to sustain a more robust economic growth through further development of Argentina’s potential for renewable energy, energy efficiency actions, the lithium value chain, as well as climate-smart agriculture (and land use) options. Given Argentina’s context, this CCDR focuses on win-win policies and investments, which have large co-benefits or can contribute to raising the country’s growth while helping to adapt the economy, also considering how human capital actions can accompany a just transition.Publication World Development Report 2006(Washington, DC, 2005)This year’s Word Development Report (WDR), the twenty-eighth, looks at the role of equity in the development process. It defines equity in terms of two basic principles. The first is equal opportunities: that a person’s chances in life should be determined by his or her talents and efforts, rather than by pre-determined circumstances such as race, gender, social or family background. The second principle is the avoidance of extreme deprivation in outcomes, particularly in health, education and consumption levels. This principle thus includes the objective of poverty reduction. The report’s main message is that, in the long run, the pursuit of equity and the pursuit of economic prosperity are complementary. In addition to detailed chapters exploring these and related issues, the Report contains selected data from the World Development Indicators 2005‹an appendix of economic and social data for over 200 countries. This Report offers practical insights for policymakers, executives, scholars, and all those with an interest in economic development.Publication Lebanon Economic Monitor, Fall 2022(Washington, DC, 2022-11)The economy continues to contract, albeit at a somewhat slower pace. Public finances improved in 2021, but only because spending collapsed faster than revenue generation. Testament to the continued atrophy of Lebanon’s economy, the Lebanese Pound continues to depreciate sharply. The sharp deterioration in the currency continues to drive surging inflation, in triple digits since July 2020, impacting the poor and vulnerable the most. An unprecedented institutional vacuum will likely further delay any agreement on crisis resolution and much needed reforms; this includes prior actions as part of the April 2022 International Monetary Fund (IMF) staff-level agreement (SLA). Divergent views among key stakeholders on how to distribute the financial losses remains the main bottleneck for reaching an agreement on a comprehensive reform agenda. Lebanon needs to urgently adopt a domestic, equitable, and comprehensive solution that is predicated on: (i) addressing upfront the balance sheet impairments, (ii) restoring liquidity, and (iii) adhering to sound global practices of bail-in solutions based on a hierarchy of creditors (starting with banks’ shareholders) that protects small depositors.Publication The Journey Ahead(Washington, DC: World Bank, 2024-10-31)The Journey Ahead: Supporting Successful Migration in Europe and Central Asia provides an in-depth analysis of international migration in Europe and Central Asia (ECA) and the implications for policy making. By identifying challenges and opportunities associated with migration in the region, it aims to inform a more nuanced, evidencebased debate on the costs and benefits of cross-border mobility. Using data-driven insights and new analysis, the report shows that migration has been an engine of prosperity and has helped address some of ECA’s demographic and socioeconomic disparities. Yet, migration’s full economic potential remains untapped. The report identifies multiple barriers keeping migration from achieving its full potential. Crucially, it argues that policies in both origin and destination countries can help maximize the development impacts of migration and effectively manage the economic, social, and political costs. Drawing from a wide range of literature, country experiences, and novel analysis, The Journey Ahead presents actionable policy options to enhance the benefits of migration for destination and origin countries and migrants themselves. Some measures can be taken unilaterally by countries, whereas others require close bilateral or regional coordination. The recommendations are tailored to different types of migration— forced displacement as well as high-skilled and low-skilled economic migration—and from the perspectives of both sending and receiving countries. This report serves as a comprehensive resource for governments, development partners, and other stakeholders throughout Europe and Central Asia, where the richness and diversity of migration experiences provide valuable insights for policy makers in other regions of the world.Publication Classroom Assessment to Support Foundational Literacy(Washington, DC: World Bank, 2025-03-21)This document focuses primarily on how classroom assessment activities can measure students’ literacy skills as they progress along a learning trajectory towards reading fluently and with comprehension by the end of primary school grades. The document addresses considerations regarding the design and implementation of early grade reading classroom assessment, provides examples of assessment activities from a variety of countries and contexts, and discusses the importance of incorporating classroom assessment practices into teacher training and professional development opportunities for teachers. The structure of the document is as follows. The first section presents definitions and addresses basic questions on classroom assessment. Section 2 covers the intersection between assessment and early grade reading by discussing how learning assessment can measure early grade reading skills following the reading learning trajectory. Section 3 compares some of the most common early grade literacy assessment tools with respect to the early grade reading skills and developmental phases. Section 4 of the document addresses teacher training considerations in developing, scoring, and using early grade reading assessment. Additional issues in assessing reading skills in the classroom and using assessment results to improve teaching and learning are reviewed in section 5. Throughout the document, country cases are presented to demonstrate how assessment activities can be implemented in the classroom in different contexts.