On January 31, 2025, the Financial Action Task Force (FATF) published an update on the mutual evaluation ratings of 205 countries regarding their measures to prevent Money Laundering and the Financing of Terrorism (“AML/CFT”).
These evaluations are crucial for the global financial system, as they analyze how each country implements FATF Recommendations through legal and institutional actions.
The evaluation process is divided into two key components: technical compliance, which verifies the conformity of laws and procedures, and effectiveness, which measures the practical results achieved.
Colombia’s evaluation highlighted significant progress in asset confiscation, international cooperation, and regulatory compliance oversight. However, it recommended strengthening financial sanctions, particularly in the fight against the financing of terrorism.
These ratings are crucial for businesses, as they enable informed decision-making and the establishment of robust controls when interacting with international third parties.
