Bolivia must be submitted, after nine years, to an evaluation, which is led by the Financial Action Task Force of Latin America (GAFILAT), this year is the fourth round of Mutual Evaluation.
The Association of Private Banks of Bolivia (ASOBAN) organized a master conference addressed to Senior Management, the "Role of Executives and Senior Management in the Framework of the Preparation for the 4th Round of Mutual Evaluation - GAFILAT".
Alejandra Quevedo, international expert, consultant in financial integrity for the World Bank and other organizations, explained the central concepts, procedures and methodology used in each mutual evaluation to verify the degree of progress in the implementation and compliance with the 40 GAFI Recommendations.
The expert pointed out that mutual evaluations are carried out among peers, i.e. GAFILAT member countries provide expert evaluators who take as a starting point the risks of Money Laundering (ML) and Financing of Terrorism (FT) and the context of each country. The mutual evaluation focuses on the evaluation of technical compliance, i.e., it is analyzed that the national legal system is adequate to the International Standards on combating ML, FT and proliferation financing (PF), established in the GAFI standards, as well as the institutional apparatus required for the implementation of these measures.