Last Monday the scope of the new Criminal Code (COIP) was exposed to the members of the Financial Action Task Force (FATF). The General Attorney, Diego Garcia, General Prosecutor Galo Chiriboga, and the superintendent of Companies, Suad Manssur, headed the delegation.
About the issue, Chiriboga stated that they gave them a magnetic version of the new law. Likewise a certification of publication in the Official Register was presented. In response, the FATF recognized the progress made by Ecuador in this topic.
This involves the removal of the warning measures against Ecuador and at the same time to continue to comply with the action plan, Chiriboga said.
Regarding the output of Ecuador from the FATF blacklist, he said: “It’s hard to say because it depends on many things. For example, that the information that the Gafisud receives be timely because it often arrives with some delay. ”
In mid-2013, the agency warned that the country had “certain deficiencies” in the fight against money laundering and terrorist financing, whereby Ecuador was kept in the list of non-cooperative countries in the fight against this crime.