The Asia/Pacific Group on Money Laundering (APGML) has issued the fourth follow-up report (FUR) on the mutual evaluation of Bhutan. This FUR evaluates Bhutan’s progress in addressing the technical compliance deficiencies that the Group had identified in its mutual evaluation report (MER) adopted in September 2016. This report also evaluates Bhutan’s progress in implementing new requirements related to FATF Recommendations.
The report identifies that Bhutan has made significant improvements in addressing the technical compliance deficiencies that the APGML had identified in its MER. As such, the APGML has re-rated Bhutan’s technical compliance on six Recommendations.
On Recommendations 3, 6, 20, 26, 30 and 33, the APGML has re-rated Bhutan to ‘largely compliant’. Meanwhile, the country’s progress has not been adequate with regard to Recommendations 4 and 28. This is why it has not been re-rated on these Recommendations. Bhutan has maintained its compliance ratings for Recommendations 8, 18 and 21 while its rating has dropped to ‘non-compliant’ for Recommendation 15.