Government publishes national evaluation on money laundering

Tue. 11 of Outubro of 2016, 15:33h

On October 7th, the Minister of Justice, Ivo Valente, presented the public document that brings together the first exercise of National Evaluation of the Risks of Money Laundering and Terrorist Financing, and the National Strategic Plan to combat money laundering and the financing of terrorism (2016-2020).

The Plan offers 10 strategic objectives, with their actions and calendar, as well as the bodies responsible for their implementation, so citizens can make an analysis between what was determined in the context of the joint evaluation exercise and the measures that the Government undertakes to execute in the context of its multi-annual Strategic Plan.

Approved by the Council of Ministers, the National Commission for the Implementation of Measures to Combat Money Laundering and Financing of Terrorism, known as the National Commission for Combating Money Laundering (in Portuguese CNCBC), has the mission to coordinate the implementation of the recommendations and best practices defined by the Financial Action Task Force (on Money Laundering) (FATF). This intergovernmental group is responsible for setting international standards in the field of prevention and combating money laundering, the financing of terrorism and the proliferation of weapons of mass destruction. It also heads the Asia/Pacific Group (APG) on Money Laundering, of which Timor-Leste is a member since July 2008.

In the October 7th, 2016, meeting, the third meeting of the Committee, the main findings of the participation of Timor-Leste in the 19th Annual APG Meeting, held in San Diego, California (USA), from September 5th to 8th, 2016, were presented. These meetings are very useful to coordinate transparency efforts and sharing good practices and knowledge.

For the preparation of the two documents now published, the Sixth Government relied on its partnership with the Asian Development Bank, which ensured all technical support, through its Initiative for the Private Sector Development in the Pacific. Also had the collaboration of the international expert Richard Chalmers, as well as all the members of the CNCBC, its Permanent Secretariat and, in particular, of the Financial Intelligence Unit, through its Executive Director, Maria José Sarmento, in addition to the cooperation of the private sector.