30th March 2017
The U.S. State Department’s annual International Narcotics Control Strategy Report came out this month. In the Money Laundering and Financial Crimes section, the report’s second volume, Costa Rica is noted as being a favorable base for, “transnational criminal organizations to commit financial crimes due to its location… Read More
20th July 2016
Under the banner of fighting drug trafficking, but more important the country not falling on the “black list”, Costa Rica’s legislator have approved in first debate reforms  against terrorism and money laundering. With a vote of 39 (of 55) in favour, the reforms criminalize terrorism financing,… Read More
25th February 2016
NEW YORK: A New York judge agreed to a house arrest arrangement Wednesday for Eduardo Li, former president of the Costa Rican Football Federation charged in the FIFA corruption case, in exchange for a $5 million deposit. Read More
Must Read

EU adopts Sixth Anti-Money Laundering Directive EU 6AMLD, deadline set

Countries across the European Union will have two years to implement a new system of jail sentences and sanctions for money launderers following the formal adoption of the EU’s latest anti-money laundering directive, dubbed 6AMLD (Sixth Anti-Money Laundering Directive) on 11 October 2018. Once the directive is published in the… Read More

Anti-money laundering compliance costs hit $25 billion annually – study

The cost of AML compliance across U.S. financial services firms equaled $25.3 billion per year based on survey responses from more than 150 decision-makers at banks, investment, asset management and insurance firms, according to a new study. The report shows that smaller firms are hit hardest, relative to their bottom… Read More