This Report provides a summary of thelevel of compliance with the Financial Action Task Force,and provides recommendations to improve compliance withinthe prevailing context of Honduras. The views expressed inthis document are those of the assessment team and do notnecessarily reflect the views of the Government of Hondurasor the Boards of the World Bank (WB) and InternationalMonetary Fund (IMF). Honduras has set up a number of thefundamental components of an anti-money laundering (AML)regime, through various legislative and regulatoryinstruments and an institutional framework which includeslaw enforcement, prosecution, and supervisory bodies. Whileprogress has been made, key changes are needed to laws andregulations in order for Honduras to have more effectivemoney laundering and financing of terrorism regime.Thereis a lack of strategic direction and coordination among theparticipants. A focal point and coordination body needs tobe established, involving senior representatives of all theentities involved in anti-money laundering andcounter-terrorist financing to ensure the most effective andefficient collaboration of the initiative, and to ensurethat necessary policy, regulatory and legislative measurescan be expeditiously developed, approved and implemented andthat initiative wide statistics on workload, performance andresults are collected and shared.
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