Security & Strategic Review - June 2017 (ISSN 1741-4202)

COSTA RICA | Anti-money laundering legislation approved. Last month Costa Rica’s 57-member unicameral national assembly approved a legislative bill (19,951) which aims to regulate non-financial activities vulnerable to money laundering, extending regulatory supervision to credit card operators, money transfer business, casinos, and real estate developers and agents. In December 2016, the national assembly passed another legislative bill (19,245) that seeks to combat fiscal fraud by creating a registry of beneficial owners of legal entities. The moves are in line with recommendations by the Financial Action Task Force (FATF), an intergovernmental body formed to combat money laundering and the financing of terrorism.

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