Honduras

New Documents

GAFILAT Publishes Seventh Follow-Up Report of Honduras

The Financial Action Task Force of Latin America released a seventh enhanced follow-up report for Honduras, which re-rates the jurisdiction with Technical Recommendations 3, 10, 17, 23, 29 and 34.

March 3, 2020

GAFILAT Releases Mutual Evaluation of Honduras

The Financial Action Task Force of Latin America published a mutual evaluation report for Honduras, concluding the nation has a low effectiveness score in two out of 11 categories and is non-compliant or partially compliant with 10 recommendations.

October 14, 2016

White House: Northern Triangle Leaders Discuss Cooperation on Transnational Criminal Organizations

September 25, 2016

Transparency International Embraces Announcement of New Anti-Corruption Body

January 21, 2016

U.S. Supports Security Programs, AML Initiatives in Northern Triangle

March 3, 2015

News

Midweek Roundup: US Ransomware SARs Spike, Check Counterfeiters Target Youth, and More

U.K. wants beneficial ownership verification, Russian oil giant skirts U.S. sanctions, and more, in the midweek roundup.

November 2, 2022

Weekly Roundup: FinCEN Risks Breaching Ownership Database Deadline, Pakistan Accuses India of FATF Meddling, and More

South Korea exempts NFTs from AML rules, China discovers first digital-yuan money laundering scheme, and more, in the weekly roundup.

November 5, 2021

Weekly Roundup: FinCEN Revokes Banco Delta Asia Blacklisting, US Prosecutors Target Kolomoisky Properties, and More

August 7, 2020

Midweek Roundup: White House Proposes Returning Secret Service to Treasury, Withdraws Nomination, and More

February 12, 2020

Weekly Roundup: EU Ministers to Discuss Bloc-wide AML Regulator, UK Officials Route Iran Settlement Payment Through Third Country, and More

October 4, 2019

Enforcement Actions

0 Items Found

Key Documents

Honduras Criminalizes Money Laundering (in Spanish)

May 15, 2002

Honduras Amends Primary AML Law (in Spanish)

March 14, 2008

Honduras Enacts Counterterrorist Financing Controls (in Spanish)

December 11, 2010

Honduras Approves Asset Forfeiture Law (in Spanish)

June 16, 2010

Honduras Creates Commission to Combat Money Laundering (in Spanish)

January 7, 2005

Honduras Requires the Identification of Beneficial Ownership (in Spanish)

January 11, 2012

Important Facts

The U.S. State Department labels Honduras as a major money laundering country. Honduras is not an important regional or offshore financial center. Money laundering in the country stems primarily from public corruption and narcotics trafficking by organized criminal groups. Honduras' geographic location makes it an ideal haven for transnational organized crime groups, including human and drug trafficking organizations. A significant amount of laundered proceeds pass directly through the formal banking system, but illicit funds are also known to pass through the non-financial sector, in particular the automobile sector, real estate, remittance companies, currency exchange houses, the construction sector and cattle ranching in remote areas of Honduras. The State Department notes that Honduras established a comprehensive national anti-money laundering strategy in 2019. Honduras has know-your-customer and suspicious transaction reporting regulations, but additional procedures are necessary for full implementation of the country’s 2015 AML law. In addition, bearer shares are legal in Honduras and there is no system for beneficial ownership registration to identify beneficiaries in complex financial transactions. The country has established the Financial Investigation Police Office, a former ad hoc investigation unit, in order to conduct financial investigations related to money laundering and asset forfeiture.

-Source: 2021 International Narcotics Control Strategy Report (INCSR)

Rankings

FATF i | 2013 methodology

Technical	Effectiveness
Compliant : 18	High : 1
Largely Compliant : 14	Substantial : 2
Partially Compliant : 6	Moderate : 6
Non-Compliant : 2	Low : 2

Honduras' technical compliance was re-rated in a Janurary 2020 follow-up report

BASEL i

Rank : 68/110

Score : 5.52/10

TRANSPARENCY INTERNATIONAL i

Rank : 157/179

Score : 24/100

Tax Justice Network i

Rank : N/A

Score : N/A