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LatinNews Regional Monitor: Caribbean & Central America - 16 October 2018

In brief: El Salvador

* According to El Salvador’s attorney general’s office (FGR), the Egmont Group of Financial Intelligence Units (FIU) has suspended El Salvador from the group as of 24 September. The Egmont Group is a united body of 159 FIUs which provides a platform for the secure exchange of expertise and financial intelligence to combat money laundering and terrorist financing (ML/TF). The move is in response to the August 2018 decision by El Salvador's President Salvador Sánchez Cerén to veto a reform, passed by the 84-member unicameral national legislature the previous month, to the law establishing the FGR, which would have given the country’s FIU technical autonomy. According to the FGR, if the situation continues as it is, El Salvador will be definitively expelled from the Egmont Group in July 2019.

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