Comparative Study on Money Laundering and Terrorism Financing in Ecuador and Uruguay: A Critical Review
Keywords:
Money laundering, Terrorism financing, information, supervision, money laundering risk (MLR)Abstract
Both Ecuador and Uruguay have made significant progress in combating money laundering and the financing of terrorism. Both countries have solid legal frameworks and effective cooperation at the national and international levels. However, there are differences in the identified challenges. The information from each chapter of the Mutual Evaluation Reports of the Republic of Ecuador and Uruguay was used to determine the categories, codes, and analyze the information using data mining (QDA Miner). The mutual evaluation reports issued by the FATF on Ecuador and Uruguay highlight the progress made in preventing and combating AML/CFT in both countries, as well as the challenges that still need to be addressed. These reports provide a basis for the implementation of enhanced measures, strengthening supervision, and international cooperation in the fight against these transnational financial