ONCDOFT authorities evaluated progress in preventing and combating financial crimes

Published at: 30/08/2025 08:45 AM

Authorities from the National Office against Organized Crime and Terrorism Financing (ONCDOFT) held a meeting in which representatives of the Standing Committee on Action and Prevention participated, to evaluate the progress made by the different sectors of the national economy during the year 2025, as part of the prevention and fight against Money Laundering, Financing of Terrorism and the Financing of the Proliferation of Weapons of Mass Destruction.

During the meeting, which was led by the head of ONCDOFT, G/D Santiago León Sandoval Bastardo; representatives of supervisory and control bodies and bodies also discussed the need to harmonize the standards applied in all financial sectors, to carry out risk-based supervision.

They stated the importance of each economic sector requiring its Obligated Subjects to apply Joint Resolution 017-006 between the Ministry of People's Power for Internal Relations, Justice and Peace; and the Ministry of the People's Power of Economy and Finance, published in Official Gazette number 43,101 dated April 3, 2025, on targeted financial sanctions, which is part of the new regulatory framework of the Bolivarian Republic of Venezuela to cover the measures preventive measures established in recommendations 6 and 7 of the Financial Action Group (FATF).

It should be noted that the Standing Committee on Action and Prevention has coordinated the necessary actions to highlight the efforts and achievements that the Venezuelan State has obtained in relation to the fight against the above-mentioned punishable actions, as well as has promoted initiatives that strengthen international ties and reaffirm the country's commitment to the prevention and combat of financial crimes.

VTV