FATF status

Uruguay is not on the FATF List of Countries that have been identified as having strategic AML deficiencies

Compliance with FATF Recommendations

The last Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Uruguay was undertaken in 2019. According to that Evaluation, Uruguay was deemed Compliant for 16 and Largely Compliant for 23 of the FATF 40 Recommendations. It was deemed Highly Effective for 0 and Substantially Effective for 0 of the Effectiveness & Technical Compliance ratings.

U.S. firms do not view corruption as a significant barrier to investment in Uruguay, which is recognized as the least corrupt country in Latin America according to Transparency International's 2023 Corruption Perception Index. The country has robust anti-corruption laws, including a felony charge for accepting bribes, and an established framework to combat money laundering and terrorism financing. While the government agency responsible for addressing public sector corruption, JUTEP, has limited resources, Uruguay actively prosecutes corruption offenses, particularly in public procurement.

Uruguay offers a stable investment climate that treats foreign and national investments equally, with no prior authorization required for most investments. The country has been recognized for its transparency, ranking as the most transparent in Latin America in 2023, and has seen a resurgence in foreign direct investment due to tax incentives and a growing tech industry. Additionally, Uruguay's strategic location between Argentina and Brazil enhances its role as a distribution hub for U.S. goods in the region.

Uruguay offers a stable investment climate that treats foreign and national investments equally, allowing most investments without prior authorization. The country has been recognized for its transparency and low levels of corruption, ranking as the most transparent in Latin America in 2023. With a favorable legal framework, tax incentives, and a growing tech industry, Uruguay has attracted significant foreign direct investment, particularly in sectors like forestry, tourism, and IT services.