Uruguay Country Summary
Sanctions
Low Concern
FATF AML Deficient List
Low Concern
Terrorism
Medium Concern
Corruption
Low Concern
US State ML Assessment
Medium Concern
Criminal Markets (GI Index)
Medium Concern
EU Tax Blacklist
Low Concern
Offshore Finance Center
Low Concern
Please note that although the below Summary will give a general outline of the AML risks associated with the jurisdiction, if you are a Regulated entity then you may need to demonstrate that your Jurisdictional AML risk assessment has included a full assessment of the risk elements that have been identified as underpinning overall Country AML risk. To satisfy these requirements, we would recommend that you use our Subscription area.
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Anti Money Laundering
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.
Sanctions
There are no international sanctions currently in force against this country
Criminality
Rating |
0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | 76 |
| World Bank: Control of Corruption Percentile Rank | 92 |
U.S. firms do not view corruption as a significant barrier to investment in Uruguay, which is recognized for its low levels of perceived corruption and strong legal frameworks against bribery and money laundering. While the government has established agencies to combat corruption and promote transparency, challenges remain, particularly in resource allocation and political party financing. Uruguay faces various criminal activities, including human trafficking and drug transit, but maintains a relatively trustworthy police force and strong institutional governance.
Economy
Uruguay offers a stable investment climate that treats foreign and national investments equally, with no significant barriers to foreign investment. The country has been recognized for its transparency and democratic stability, ranking as the most transparent in Latin America in 2023. Despite fluctuations in investment levels due to global commodity trends, recent tax incentives and a growing tech industry have contributed to a resurgence in foreign direct investment.
Uruguay offers a stable investment climate that treats foreign and national investments equally, allowing most investments without prior authorization and enabling free capital and profit transfers. The country has been recognized for its transparency, ranking as the most transparent in Latin America in 2023, and has a favorable outlook from credit rating agencies. Additionally, a significant majority of foreign investors express satisfaction with the investment climate, valuing the macroeconomic stability, legal security, and tax incentives provided.
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- Risk Analysis
- Corruption
- Economy
- Sanctions
- Narcotics
- Executive Summaries
- Investment Climates
- FATF Status
- Compliance
- Key Findings