Bolivia’s Efforts to Combat Money Laundering and International Cooperation

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Investigating Money Laundering

The Special Counternarcotics Force (FELCN) has been at the forefront of investigating money laundering in Bolivia, with a focus on financial analysis. In 2002, the FELCN carried out 87 investigations involving assets.

To enhance coordination and cooperation between agencies, the Office of the Attorney General, National Police, FELCN, and Financial Intelligence Unit (FIU) signed an interinstitutional agreement. This agreement aims to:

Facilitate joint investigations
Expedite data exchange between agencies
Obtain accurate information within the limits of current legislation

The agreement also established an interinstitutional operational working group, which meets monthly for coordination purposes.

International Cooperation

Bolivia’s international cooperation efforts are guided by the Código de Procedimiento Penal (Law 1970), which provides:

Mutual legal assistance on requests
Statistics on information exchange
Arrangements for coordinating seizures

Requests are transmitted by the Ministry of Foreign Affairs and Worship, subject to the Political Constitution of Bolivia and the Código Proc esal Penal.

Extradition

Bolivia’s ability to extradite for money laundering offenses is largely restricted by Article 3 of the Penal Code. However, in cases where no treaty exists, Bolivia can rely on:

The 1988 Vienna Convention as a basis for extradition (limited solely to laundering offenses stemming from illegal trafficking in controlled substances)

In the case of terrorism, extradition is only possible requiring dual criminality.

There is also an extradition treaty between Bolivia and the United States, which authorizes extradition for offenses punishable by sentences of more than one year.

There is no specific provision in Bolivian law for sharing confiscated goods with other countries.

Combating Financing Terrorism

Bolivia signed the “International Convention for the Suppression of the Financing of Terrorism” in January 2002. The convention requires countries to:

Identify, detect, secure, confiscate, or seize all funds used or allocated for terrorist purposes

While Bolivia has incorporated this convention into its domestic legislation, no regulation has been adopted to share funds derived from confiscations with other countries.

Conclusion

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Bolivia’s efforts to combat money laundering and international cooperation are ongoing. The country’s legal framework provides various mechanisms to facilitate coordination and cooperation between agencies, as well as international assistance in cases involving money laundering and terrorism.