Bolivia’s Efforts Against Money Laundering and Terrorist Financing: An Assessment

Understanding the Risks

The Bolivian Institute for Private Companies (DIRNOPLU) has a basic understanding of money laundering (ML) and terrorist financing (TF) risks.
The Agency for the Supervision of Lawyers, Accountants, and Real Estate Agencies is still in its initial stages of understanding these risks.

Financial Intelligence Unit (FIU): Has a good understanding of ML/TF risks and is responsible for investigating cases and analyzing information to prevent and detect crimes.
National Customs: Understands the risks associated with ML/TF and works to prevent smuggling activities.
Bolivian Police: Recognizes the importance of addressing ML/TF risks, but requires additional training and resources to effectively combat these crimes.
Intelligence Services: Have a good understanding of ML/TF risks, but their role in combating these crimes is still developing.
Vice-Ministry for the Fight Against Smuggling: Recognizes the importance of addressing smuggling activities that can facilitate ML/TF.

Bolivia has made progress in coordinating Anti-Money Laundering (AML)/Combating the Financing of Terrorism (CFT) efforts through a regulatory and institutional framework.
However, there is still room for improvement in coordination between authorities, including the FIU and other agencies involved in addressing predicate offenses.

The Bolivian FIU has access to various databases and has signed inter-agency cooperation agreements to enhance its ability to investigate ML/TF cases.
The FIU is responsible for analyzing, processing, and disseminating information to prevent, detect, and pursue ML/TF crimes.

Bolivia has a system in place that generally allows for the detection, identification, and prosecution of ML.
However, coordination between agencies is not always institutionalized, which can hinder efforts to combat ML/TF.

The country has developed asset forfeiture measures within its AML/CFT policies, plans, and strategies related to ML prosecution.
However, these measures are still limited in volume and scope.

Bolivia has procedures for the extinction of ownership as a legal concept separate from the criminal action, but this is only applicable to cases of drug trafficking and human trafficking.