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Bolivia’s Fight Against Money Laundering: A Comprehensive Overview

La Paz, Bolivia - As part of its efforts to combat money laundering and terrorist financing, Bolivia has implemented a robust legal framework that ensures the effective investigation, prosecution, and punishment of such crimes.

Legal Framework

According to Bolivia’s Procedural Penal Code (CPP), when any agency of the government believes it has evidence of a violation of a law, it must present its findings to the Office of the Attorney General. The investigation is then carried out by this office, starting with a decision from a judge.

Investigation and Prosecution

The judicial police plays a crucial role in investigating money laundering cases, including those related to drug trafficking and terrorism. The Special Counternarcotics Force (FELCN) is responsible for inquiries regarding controlled substances, while the Financial Intelligence Unit (FIU) provides support in analyzing financial transactions.

International Cooperation

Bolivia has signed an interinstitutional agreement with various government agencies to facilitate coordinated investigations and data exchange. This agreement aims to provide accurate information within the limits established by current legislation.

The country also participates in international cooperation on money laundering cases, following the Código de Procedimiento Penal (CPP) and bilateral or multilateral treaties. Bolivia has a treaty with the United States, which authorizes extradition for offenses punishable by sentences of more than one year.

Financing Terrorism

Bolivia signed the “International Convention for the Suppression of the Financing of Terrorism” in January 2002, requiring countries to adopt measures to identify, detect, secure, confiscate, or seize funds used or allocated for terrorist activities. While no regulation has been reported regarding sharing confiscated goods with other countries, Bolivia has incorporated United Nations Security Council Resolutions and General Assembly resolutions into its domestic legislation.

“Entrega Vigilada” (Supply for Enforcement Purposes)

The country’s legal framework also provides for the definition of “entrega vigilada” (supply for enforcement purposes), specifically in relation to illicit trafficking in controlled substances. However, Bolivia’s ability to extradite for money laundering offenses is largely restricted, requiring international treaties or reciprocity agreements.

Conclusion

Overall, Bolivia’s efforts to combat money laundering and terrorist financing demonstrate its commitment to upholding the rule of law and preventing the misuse of financial systems.