Bolivia’s Efforts Against Money Laundering and Terrorist Financing: Progress and Challenges

Understanding Money Laundering and Terrorist Financing Risks in Bolivia

Bolivia has made significant strides in understanding its risks related to money laundering (ML) and terrorist financing (TF). The Anti-Money Laundering Entity (AEMP) has taken initial steps to comprehend its powers and obligations. However, there are still gaps in coordination between the Financial Intelligence Unit (FIU), other AML authorities, and intelligence services.

Key Components of Bolivia’s Anti-Money Laundering Efforts

Financial Intelligence

• The Bolivian FIU is a decentralized entity with autonomy in administrative, financial, legal, and technical management.
• It is responsible for investigating ML/TF cases and analyzing, processing, and disseminating information to prevent, detect, and pursue these crimes.

Investigations of Money Laundering and Terrorist Financing

• Bolivia has a system that generally allows for the detection, identification, and prosecution of ML.
• There is some coordination between agencies involved in this process.

Asset Forfeiture Measures

• 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.

Challenges and Areas for Improvement

Institutionalized Coordination

• Further development is needed to institutionalize cooperation between agencies involved in AML/CFT efforts.

Special Investigative Techniques

• Bolivia needs to address its legal limitations regarding special investigative techniques in ML and other predicate offense cases.

Asset Forfeiture Policies

• The country should expand its asset forfeiture measures to cover a broader range of predicate offenses, not just drug trafficking and human trafficking.