Financial Crime World

Title: Bolivian Delegation Meets Spanish Law Enforcement Agencies to Bolster Financial Crime Prevention in Bolivia

Madrid, Spain: Knowledge Exchange on Money Laundering Prevention and Investigation

A Bolivian delegation, comprised of high-ranking officials from the Bolivian Police and the Financial Investigation Unit specializing in Money Laundering Prevention and Investigation, recently visited Spain to enhance cooperation against drug trafficking and related financial crimes. This European Union (EU) and Agencia Española de Cooperación Internacional para el Desarrollo (AECID) funded project, managed by the Spanish Foundation for InternationalCooperation and Development (FIIAPP), facilitated the exchange of knowledge on money laundering strategies and effective financial crime prevention mechanisms.

Institutional Visits and Insights

During their stay in Spain, the Bolivian officials were granted access to institutions involved in asset laundering investigations:

  1. National Police Force
  2. Civil Guard
  3. Customs Surveillance
  4. National Drug Plan (PNSD)
  5. Terrorism and Organized Crime Intelligence Centre (CITCO)
  6. Executive Service of the Commission for the Prevention of Money Laundering and Monetary Offences (SEPBLAC)

At various meetings, the Bolivian officials gained insight into each institution’s responsibilities and functions, learning about methods for data collection, financial intelligence applications, and collaborative efforts between various law enforcement agencies to address financial crimes.

Key Takeaways from the Engagements

Some of the essential topics discussed during these engagements included:

  • Information exchange and cooperation between national and international actors
  • The legal process for different types of asset laundering
  • Asset management, recovery, and confiscation linked to drug trafficking
  • Preventing money laundering through continuous risk assessment and information flow

Collaborative Opportunities and Agreements

A result of these engagements was the establishment of tighter relations between SEPBLAC Spain and the Bolivian Financial Investigation Unit (UIF). Executive directors of both organizations have agreed to explore future opportunities for collaboration and assistance.

Moreover, the Spanish Notaries Association and the UIF will sign cooperation agreements. This visit builds on the FIIAPP initiative to bolster Bolivia’s public policy by providing ongoing training, establishing investigation manuals and standard protocols, and initiating a project to create a Financial Intelligence Centre.

Strengthening Ties between Spain and Bolivia

This project significantly contributes to forging stronger ties between Spain and Bolivia as they continue their mission to counteract financial crimes, creating a safer and more secure future for citizens in both nations.