Financial Crime World

Here’s the rewritten article in Markdown format:

Peru’s Fight Against Financial Crimes: Are New Measures Enough?

The Peruvian government recently announced plans to bolster its Financial Intelligence Unit (FIU) to combat money laundering and crimes related to terrorism. The agency will now have more power to request judges lift bank and tax secrecy provisions when necessary, and broader authority to supervise individuals and organizations such as notaries, credit unions, and travel agencies.

The Scale of the Problem

But how big is Peru’s problem with money laundering? According to ASBANC, between January 2007 and March 2016 approximately $13 billion in assets from illicit drug trafficking, illegal mining, and crimes against public administrations were laundered. This amounts to a staggering 42% of the total.

Expert Opinion

Fernando Castañeda, partner at Diaz, Reus & Targ LLP, Lima Office - Aramburú Castañeda Boero Abogados, believes that while the new measures will improve results, they are not enough on their own. “The expansion of powers described and the creation of the Centralized Organization for the Prevention of Money Laundering and Terrorist Financing can improve on the results of the past,” he says.

Promoting Formalization and State Presence

However, Castañeda stresses that it is also necessary to promote the formalization of commercial transactions in Peru, as well as the presence of the state in areas where informal mining is developed and drugs are produced and marketed. “Only cooperation between Peru’s executive, legislative, and judicial branches of government in eradicating corruption, money laundering, and terrorist financing will produce real changes,” he concludes.

The Ongoing Battle

It remains to be seen whether these new measures will be enough to effectively combat financial crime in Peru. One thing is clear: the fight against financial crimes is a complex and ongoing battle that requires cooperation and commitment from all levels of government.

Key Points

  • The Peruvian government has bolstered its Financial Intelligence Unit (FIU) to combat money laundering and crimes related to terrorism.
  • The FIU will now have more power to request judges lift bank and tax secrecy provisions when necessary, and broader authority to supervise individuals and organizations.
  • Between January 2007 and March 2016, approximately $13 billion in assets from illicit drug trafficking, illegal mining, and crimes against public administrations were laundered.
  • Promoting formalization of commercial transactions and state presence in areas where informal mining is developed are crucial steps towards eradicating corruption, money laundering, and terrorist financing.