Financial Crime World

Law Regulating Investigations and Financial Regulations in San Marino

Introduction

This legislative text outlines various provisions related to investigations and financial regulations in the country of San Marino. The law aims to strengthen investigations and financial regulations, particularly in connection with money laundering and other serious crimes.

Special Investigation Provisions

Undercover Operations

  • Article 15 allows for special agents to conduct undercover operations and simulate purchasing goods or services as part of an investigation into certain crimes, such as money laundering.
  • This provision enables law enforcement agencies to gather evidence and prevent financial crimes more effectively.

Interception of Communications

  • The Congress of State is required to submit a draft law regulating the interception of telecommunications within 12 months of the law’s entry into force.
  • This provision ensures that the interception of communications is carried out in accordance with international standards and safeguards.

Financial Investigations

Blocking or Freezing Funds

  • Article 16 outlines procedures for blocking or freezing funds and assets in connection with serious crimes, such as money laundering.
  • This provision enables law enforcement agencies to prevent financial crimes by restricting access to illicit funds.

Cooperation between Authorities

  • The Supervisory Department of the Central Bank of San Marino may conduct financial investigations in cooperation with police forces, which shall report directly to the department.
  • This provision facilitates collaboration and coordination between different authorities to combat financial crimes more effectively.

Reporting Crimes

  • When the Supervisory Department identifies facts that might constitute a crime under this law or Article 207 of the Criminal Code, it shall report them to the Single Court.
  • This provision ensures that any evidence of criminal activity is promptly reported and investigated.

Repeal of Existing Laws and Entry into Force

Repeal of Existing Laws

  • Article 18 provides for the repeal of existing laws that are inconsistent with this new law.
  • This provision ensures that the new law supersedes any conflicting legislation.

Entry into Force

  • Article 19 sets out the date on which the new law comes into force.
  • This provision clarifies when the new law will take effect and when its provisions can be implemented.