In July of this year, the Financial Investigation Unit (UIF), issued the National Strategy Bill against the Legitimization of Illicit Gains and the Financing of Terrorism, which gives unrestricted powers to the Financial Investigation Unit (UIF) to investigate natural and legal persons.
The new bill grants unrestricted powers to the UIF to access communications, bank accounts, and Real Estate Rights information, among others. Initially, the bill allows the UIF to carry out financial and patrimonial investigations to the individuals who are linked to the subjects on which a Suspicious Transaction Report (STR) or a request from the competent authority has been received.
However, further on, the regulation provides that a special regulation must be drafted to empower the UIF to initiate these investigations ex officio, without the need of an STR or a request from the competent authority. In addition,, another point of the annex to this Bill proposes an amendment of the Criminal Code to incorporate special investigation techniques, including the use of undercover agents, deferred arrests and even consulting the Constitutional Court on the use of wiretapping techniques.
The dilemma arises from the break between the respect for privacy and the right to carry out investigations by the competent authorities, under the premise of fighting against the Legitimization of Illicit Gains and the Financing of Terrorism, by having access to the most valuable capital that individuals have, their data.