The Bolivian government is in under the focus of the Latin American Financial Action Task Force Commission (Gafilat, for its acronym in Spanish), which will arrive in the country this April to evaluate money laundering cases. The Minister of Justice, Ivan Lima, announced that an evaluation will be carried out on the status of the ongoing criminal procedures related to the legitimization of illicit profits. He also pointed out that it is regrettable that out of the 628 processes files, only 18 have been sentenced and 9 of them are absolutory.
Gafilat's evaluation consists of an exhaustive review of the Bolivian systems and mechanisms for the prevention and combat of money laundering and financing of terrorism. The Bolivian government is obliged to take effective measures to prevent these illegal activities from continuing to proliferate in the country and, in accordance with the minister Lima's statements, has decided to take preventive measures by instructing the Vice Minister of Transparency to appear in all proceedings initiated for the laundering of illicit proceeds. In addition, a team of 20 lawyers has been formed to closely follow up on cases related to the laundering of illicit profits. These measures are crucial to ensure transparency and the fight against corruption in the country.
It is important to note that money laundering is a transnational crime that involves the transfer of goods and funds from illegal activities through international financial networks. In the case of Bolivia, these criminal activities are reportedly related to drug trafficking, illegal mining, corruption and smuggling.
These illegal activities not only have an impact on the Bolivian economy and society but may also have implications for security and stability in the region. For this reason, it is essential that Bolivia strengthens its capacity to prevent and combat money laundering and terrorist financing.
Among the measures that the Bolivian government can take to prevent money laundering are improving the regulation and supervision of the financial sector, identifying and monitoring suspicious transactions, international cooperation and strengthening the capacities of the institutions in charge of combating money laundering.
It is important to note that Gafilat is an intergovernmental organization created to prevent and combat money laundering, financing of terrorism and financing of weapons of mass destruction through cooperation mechanisms among its 18 member countries, since the prevention of money laundering requires cooperation and coordination among the countries of the region and at an international level.
Bolivia, as one of its member countries, has the responsibility to comply with international standards and take concrete measures to combat these illegal activities and now has the opportunity to strengthen its participation in this organization and work together with other member countries to prevent and combat money laundering and the financing of terrorism.