HomeNewsBriefBolivia to Toughen Money Laundering Laws
BRIEF

Bolivia to Toughen Money Laundering Laws

BOLIVIA / 16 JUN 2011 BY TUULA PERRY EN

Bolivia plans to strengthen sanctions against financial insitutions that fail to report suspicious transactions, which could signal money laundering, to the authorities.

Finance Minister Luis Arce annouced the scheme and said that the penalties would range from fines to the suspension of operating licences.

There will also be personal penalties for individuals involved in failures to report such transactions.

The criminal code currently lacks sanctions against institutions and individuals which turn a blind eye to laundering. This move will bring Bolivia into line with international standards, according to the government.

The government estimated recently that drug trafficking in Bolivia has revenues of between $300 million and $700 million a year.

share icon icon icon

Was this content helpful?

We want to sustain Latin America’s largest organized crime database, but in order to do so, we need resources.

DONATE

What are your thoughts? Click here to send InSight Crime your comments.

We encourage readers to copy and distribute our work for non-commercial purposes, with attribution to InSight Crime in the byline and links to the original at both the top and bottom of the article. Check the Creative Commons website for more details of how to share our work, and please send us an email if you use an article.

Was this content helpful?

We want to sustain Latin America’s largest organized crime database, but in order to do so, we need resources.

DONATE

Related Content

ARGENTINA / 7 MAR 2022

Paraguay has launched the biggest operation against cocaine trafficking and money laundering in its history, unleashing a scandal that has…

ELITES AND CRIME / 7 APR 2021

Venezuela is increasingly turning to the cryptocurrency Bitcoin, raising questions about its possible use in laundering money and evading US…

BOLIVIA / 9 AUG 2022

Politicians are pushing for the Chilean government to declare a state of emergency in the northern regions including Tarapacá…

About InSight Crime

LA ORGANIZACIÓN

Extensive Coverage of our Chronicles of a Cartel Bodyguard

23 SEP 2022

Our recent investigation, A Cartel Bodyguard in Mexico’s 'Hot Land', has received extensive media coverage.

THE ORGANIZATION

InSight Crime, American University Host Illegal Fishing Panel

19 SEP 2022

InSight Crime and the Center for Latin American & Latino Studies (CLALS) at American University discussed the findings of a joint investigation on IUU fishing at a September 9 conference.

THE ORGANIZATION

Impact on the Media Landscape

9 SEP 2022

InSight Crime’s first investigation on the Dominican Republic made an immediate impact on the Dominican media landscape, with major news outlets republishing and reprinting our findings, including in …

THE ORGANIZATION

InSight Crime Sharpens Its Skills

2 SEP 2022

Last week, the InSight Crime team gathered for our annual retreat in Colombia, where we discussed our vision and strategy for the next 12 months.  During the week, we also learned how to…

THE ORGANIZATION

Colombia’s Fragile Path to Peace Begins to Take Shape

26 AUG 2022

InSight Crime is charting the progress of President Gustavo Petro’s agenda as he looks to revolutionize Colombia’s security policy, opening dialogue with guerrillas, reforming the military and police, and…