The Chamber of Deputies and the Senate passed the Anti-Money Laundering/Combating the Financing of Terrorism Bill on Wednesday, 31 May 2017. The bill will replace Anti-Money Laundering Law 72-02.
The deputies removed cooperatives from the supervision of the Superintendence of Banks, but reinstated betting and lottery shops. The cooperatives will continue under the supervision of the Cooperative Institute for Development and Credit (IDECOOP), while betting and lottery shops will be under Superintendence of Banks oversight.
Minister of Hacienda Donald Guerrero had visited the Chamber of Deputies on 31 May 2017, for face to face talks with legislators about the gambling and cooperative issues that had delayed the passing of the Anti-Money Laundering/Combating the Financing of Terrorism Bill. Guerrero focused on the importance of the bill and its timely approval.
The bill was fast-tracked through the Senate on the same day. The bill now moves to the Executive Branch for signing and publication.
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Diario Libre
Noticias SIN
1 June 2017
