President Medina signed the Anti-Money Laundering Law/Laundering/Combating the Financing of Terrorism Bill on Wednesday, 31 May 2017. The bill replaces the Anti-Money Laundering Law 72-02.
The bill establishes a minimum 10 years in jail for asset laundering, in addition to doubling of the economic fines and authorizing the seizing of the assets purchased with illicit funds.
The law expands the scope of crimes to be penalized, adding those of forgery of pharmaceuticals, environmental crimes, child pornography, contract killing, piracy, violation of intellectual property.
The government now needs to publish the bill for it to become law.
Read more in Spanish:
DGII
DGII
5 June 2017
