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Economy & Business - November 2021

BOLIVIA: Money laundering bill withdrawn following protests

Bolivia’s minister of the presidency, María Nela Prada, announced on 14 October that the government would be withdrawing a bill designed to strengthen the powers of its financial investigations unit (UIF) to prevent money laundering. The bill had been passed by the chamber of deputies on 17 September but was withdrawn amid major protests before the senate could vote on it. Prada asserted that the bill had been designed to comply with the recommendations of the Financial Action Task Force of Latin America (Gafilat), whose stated aim is to combat money laundering and the financing of terrorism across the region. However, the opposition and many trade unions have slammed the abandoned legislation as an assault on privacy and individual freedoms that would have opened the door to politicised prosecutions.

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