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Global AML Watchdog Expels Bolivia for Failing to Criminalize Terrorist Financing

By Carla Valero

Translated from Lavadodinero.com After repeated warnings that it should treat the financing of terrorism as a crime, Bolivia was suspended from the Egmont Group, a global association of financial intelligence units (FIUs) that coordinates AML and counter-terrorism financing efforts. The Egmont Group removed Bolivia from the list of member FIUs published on its Web site in July. People close to Bolivia's FIU confirmed the expulsion but said it hadn't yet received the official notice from the Egmont Group. The suspension might be related to Bolivia's failure to identify the financing of terrorism as a crime in its regulations, the people...

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