Uruguay Against Money Laundering
By Dialogo May 16, 2011In Uruguay, the government is carrying out an active policy against money laundering, where activities such as drug trafficking and terrorism are behind it.
In the country, around ninety people face charges for this offense and around two hundred reports of suspicious activity are filed each year. The majority of cases are dismissed.
The applicable regulations have expanded the list of organizations and individuals required to report suspicious activity. Banks file the most reports, but casinos, notaries, antiques dealers, auctioneers, and administrators of free-trade zones are also required to do so.
Internally, an agreement was signed that will allow the Central Bank to have access to the database of all the country’s taxpayers and adjust its monitoring accordingly.
At the same time, the director of the General Tax Directorate, the tax-collecting agency, Pablo Ferreri, announced that work is underway on opening an international office to investigate cases of money laundering reported from abroad.
The government has already defined the chief lines of work against money laundering that it will emphasize this year, and property investigation is being prioritized, in order to locate assets belonging to individuals who commit these offenses.
For this purpose, U.S. Treasury Department officials were in Uruguay giving courses on property investigation techniques.