On June 18, the Uruguayan Government announced the launch of an action plan targeting money laundering and terrorist financing.
Among its objectives, the plan aims to harmonize the legal framework of anti-money-laundering policy, create a strategic information system about money laundering, strengthen the monitoring system, and apply anti-money-laundering measures in public-private partnerships.
In the area of criminal law targeting this offense, the plan is to reinforce mechanisms for investigating illicit assets, strengthen specialized courts and prosecutors, establish a program to protect witnesses and victims, and improve procedures for international law-enforcement cooperation.
The plan was developed within the framework of the Financial Action Task Force (FATF) and with the technical advice of the International Monetary Fund (IMF).
The Uruguayan Central Bank (BCU) receives around 220 reports of situations in which money laundering is suspected each year, which are analyzed and when necessary, turned over to law enforcement, the manager of the BCU Financial Analysis Information Unit, Daniel Espinosa, indicated.
Espinosa explained that, as in the rest of the world, the sectors most affected by money laundering in Uruguay are finance and real estate, and the Government will concentrate on those sectors as a priority in the next few years.