Chilean Government Urges Expedited Legislation to Combat Economic Crimes
In light of the escalating Hermosilla Case, the Chilean government has issued a call to the political community to hasten legislative projects designed to fortify the investigative capabilities of regulatory and fiscal bodies in economic crimes. At the core of this initiative lies the Economic Intelligence Against Crime law, which is presently under the scrutiny of the Senate’s Public Safety Commission led by Senator Felipe Kast of Evopoli.
Enhancing Economic Crime Investigation
The proposed legislation aims to establish an Economic Intelligence Subsystem to enhance the effective tracking of illicit money flows, improve institutional coordination, and bolster their powers. The Subsystem will comprise the Financial Analysis Unit, National Customs Service Intelligence Units, and the Internal Revenue Service (SII). These entities will facilitate the exchange of information and request records from other public bodies.
Measures against Suspicious Operations
Moreover, the bill introduces measures for the early detection and alerting of suspicious operations and crimes. These include money laundering, terrorism financing, and organized crime. Last discussed by the commission on October 17, the bill awaits a general vote. The design of the bill, however, has attracted criticism from Senator Kast, who highlighted that experts consider it insufficient.
Call for Urgency
Opposition Senator Paulina Vodanovic from the Socialist Party has echoed the government’s urgency call. She emphasized the significance of advancing the project to effectively track and combat illicit money flows and organized crime. The government argues that the bill will augment the pursuit of illicit money, providing intelligence, information, and traceability of suspicious operations.
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