El Salvador Approves Forfeiture Act

The standard allows the state to seize assets related to illicit operations based on tax fraud, money laundering, drug trafficking or organized crime.

Friday, November 8, 2013

Salvadoran Congress also agreed to add the crimes of fraud along with those of public finances and corruption to the Special Law on Forfeiture and Management of Property of Illicit Origin or Destination.

The deputy Jackeline Rivera, "explained that the distribution (debated for weeks) of these goods has been established as follows: for the National Asset Management Commission (CONAB) which will be created with the implementation of this law, 15%, for The Ministry of Justice and Public Safety, 35%, for the Prosecutor General of the Republic, 35%, for the Ministry of National Defense, 10%, and the Attorney General's Office will get the 5%," noted an article in Laprensagráfica.com.

The passage of this law was one of the points that U.S. Congressman Patrick Leahy noted as a pending task to improve the investment climate in El Salvador, under the framework of approval for the Millennium Challenge II project.

More on this topic

Costa Rica: The New Law Against Money Laundering

May 2017

Once enacted, the newly approved law will force accountants, lawyers, realtors, and other professionals to report suspicious transactions made by their clients.

Bill 19.951 reforming the Law on Narcotic Drugs, Psychotropic Substances, Drugs of Unauthorized Use, Related Activities, Legalization of Capital and Financing of Terrorism was approved in a second debate by the Legislative Assembly.  

Organized Crime and Capital Growth

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In criminal proceedings declared as special because of their delinquent nature, such as organized crime in Costa Rica, demands can be made, by civil means, for explanations of capital increases on the part of natural or legal persons who may lose them if they are not able to prove the legality of their origin.


Law Against Money Laundering in Honduras

December 2014

Although two articles are still pending, the Special Law Against Money Laundering Crimes approved by congress establishes harsher penalties for money laundering.

From a statement issued by the National Congress of Honduras:

The National Congress in session on Thursday, after a third and final debate of Article 74 to 92 of the draft Special Law Against Money Laundering Crimes, now has only two articles pending for Honduras have a new law for the fight against public corruption and establishes harsher penalties for those found guilty of forms of money laundering and is linked with other legislation aimed at implementing anticorruption sanction methods.

Panama: Bill on Forfeiture of Assets

November 2013

A draft bill proposes that the state seize goods from money laundering and other illicit activities.

"The suggestion has been raised to create a law that relates to forfeitures, because there is so much income and assets being generated, but we do not know what to do with those assets" said Ana Belfon, from the Attorney General's Office.

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