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.

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