Panama: Bill on Forfeiture of Assets

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

Monday, November 25, 2013

"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.

"Between April 2012 and June 2013 alone, the Statistics Center of Public Prosecutions recorded $1.3 million apprehended by the prosecutor specializing in organized crime," noted an article in

The draft includes 60 articles that address topics such as the definition of forfeiture and its retroactivity, "which does not include a deadline, the rights of the affected and the creation of a fund of seized assests (FABEDO) which would be administered by the Ministry of Economy and Finance. "

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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: New Law on Prevention of Money Laundering

December 2014

A bill which is to be submitted to the National Assembly in February establishes an obligation to report suspicious activities which are not specifically financial.

This initiative is part of the package agreed with the Financial Action Task Force (FATF) to strengthen legislation against money laundering and exit so called "greylists". It is expected that an updated legal structure will be in place by June 2015.

El Salvador Approves Forfeiture Act

November 2013

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

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.

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