Act 1186 2008

Original Language Title: LEY 1186 de 2008

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1186 OF 2008

(April 14)

Official Journal No. 47.187 of 28 November 2008

CONGRESS OF THE REPUBLIC

By means of which the "Memorandum of Understanding between the Governments of the States of the Financial Action Group of South America against the Laundering of Assets (Gafisud)", signed in Cartagena de Indias on December 8, is approved. 2000, the "Amendment of the memorandum of understanding between the governments of the States of the Financial Action Group of South America against the Laundering of Assets (Gafisud)", signed in Santiago de Chile on 6 December 2001, and the " Amendment to the Memorandum of Understanding between the Governments of the States of the Financial Action Task Force South America against the Laundering of Assets (Gafisud) " signed in Brasilia on 21 July 2006.

Vigency Notes Summary

COLOMBIA CONGRESS

Having regard to the text of the "Memorandum of Understanding between the Governments of the States of the Financial Action Group of South America against the Laundering of Assets (Gafisud)", signed in Cartagena de Indias on 8 December 2000, the " Amendment of the Memorandum of Understanding between the governments of the States of the Financial Action Group of South America against the Laundering of Assets (Gafisud), signed in Santiago de Chile on 6 December 2001, and the " Amendment to the Memorandum of Understanding between the governments of the States of the Financial Action Group of South America against the Laundering of Assets (Gafisud) " signed in Brasilia on July 21, 2006, which to the letter says:

(To be transferred: photocopy of the full text of the International Instrument mentioned).

MEMORANDUM OF UNDERSTANDING BETWEEN GOVERNMENTS OF THE STATES OF SOUTH AMERICA ' S FINANCIAL ACTION GROUP AGAINST ASSET LAUNDERING (Gafisud)

PREAMBLE

Considering the threat posed by asset laundering activities, as well as the interest in protecting a secure and transparent financial economic system that cannot be used by criminal organizations.

Ratifying the commitment to preserve and maintain the social, economic and political stability of our region.

Considering the work done and the actions taken so far in the fight against the laundering of assets by the countries that are now meeting.

Recognizing the opportunity and benefits of accepting and implementing the anti-money laundering measures of the International Financial Action Task Force, as well as the support of its members and the international organizations dedicated to the protection of the international community against the threats of organized crime.

Assuming that international cooperation is crucial in the fight against asset laundering and reaffirming the commitment made in various fora to effectively implement the United Nations Convention Against Illicit Trafficking in 1988 Narcotic Drugs and Psychotropic Substances and the CICAD Model Regulations on Laundering Offenses related to Illicit Drug Trafficking and other Serious Crimes.

Following the commitment expressed at the February 2000 Cancun Meeting of Western Hemisphere Finance Ministers for the creation of a regional anti-money laundering action group.

Running the recommendation of the South American Presidents meeting, held in Brasilia, in September 2000.

Highlighting the benefit that the countries of the region and the international community are reporting on the establishment of mechanisms for the prevention and control of the laundering of assets.

The Signatory States of this Memorandum agree:

I. GOALS

a) Create and operationalize the Financial Action Task Force of South America against the laundering of assets (hereinafter Gafisud) under the conditions outlined in this Memorandum;

b) Recognize and implement the 40 Recommendations of the International Financial Action Task Force against Money Laundering and the recommendations and measures adopted by the Gafisud in the future.

II. MEMBERS

1. The signatory states of this Memorandum have the status of originating members.

2. Other States may be incorporated upon request for accession to this Memorandum and their admission to the Plenary Session.

III. Advisor MEMBER

1. The Inter-American Drug Abuse Control Commission (Cicad) integrates the Gafisud as an Advisory Member.

IV. OBSERVERS

1. Those States and organisations which have expressed their support for the objectives of the Gafisud and have been admitted as such by the plenary shall have this status.

2. In addition to supporting the objectives and activities of the Gafisud, observers will be able to provide technical assistance and financial support, in accordance with their rules and policies in this area, in order to achieve the objectives pursued.

3. The procedure for the admission of observers shall require the formal request of the President of the Gafisud by the State or organization.

V. STRUCTURE AND FUNCTION

1. The Gafisud is structured from the following organs:

I) The Board of Authorities

II) The House of Representatives

III) The Secretariat

2. The Council of Authorities is the supreme body of the Gafisud and shall be composed of a representative of each State exercising maximum responsibility for the fight against the laundering of assets. It shall meet when the plenary considers it appropriate and on occasions when it considers it necessary for the approval of cases or projects requiring a high degree of political-institutional support.

3. The plenary session is composed of the delegates appointed by each Member State. It shall meet at least twice a year and shall have as functions:

I) Rate, discuss, and, if applicable, approve all resolutions.

II) Approve the Action Program.

III) Approve the quote.

IV) Approve the annual report.

V) Control the execution of the approved Action Program.

VI) Designate the Executive Secretary, approve the structure and other functions of the Secretariat.

VII) Approve the procedure rules that are required.

VIII) Accept the addition of new members and observers.

4. Plenary meetings shall be governed by the following rules:

I) All Members, the Advisory Member and the Observers will participate in the meetings.

II) The Plenary Assembly shall determine those meetings to which Members may attend.

III) Only Members have the right to vote. The Advisory Member and the Observers will have a voice but no vote. Only members present have the right to vote.

5. The President of the Gafisud shall be elected by the Plenary, from among its members and as such shall exercise its representation. The exercise of the Presidency shall be extended for periods of one year, which may be extended. At the beginning of each period, the President shall submit to the Plenary Session the Programme of Action, setting out the objectives and lines of work of the Gafisud during his presidency.

6. The Executive Secretary will be an ideal person with a high technical profile. It shall be designated by the Plenary Session for certain extensions and shall exercise its position on a remunerated basis.

7. The Secretariat shall carry out the technical and administrative functions for the development of the activities of the Gafisud. They are functions of the Secretariat:

I) Prepare the annual activity report, budget, and work programs contained in the Program of Action.

II) To provide the Presidency and the plenary with regular reports of their activity.

III) Run the approved Action Program.

IV) Manage the approved budget.

V) Coordinate, collaborate, and facilitate mutual evaluations.

VI) Exercise technical representation and act as a nexus between the Gafisud and third countries and organizations involved in the fight against the laundering of assets and related matters.

VII) Attend the Council of Authorities, the Presidency and the Plenary in the development of their activities.

VIII) The others assigned to it by the plenary.

VI. DECISION MAKING MECHANISM

1. All the resolutions of the Council of Authorities and the full of Representatives shall be adopted by the consensus of the members, which shall be recorded by the Secretariat.

2. In cases of approval of reports linked to mutual evaluations, it will not be necessary to have the consensus of the State involved in the report to adopt a resolution on this.

VII. MUTUAL SELF-ASSESSMENTS AND ASSESSMENTS

1. Members agree to participate in a self-assessment programme, coordinated by the Secretariat.

2. Members agree to participate in a programme of mutual evaluations conducted in accordance with the mutual evaluation procedures approved by the plenary.

3. In any case, technical experts from three Members will participate in each mutual evaluation.

Within the team of evaluators, assistance from experts from countries and observer organisations may be requested, when the assessed Member considers it appropriate.

VIII. Financials

1. The activities of the Gafisud will be financed by the annual contributions of its members, the voluntary contributions of the observers and other additional sources. Members shall make their economic obligations effective when their internal legal order permits.

2. The expenses arising from the participation of each Member or Observer in the activities of the Gafisud, including participation in mutual evaluation processes, shall be attended by each of them.

3. The Presidency, with the support of the Secretariat, will submit to the plenary the consideration of projects and lines of work and their forms of financing.

IX. LANGUAGES

Official languages are Spanish and Portuguese.

X. AMENDMENT OF THE MEMORANDUM

The Memorandum of Understanding may be amended by the Council of Authorities on the proposal of the Gafisud plenary session.

XI. ENTRY INTO FORCE

This Memorandum of Understanding shall enter into force on the date it is signed by the States.

XII. RETIREMENT

The withdrawal of a Member or Observer shall be made effective upon receipt of the respective notification in the Secretariat.

Signed in the City of Cartagena de Indias on the eight days of December of the year two thousand, in a copy that makes faith and is deposited in the Secretariat of the Gafisud.

By the Government of the Republic of Argentina,

The Secretary of Programming for the Prevention of Drug Addiction and the Fight against Drug Trafficking,

LORENZO CORTESE.

By the Government of the Republic of Bolivia

Ambassador Extraordinary and Plenipotentiary in Colombia,

GUIDO RIVEROS FRANCK.

By the Government of the Federative Republic of Brazil,

The President of COAF,

ADRIENNE GIANNETTI NELSON DE SENNA.

By the Government of the Republic of Colombia,

The Minister of Justice and Law,

ROMULO GONZALEZ TRUJILLO.

By the Government of the Republic of Chile,

The Assistant Secretary of the Interior,

JORGE VIVES DIBARRART.

By the Government of the Republic of Ecuador,

The National Director of Information Processing Reserved,

XAVIER ARREGUI.

By the Government of the Republic of Paraguay,

The Minister of Industry and Commerce,

EUCLIDES ACEVEDO.

By the Government of the Republic of Peru,

The Head of International Cooperation of Contradrogas,

SERGIO KOSTRITSKY PEREIRA.

By the Government of the Eastern Republic of Uruguay,

The Minister of Economy and Finance,

ALBERTO BENSION.

By the OAS-CICAD,

The Deputy Executive Secretary,

ALBERTO HART.

AMENDMENT OF THE MEMORANDUM OF UNDERSTANDING BETWEEN THE GOVERNMENTS OF THE STATES. FROM SOUTH AMERICA ' S FINANCIAL ACTION GROUP AGAINST ASSET LAUNDERING (Gafisud)

The Council of Authorities of Gafisud, at its meeting of 6 December 2001 in Santiago de Chile, decides to amend the Memorandum of Understanding of Gafisud in its original wording contained in the text signed by the member countries in Cartagena from Indias, Colombia, on December 8, 2000.

The modification being operated is the introduction of a new letter (c) in Article 1 of the Memorandum of Understanding which reads as follows:

c) Establish measures for the prevention and elimination of terrorist financing, recognizing and implementing the eight recommendations of the International Financial Action Task Force against the laundering of assets and others that may be approved by Gafisud.

By the Government of the Republic of Argentina,

Mr. Jorge de la Rua,

Minister of Justice and Human Rights.

By the Government of the Republic of Bolivia,

Mr. Victor Marquez,

Consul of Bolivia in Santiago.

By the Government of the Republic of Brazil,

Mr. João Augusto de Medicis,

Ambassador.

By the Government of the Republic of Chile,

Mr. José Miguel Insulza,

Minister of the Interior.

By the Government of the Republic of Colombia,

Mr. Romulo Gonzalez Trujillo,

Minister of Justice and Law.

By the Government of the Republic of Paraguay,

Mr. Fernando Villalba,

Deputy Minister of Industry and Commerce.

By the Government of the Republic of Peru,

Mr. Jorge Colunge V.,

Ambassador.

By the Government of the Eastern Republic of Uruguay,

Mr. Leonardo Costa Franco,

Deputy Minister of the Presidency of the Republic.

By the Government of Ecuador,

No signature.

By Cicad-OEA,

Mr. Rafael Franzini Batlle.

August 4, 2006.

This is a faithful copy of the original.

Dr. Alejandro Montesdeoca Broquetas,

Executive Secretary Gafisud.

AMENDMENT OF THE MEMORANDUM OF UNDERSTANDING BETWEEN THE GOVERNMENTS OF THE STATES OF THE SOUTH AMERICAN FINANCIAL ACTION GROUP AGAINST THE LAUNDERING OF ASSETS (GAFISUD)

The Third Council of Authorities of Gafisud, at its meeting of 21 July 2006, in Brasilia, decides to amend the Memorandum of Understanding of Gafisud, as approved by the member countries in Santiago, Chile, on 6 December. 2001.

The modifications that are operated are as follows:

A) Amend Article V of the Memorandum of Understanding of the Financial Action Group of South America (Structure and Functions), numerals 3 and 4, which will be worded as follows:

3. The plenary session is composed of the delegates appointed by each Member State. It shall meet at least twice a year and shall have as functions:

I) Rate, discuss, and, if applicable, approve all resolutions.

II) Approve the Action Program.

III) Approve the quote.

IV) Approve the annual report.

V) Control the execution of the approved Action program.

VI) Designate the Executive Secretary, approve the structure and other functions of the Secretariat.

VII) Approve the procedure rules that are required.

VIII) Accept the addition of new members and observers.

IX) Resolve the suspension or unbind of the Group of members.

4. Plenary meetings shall be governed by the following rules:

I) All Members, the Advisory Member and the Observers will participate in the meetings.

II) The Plenary Assembly shall determine those meetings to which Members may attend.

III) Only Members have the right to vote. The Advisory Member and the Observers will have a voice but no vote. Only members present have the right to vote.

IV) The House of Representatives may decide to suspend the participation of a member in the decision-making of the Group in merit of the causes to be established by the regulation that the body dictates.

B) Amend Article VI of the Memorandum of Understanding of the Financial Action Group of South America (Decision-Making Mechanism) number 2, which will be worded as follows:

2. In cases of approval of reports linked to mutual evaluations or of approval of decisions to suspend participation in decision-making, suspension of membership or disengagement, it will not be necessary to count on the State consensus involved to take a decision on this.

C) Amend Article VIII of the Memorandum of Understanding of the Financial Action Group of South America (Financing) numeral 1, which will be worded as follows:

1. The activities of the Gafisud will be financed by the annual contributions of its members, the voluntary contributions of the observers and other additional sources. Members shall make their economic obligations effective. In the event that a repeated non-compliance in the payment of the agreed contributions is verified, the full House of Representatives may apply limiting sanctions for participation, suspension of membership, or untying of the Group of the debtor States, in accordance with the rules that this body will dictate.

By the Government of the Republic of Argentina,

Mr. Jorge A. Molina Arambarri,

Minister Embassy Argentina in Brazil.

By the Government of the Republic of Bolivia,

Mr. José Luis Pérez Ramírez,

Deputy Minister for Pensions and Financial Services, Ministry of Finance.

By the Government of the Republic of Brazil,

Mr. Paulo Marcio Neves Rodriguez,

COAF Executive Secretary, Ministry of Finance.

By the Government of the Republic of Chile,

Mr. Andres Velasco Branes,

Minister of Finance.

By the Government of the Republic of Colombia,

Mr. Mario Galofre Cano,

Ambassador, Colombian Embassy in Brazil.

By the Government of the Republic of Ecuador,

Mr. Fernando Mera Espinosa,

Attorney General of the State.

By the Government of the Republic of Paraguay,

Mr. Raul Vera Bogado,

Minister of Industry and Commerce.

By the Government of the Republic of Peru,

Mr. Carlos Hamann-Pastorino,

Chief Executive Officer Financial Intelligence Unit.

By the Government of the Eastern Republic of Uruguay,

Mr. Jorge Vasquez,

Prosecretary of the Presidency of the Republic.

August 4, 2006.

This is a faithful copy of the original.

Dr. Alejandro Montesdeoca Broquetas,

Executive Secretary Gafisud.

EXECUTIVE BRANCH OF PUBLIC POWER

REPUBLIC OF THE REPUBLIC

Bogotá, D. C., June 25, 2007

Authorized. Submit to the consideration of the honorable Congress of the Republic for the constitutional effects.

(Fdo.) ALVARO URIBE VELEZ The Minister of Foreign Affairs,

(Fdo.) Fernando Araujo Perdomo

DECRETA:

ARTICLE 1o. Approve the "Memorandum of Understanding between the Governments of the States of the Financial Action Group of South America against the Laundering of Assets (Gafisud)," signed in Cartagena de Indias on 8 August. December 2000, the "Amendment of the memorandum of understanding between the governments of the States of the Financial Action Group of South America against the Laundering of Assets (Gafisud)", signed in Santiago de Chile on 6 December 2001, and the Amendment to the Memorandum of Understanding between the Governments of the States of the Action Group Financial of South America against the Laundering of Assets (Gafisud) " signed in Brasilia on July 21, 2006.

Ir al inicio

ARTICLE 2o. In accordance with the provisions of Article 1 of Law 7ª of 1944, the " Memorandum of Understanding between the Governments of the States of the Financial Action Group of South America against the Lavado de Actives (Gafisud) ", signed in Cartagena de Indias on December 8, 2000, the" Amendment of the memorandum of understanding between the governments of the States of the Financial Action Group of South America against the Laundering of Assets (Gafisud) ", signed in Santiago de Chile on 6 December 2001, and the " Amendment to the Memorandum of Understanding between the governments of the States of the Financial Action Group of South America against the Laundering of Assets (Gafisud) " signed in Brasilia on 21 July 2006, which by article 1 of this law are approved, will force the country from the date on to improve the international link with respect to the same.

Ir al inicio

ARTICLE 3o. This law governs from the date of its publication.

The President of the honorable Senate of the Republic,

NANCY PATRICIA GUTIERREZ CASTANEDA.

The Secretary General of the honorable Senate of the Republic,

EMILIO RAMON OTERO DAJUD.

The President of the honorable House of Representatives,

OSCAR GROVE PALACIO.

The Secretary General (E.) of the honourable House of Representatives,

JESUS ALFONSO RODRIGUEZ CAMARGO.

REPUBLIC OF COLOMBIA NATIONAL GOVERNMENT

Communicate and comply.

Execute, subject to revision of the Constitutional Court, pursuant to article 241-10 of the Political Constitution.

Dada in Bogotá, D. C., on April 14, 2008.

ALVARO URIBE VELEZ

The Minister of the Interior and Justice,

CARLOS HOLGUIN SARDI.

The Deputy Minister of Foreign Affairs, Charged with the Duties of the Foreign Minister's Office,

CAMILO REYES RODRIGUEZ.

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