The new Organic Law on Money Laundering and Crime Financing
Prevention, Detection and Eradication1 has brought about
important changes with respect to the institutional regime on money
laundering and terrorism financing. The National Council
against Money Laundering (the "Council") has been
substituted – as regulator – with the Monetary and
Financial Regulation and Policy Board (the "Board"),
which has been given powers somehow different from those of its
predecessor, and the Financial Analysis Unit, now designated as the
Financial and Economic Analysis Unit ("UAFE"), has
greater autonomy and new powers.
The Board will be the highest body to control, supervise and
regulate matters relating to money laundering and terrorism
financing. The Board includes the Ministers for Economic Policy,
Production, and Public Finances, the head for State Planning, and a
delegate from the President of the Republic. Therefore, it is
expected that the new money laundering prevention
