The National Assembly has approved, in a second debate, on the afternoon of this February 8, the fourth urgent bill on economic matters sent by the president Daniel Noboatitled Organic Law for Savings and Monetization of Economic Resources for Financing the Fight against Corruption.
The new law, which has been approved unanimously with 129 votes of the 129 assembly members who registered to vote, will allow the extinction of ownership of assets linked to corruption when there is an enforceable sentence. But establishes three exceptions, so that, despite the absence of said sentence, the assets seized from alleged criminals can pass into the power of the State.
Exceptions:
- When the goods are property of organized crime groups, terrorist organizations y belligerent non-state actorsidentified by reasoned resolution of the Public and State Security Council, or that are described in the resolutions of the United Nations Security Council or in any other international instrument ratified by Ecuador;
- When there is a causal relationship between those assets with organized crime, terrorist organizations and belligerent non-state actors; and
- When it comes to flagrant crimes regarding property or assets whose ownership is property of one or more organized crime groups, terrorist organizations or belligerent non-state actors.
Using money from crime to fight it
Likewise, the creation, within the National Public Procurement Service, of an Anti-Money Laundering and Anti-Corruption Unit is established, which must report confidentially, in accordance with the regulations applicable for said purpose, to the Financial and Economic Analysis Unit (UAFE) unusual and unjustified operations and transactions of which you are aware.
The president of the Economic Regime and Tax Regime Commission, Nathaly Farinango (ADN) has explained that the law will allow the monetization of goods and assets that come from illicit acts to allocate them to projects and investment in social development, in the reconstruction of the social fabric, such as in rehabilitation centers for young people who have fallen into the addiction of drugs.
The possibility was also incorporated that the illegal mining machinery that is seized is used for road maintenance and state and local public works.
Any weapon, explosive or accessory used in flagrante delicto or whose importation, introduction into the country or possession is not authorized by the law and its regulations, will be seized, confiscated or confiscated and, prior to an expert opinion that determines the characteristics of this weapon, will be sent to the Armed Forces and the National Police according to the institutional needs to combat organized crime.
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