Statutory Law Nº The Congress of the Republic of Peru has enacted the STATUTORY CRIMINAL LAW AGAINST ASSET LAUNDERING

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1 OFFICIAL GAZETTE EL PERUANO STATUTORY REGULATIONS Page Lima, Thursday, June 27, Statutory Law Nº The President of the Republic THEREFORE: The Congress of the Republic of Peru has enacted the following law: THE CONGRESS OF THE REPUBLIC: Has enacted the following law: STATUTORY CRIMINAL LAW AGAINST ASSET LAUNDERING Section 1: Conversions and transfers Whoever converts or transfers money, property, instruments, or profits, knowing or suspecting their unlawful origin, with the intent to prevent the identification of their origin, their seizure or forfeiture, shall be punished by imprisonment for not less than eight (8) and not more than fifteen (15) 1

2 years and by a fine of one hundred and twenty to three hundred fifty (350) days-fine. Section 2: Concealment and Possession Whoever acquires, uses, keeps, safeguards, receives, conceals or possesses money, property, instruments or profits, knowing or suspecting their unlawful origin, with the intention to prevent the identification of their origin, their seizure or forfeiture shall be punished by imprisonment for not less than eight (8) and not more than fifteen (15) years and by a fine of one hundred twenty (120) to three hundred (300) days-fine. Section 3: Aggravating circumstances The penalty shall be imprisonment for not less than ten (10) and not more than twenty (20) years and a fine of three hundred fifty (350) to seven hundred (700) days-fine when: a) The person uses or takes advantage of his position as a public official, real estate agent, financial broker, bank agent or stockbroker. 2

3 b) The person commits such a crime as part of a criminal organization. The penalty shall be imprisonment for not less than twenty (20) years twenty (20) when the conversion or transfer involves money, property, instruments or profits obtained as a result of illegal drug trafficking, terrorism or narco-terrorism. Section 4: Failure to report suspicious operations or transactions Whoever fails to comply his functional or professional duties, by not reporting to the competent authority the suspicious operations or transactions he may have detected pursuant to the relevant laws and regulations shall be punished by imprisonment for not less than three (3) and not more than six (6) years, and by a fine of one hundred and twenty (120) to two hundred and fifty (250) days-fine, and by disqualification of six (6) years pursuant to paragraph 1), 2) and 4) of Section 36 of the Criminal Code. Section 5: Investigative regulations 3

4 Bank, tax and stock-exchange secrecy may be lifted in order to investigate the crimes provided for in this law upon the order of a court authority or upon the request of the Attorney General. The information obtained thereby shall not be used for purposes other than those which gave rise to this investigation. Section 6: Common Provisions The knowledge or suspicion a person may have of the unlawful origin as referred hereto may be inferred from the circumstantial evidence available in every particular case. The unlawful origin of the crimes considered in this law, which is to be known or suspected by a person, is referred to unlawful acts provided for in the criminal code such as illegal drug trafficking, crimes against the public administration, kidnapping, pandering, child trafficking, tax fraud, customs violations and other proceeds-generating crimes, except for those acts provided for in Section 194 of the Criminal Code. 4

5 In the case of crimes under this law, the unlawful activities generating money, property, instruments or profits are not required to be under investigation, prosecution or to have a sentence passed. Section 7: Prison benefit Prohibition Convicts who have been sentenced to crimes provided for in the last paragraph of Section 3 of this Law shall not have access to apply for prison benefits to reduce the prison term to be served as a result of working or educational activities performed, semiparole or parole granted after having served 2/3 or a half of the prison term, respectively. Section 8: Repealing Provision Sections 296-A and 296-B of the Criminal Code are hereby repealed. Let it be known to the President of the Republic for its subsequent promulgation. Given in Lima, on the twentieth day of June, CARLOS FERRERO, President of the Congress 5

6 HENRY PEASE GARCIA, First Vice-President of the Congress To the Constitutional President of the Republic THEREFORE: It is so ordered and be it known. Given at the House of Government, in Lima, this 22 nd day of June, ALEJANDRO TOLEDO, Constitutional President of the Republic of Peru FERNANDO OLIVERA VEGA, Minister of Justice