Members of the Legislative Assembly approved last night in the first debate a bill that criminalizes the financing of terrorism. It was an amendment to the Law on Narcotics, Psychotropic Substances, Drugs of Unauthorized Use, Related Activities, Money-laundering, and Financing of Terrorism.
This amendment is to criminalize the financing of terrorism, in order to comply with international standards on organizations combating terrorism.
The date limit for the country to approve this initiative was the 15 of July, so that Costa Rica is not included in a gray list of non-cooperating countries, made by the Financial Action Task Force (FATF).
The initiative establishes that people who finance organizations or anyone linked to terrorism will have all assets frozen so that the United Nations Security Council or the FATF can communicate about the link of that person with terrorist groups.
Once the Ministry of Foreign Relations receives the information, they should notify immediately and simultaneously the Costa Rica Institute on Drugs (ICD) and the Ministry of the Public so that they can take the corresponding actions.
“This legislation adopted in the first debate will strengthen the international image of Costa Rica as a reliable country for doing business, and as one that has a robust legal framework for combating illicit activities,” said the Minister of the Presidency, Sergio Alfaro, in a press release.
The project will undergo a second debate on Thursday.