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57 Crime L. & Soc. Change 1 (2012)

handle is hein.journals/crmlsc57 and id is 1 raw text is: Crime Law Soc Change (2012) 57:1-14 DOI 10.1007/s10611-011-9331-4 Can AML policies succeed in Colombia? Francisco E. Thoumi - Marcela Anzola Published online: 27 October 2011 © Springer Science+Business Media B.V 2011 Introduction Anti asset and money laundering (AML) policies and instruments have been predicated as a principle weapon against organized crime and drug trafficking. AML has been deemed increasingly necessary as drug trafficking and other illegal economic activities and organized crime have grown in the world and have developed strong links with terrorist actions. Colombia has been an AML pioneer and has developed one of the world's most sophisticated and comprehensive AML legislation. Colombia is signatory of the UN conventions and international arrangements that seek to combat drug trafficking and terrorism. The country has adopted the Financial Action Task Force (FATF) 40+9 recommendations against asset and money laundering and has been an active member of the South American Financial Action Task Force (GAFISUD), the Latin American Banking Federation (FELABAN), and the Andean Community, organ- izations that have facilitated the implementation of international AML guidelines and policies.1 AML legislation was originally formulated against assets and moneys generated by the illegal drug industry. Colombia pioneered an expansion of AML norms to cover moneys and assets originating from extortions, kidnap- pings, corruption and other revenues of organized crime. Another hard hand An example of this was provided by Interior and Justice Minister German Vargas-Lleras speaking to the EU in Brussels on September 14, 2011 who proudly asserted that the efforts of the Colombian government and state to end this crime were highlighted in the last evaluation made by the South American Financial Action Task Force (GAFISUD) that put Colombia in the first place among the countries that fight against this scourge http://www.mij.gov.co/Ministerio/NewsDetail/1076/1/ VargasLlerasrevelaenEuropaqueenColombiaselavanl6billonesdepesosalano F. E. Thoumi (E) Fundaci6n Raz6n Pnblica, Bogota, Colombia e-mail: fthoumi@gmail.com M. Anzola Instituto Colombiano de Derecho Global, Bogota, Colombia 4L Springer

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