Since 2023, the Chilean Congress has been discussing a bill that creates the Economic Intelligence Subsystem, which would include the Financial Analysis Unit (UAF), the Internal Revenue Service (SII), and the National Customs Service (SNA). The initiative aims to strengthen the state's capacity to prosecute corruption-related crimes.
Key provisions of the proposed bill
As part of the bill’s second constitutional review in the Chamber of Deputies, the Ministry of Finance reintroduced a provision that would allow the UAF to request information protected by banking secrecy without prior judicial authorization.
The proposed amendment grants the UAF direct access to information protected by bank secrecy, but only in cases related to Suspicious Transaction Reports that refer to a bank, a public official, or a legal entity. The objective is to expedite investigations related to money laundering and organized crime, while also reducing the workload of the judiciary. According to the Ministry, this measure aligns with international standards. Among the 18 member countries that comprise the Financial Action Task Force of Latin America, Chile is the only one that still requires prior judicial authorization for these types of requests.
Debate over the amendment
It should be noted that this proposal has not been exempt from questioning. In fact, it was rejected during the first constitutional procedure in the Senate, due to concerns regarding its impact on individual guarantees, the protection of privacy, and due process.
Next steps
While the Congress maintains that this exceptional power seeks to strengthen efforts against organized crime, its possible approval raises questions about its compatibility with the rule of law and the protection of constitutional guarantees. The debate centers on how to balance investigative efficiency with the protection of fundamental rights. The bill’s outcome could set an important precedent for future criminal prosecution and prevention efforts.
If approved by the Chamber of Deputies, the Senate will reconsider whether to incorporate this power into the legal framework of the Economic Intelligence Subsystem.
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