On July 28th, the Legislature gave a second-reading approval for several legal reforms to criminalize terrorist financing and strengthen the fight against money laundering.
The initiative, which received the unanimous support of 46 legislators, amended the Law on narcotics, psychotropic substances, drugs of unauthorized use, related activities, money laundering and terrorism financing.
According to the director of the Costa Rican Drug Institute (ICD), Guillermo Araya, the approval would prevent Costa Rica from falling into the black list of countries that do not cooperate with the Financial Action Task Force (FATF) in the fight against terrorism.
The reforms were asked by the international organization and now Costa Rica will have to present a report on the actions it has taken to fight terrorism and money laundering on August 1st in Buenos Aires, Argentina.