The Financial System Supervisory Authority of Bolivia (ASFI) issued a clarification on a criminal complaint it filed on 11 March 2025 against a citizen for disseminating audiovisual content on TikTok making alarmist statements about the safety of banks in Bolivia and referring to specific financial institutions. ASFI stated the complaint was submitted under Article 491 of Law No. 393 (Financial Services Law) in relation to the dissemination of false information. It highlighted that generating or spreading false, biased or malicious information that could undermine confidence in the National Financial System may constitute a financial crime under Article 363 quater(f) of the Penal Code when it induces or triggers mass deposit withdrawals and damages the image or stability of the system, with prison sentences of five to 10 years. ASFI added it is taking actions to safeguard public savings and urged the public to rely on official sources and avoid sharing content without technical or legal support.
Financial System Supervisory Authority of Bolivia 2025-07-21
Bolivia's Financial System Supervisory Authority clarifies criminal complaint over TikTok claims alleging risks to banks
The Financial System Supervisory Authority of Bolivia (ASFI) clarified its criminal complaint against a citizen for spreading alarmist content on TikTok about bank safety. Filed under Article 491 of Law No. 393, the complaint addresses false information that could undermine confidence in the National Financial System, potentially leading to mass deposit withdrawals. ASFI emphasized safeguarding public savings and urged reliance on official sources.