Chile's Ministry of Finance reported that lawmakers began article-by-article consideration of a bill to create an Economic Intelligence Subsystem and introduce prevention and early-warning measures linked to organised crime, with several provisions approved unanimously. The bill aims to follow money trails linked to money laundering, terrorism financing and other organised-crime-related offences through tools including data analysis, operational traceability, expanded reporting obligations and interoperability between Customs, the Internal Revenue Service and the Financial Analysis Unit (UAF). Among the provisions approved, changes to the rules for collecting fines imposed by the Financial Market Commission (CMF) would shift collection to the General Treasury of the Republic using the judicial collection procedure in the Tax Code, replacing the current requirement for the CMF to sue offenders directly, and would extend the collection period from one to three years. A separate provision would require the CMF to report each March to the Senate and Chamber of Deputies finance committees on its use of powers to access bank-operation information subject to secrecy or reserve, including how often the power was used, how many individuals’ data were accessed, and how many were sanctioned in procedures where the power was exercised. Transitional provisions approved include aligning the commencement of new fit and proper-related amendments to the Securities Market Law with the entry into force of related changes made by the Fintec Law, setting a 180-day deadline after publication for issuing regulations on substance-use controls for intelligence officials in the subsystem, and limiting the application of a new bank record retention period of ten years (up from six) to records whose retention period has not yet expired when the law enters into force. The bill is in its second legislative stage and will continue through article-by-article votes; if enacted, the implementing regulation on substance-use controls must be issued within 180 days of publication in the Official Gazette.
Ministry of Finance (Chile) 2025-07-31
Chile's Ministry of Finance reports parliamentary vote advancing Economic Intelligence Subsystem bill and approving CMF fine collection and bank data access reporting rules
Chile's Ministry of Finance announced lawmakers are reviewing a bill to establish an Economic Intelligence Subsystem to combat organized crime, with several provisions already approved. Key measures include enhanced data analysis, operational traceability, and expanded reporting obligations, alongside changes to fine collection procedures and reporting requirements for the Financial Market Commission. The bill is in its second legislative stage, with further article-by-article votes pending.