Regulatory Alerts2018-08-13 | 031 2018 SGDB EXTAdded · Updated
Circular SGDB No. 031/2018: Procedure for Confiscation, Seizure, and Invalidation of Counterfeit Banknotes and Coins
The Central Bank of Bolivia mandates that Financial Intermediation Entities (FIEs) must immediately report detected counterfeit currency to their superiors, invalidate banknotes by stamping "FALSO" or coins with an indelible "F" in the holder's presence, and execute a Confiscation and Seizure Act. FIEs are required to submit documentary evidence to the Public Prosecutor's Office or the Special Force Against Crime (FELCC) within three business days, while both FIEs and FELCC must transmit copies of these acts and the physical counterfeit items to the Central Bank every three weeks for statistical and laboratory purposes. This circular supersedes previous administrative provisions, including Circular SGDB No. 032/2014, and becomes effective on August 8, 2018, throughout the Plurinational State of Bolivia.