Regulatory Alerts2014-08-22 | 29/08/2014Added · Updated
Circular SGDB No. 032/2014 on Confiscation, Seizure, and Invalidation of Counterfeit Banknotes and Coins
The Central Bank of Bolivia mandates that financial institutions immediately report, invalidate in the presence of the holder, and document any detected counterfeit banknotes or coins. Entities must submit seizure records to the Public Ministry or FELCC within three business days and provide copies to the Central Bank every three weeks for statistical validation. The Public Ministry and FELCC are required to remit seized counterfeit currency to the Central Bank every three weeks for laboratory testing and statistics. This instruction applies to all financial institutions and the general public throughout Bolivia, effective September 8, 2014.
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