Considering that the Economic Crimes Law is about to be published, it is necessary to highlight the most important aspects of its content. To this end, we will explain the scope and application of some of the new features contemplated in the EDL.
Scope and application of economic crime law
Executive summary: The Economic Crimes Law is a legislative initiative that seeks to address economic crimes in the business context, recognizing the importance of strengthening the regulation of criminal liability of legal entities, in addition to individual liability. In this way, new basic criminal types are created, which are added to economic crimes scattered in various regulations. Likewise, there is an increase in the penalties assigned to economic crimes, which is due, in addition to the custodial or restrictive penalties of freedom or other rights assigned to each crime, to the application of fines and disqualifications; to the increase of fines, based on a new system of day-fines; to the new regulation on the confiscation of profits; and to a special system of mitigating and aggravating factors of criminal liability. In addition to these regulations, there are greater requirements for the implementation of crime prevention models to ensure that the measures adopted are really effective in preventing the commission of crimes. In short, the Economic Crimes Law represents a significant increase in corporate risks for legal entities, raising the standards they must follow to prevent crimes and, where appropriate, exempt themselves from criminal liability.
On May 15, 2023, the Congress passed the bill that systematizes economic crimes and attacks against the environment, modifies several legal bodies that typify crimes against the socioeconomic order, and adjusts the penalties applicable to all of them (Bulletin No. 13205-07, merged with Bulletin No. 13204-07), hereinafter the "LDE".
After passing the constitutionality control carried out by the Constitutional Court, it was enacted by the President of the Republic on August 7, 2023 and is currently pending publication in the Official Gazette.
Considering that the Economic Crimes Law is about to be published, it is necessary to highlight the most important aspects of its contents. With this purpose, the following sections will describe the scope and application of some of the novelties contemplated in the LDE,
: 1. Systematization of Economic Crimes; 2. Modifications to the statute of criminal liability of legal entities; 3. Special regulation of sanctions assigned to individuals who commit economic crimes; and 4.