Subjects Required to Comply with the Norm on the Fight Against Money Laundering and Terrorist Financing: Cape Verde Experience

Abstract

This research focuses on a critical analysis from the point of view of the Cape Verde Bar Association, in relation to the mutual evaluation that was carried out in Cape Verde by the Intergovernmental Action Group against Money Laundering in West Africa. When it comes to investigating the financing of terrorism and, consequently, money laundering, the consideration of the defense of rights and freedoms becomes less rigorous in the eyes of States. They tend to automatically replace community or collective interest. One of the legal instruments is Law 120/VIII/2016, of March 24 in Cape Verde, which establishes measures aimed at preventing and repressing the crime of money laundering, goods, rights and values, in which it revises its regime by introducing its main measures and assessing the (dis)respect for fundamental rights. For the development of the research, the inductive method was used from the literature review. The number of entities and duties leads us to conclude that the States, without a doubt, cannot combat these crimes alone. They must unite, apply measures that can produce effects in all countries, but even so, they need their citizens to help them in this fight; such citizens are those who deal with financing activities, those who deal with criminals themselves, or even those who associate with people who hold political or economic power.