ESPAÑOL ENGLISH

legafy

GP&H Suite

Ciserus

legafy

GP&H Suite

Ciserus

15 Feb

Prevention of Money Laundering and Terrorism Financing

by

In the last post it was said that the law regulates obliged subjects and vulnerable activities, this time we will describe each one of them.

Vulnerable activities are economic activities that, due to their nature and characteristics, may be a possibility of the entry of money obtained from illegal sources, which would affect the economy of those who carry them out without the economic entity and the authority itself being able to notice such activities, said activities are regulated in the Federal Law for the Prevention and Identification of Operations with Resources of Illicit Origin (LFPIORPI), which determines whether or not a person is obliged to comsply with said legal Device by locating themselves in the regulatory assumptions.

In other words, to corroborate if vulnerable activities are carried out, it is necessary to identify the commercial category and the total amount of the operations.

The LFPIORPI law indicates that those who carry out vulnerable activities must comply with certain obligations in addition to those found in various secondary provisions, below, we mention some of the most important:

  • Appoint a Compliance Officer before the SHCP (Certificate in PLD / FT)
  • Make the Notices in a timely manner before the Authority (SHCP) electronically.
  • Identify your customers and users
  • Submit notices of Unusual, Relevant and / or Worrying Operations (SAT).
  • Custodial, protect and safeguard information and documentation that serves as support to the Vulnerable Activity.

A subject obliged to present sworn statements before the FIU are the Natural and Legal Persons that the legislation considers vulnerable to Money Laundering and Terrorism Financing.

The Supervised Subjects who are obliged to have a Regime for the Prevention of ML / FT are:

  • General deposit warehouses,
  • Investment advisers,
  • Brokerage firms,
  • Exchange house,
  • Exchange centers,
  • Credit institutions,
  • Cooperative savings and loan societies,
  • Multiple purpose financial companies,
  • Popular financial companies with operation levels I to IV, community financial companies with operation levels I to IV.
  • Rural financial integration organizations.
  • Investment fund share distribution companies, investment fund operating companies.
  • Money transmitters,
  • Credit unions,
  • National Financial for Agricultural, Rural, Forestry and Fisheries Development
  • Retirement fund managers
  • Institutions and mutual insurance companies
  • Surety Institutions
  • Non-financial institutions that carry out vulnerable activities or operations in cash.

For more information contact us!

Javier Estrada Vega

Gloria Ponce de León & Hernández

Noticias anteriores: