Updates the thresholds for different sectors such as insurance, notaries, professionals in economic sciences, individuals or legal entities dedicated to the sale of works of art, fund remittances, among others.
The Fiscal Information Unit (FIU) updated the thresholds from which the subjects obliged to report must carry out due diligence measures of their clients and systematic reports of commercial and financial operations, taking as a parameter the Minimum Vital and Mobile Wage (SMVM )through resolution 84/2023 published today in the Official Gazette.
The FIU highlighted that “the measure will make it easier for reporting entities to manage the risks of Money Laundering and Terrorist Financing (ML/FT), in accordance with international standards approved by the International Financial Action Task Force (GAFI) “.
Who meets the new thresholds established by the FIU
The resolution, which will take effect on July 1, it updates the thresholds for the different sectors such as insurance, notaries, professionals in economic sciences, individuals or legal entities dedicated to the sale of works of art, fund remitters, among others.
“The changes respond to the need to update the amounts established since the issuance of UIF resolution 50/2022 for effective prevention of ML/TF, with a risk-based approach, in accordance with international standards. promoted by the FATF”, the organization specified.
Within this framework, semi-annual updates are foreseen, considering the SMVM in force as of December 31 of the previous calendar year and June 30 of the current calendar year, as appropriate.
Source: Ambito
