The Government continues to implement measures now supported by the Financial Information Unit (UIF). The details of the modifications.
After what the confirmation of the transportation deregulation and other respective changes that arose in the automotive sector, the Government continues to implement preventive measures in order to prevent the laundering of assets from a series of serious crimes.
For this reason, the Financial Information Unit (UIF) appears on the scene after the modifications implemented in Law No. 25,246, which establish that automobile ownership registries and collateral registries must inform said state entity about certain operations.
Automotive Registration: new rules govern Politically Exposed Persons
The ULF aims prevent money laundering and terrorist financing, Therefore, it issued directives for obligated entities to identify and know their clients, especially those considered Politically Exposed Persons (PEP).
Following the international recommendations of the FATFdesignated non-financial institutions and activities are required to implement measures to prevent abuse of the financial system by PEP. This includes the identification of these people and the application of measures to mitigate the risks of money laundering and terrorist financing.
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In the context of these measures, the National Registry of Automotive Property modified its Digest of Technical-Registral Standards.
Article 11, Section 1, Chapter XIII, establishes that records must determine the origin of funds for operations involving PEP, recording any suspicious operations. Furthermore, the condition of PEP It ceases two years after the person leaves public office, although the risk will be assessed after that period.
The new protocol PEP will come into force with the publication of this measure and will adjust the previous regulations to the new directives of the UIF.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
