Post by alanbond on Nov 9, 2016 1:31:43 GMT 4
The National Secretariat for the Fight Against Money Laundering and Terrorism Financing (SENACLAFT) has recently been actively auditing compliance with anti-money laundering (AML) and terrorism financing (TF) rules by operators and direct users of Uruguay's Free Trade Zones. Such entities are required to comply with AML and TF rules pursuant to the 2015 National Budget Law (Law No. 19.355), which also created SENACLAFT.
SENACLAFT is responsible for enforcing certain nonfinancial entities' compliance with AML/TF obligations. In addition to Free Trade Zone operators and direct users, nonfinancial entities that must comply with AML/TF rules include real estate agencies and construction businesses. SENACLAFT has full investigatory authority and may require regulated entities to produce documents (their own, as well as third parties') and require their cooperation to produce additional information, as well as conduct physical searches.
As of September 22, SENACLAFT's online training program on AML/TF prevention for the nonfinancial sector is available to the public.
SENACLAFT is responsible for enforcing certain nonfinancial entities' compliance with AML/TF obligations. In addition to Free Trade Zone operators and direct users, nonfinancial entities that must comply with AML/TF rules include real estate agencies and construction businesses. SENACLAFT has full investigatory authority and may require regulated entities to produce documents (their own, as well as third parties') and require their cooperation to produce additional information, as well as conduct physical searches.
As of September 22, SENACLAFT's online training program on AML/TF prevention for the nonfinancial sector is available to the public.