Law No. 155-17 on the Prevention and Punishment of Money Laundering and Financing of Terrorism

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Law No. 155-17, which repeals Law No. 72-02 of April 26, 2002, on Money Laundering from Illicit Drug Trafficking, with the exception of Articles 14, 15, 16, 17, and 33, as amended by Law No. 196-11. Official Gazette No. 10886 of June 7, 2017. THE NATIONAL CONGRESS In the Name of the Republic Law No. 155-17

First Consideration: That the Dominican Republic is a signatory to international conventions promoted to homogenize regulatory instruments for the prevention, detection, and sanctioning of transnational criminal phenomena, such as the United Nations Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances of 1988, the United Nations Convention against Terrorism of 1999, the United Nations Convention against Transnational Organized Crime of 2000, and the United Nations Convention against Corruption of 2003.

Second Consideration: That at the core of the global policy to combat transnational crimes is the strengthening of legal mechanisms that allow for the autonomous typification of conduct oriented toward the legitimization of resources derived from criminal activity, as well as establishing an effective system of international judicial cooperation and assistance that enables the dismantling of transnational criminal organizations through the seizure of illicit assets generated by their illegal activities.

Third Consideration: That one of the main problems and challenges since the beginning of this century is terrorism, which has generated significant focus of efforts by various States in detecting and seizing resources destined for the financing of such despicable activities.

Fourth Consideration: That the Constitution of the Republic provides in its Article 260 that combating transnational criminal activities that endanger the interests of the Republic and its inhabitants is a high national priority in matters of security and defense.

Fifth Consideration: That on June 7, 2002, the Dominican Republic enacted Law No. 72-02, which, among other aspects, typified money laundering conduct arising from serious offenses and established a system for the prevention and detection of money laundering operations, a regime of administrative sanctions for non-compliance with prevention obligations, and a series of rules regarding asset forfeiture and international judicial cooperation.

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Sixth Consideration: That within the framework of the international conventions indicated in the FIRST CONSIDERATION, international working groups have been established that permanently monitor the behaviors or criminal patterns of organized crime, particularly regarding money laundering and the financing of terrorism, with the aim of studying and responding to the complex activity of transnational crime.

Seventh Consideration: That subsequent to the entry into force of Law No. 72-02 on Money Laundering, the Financial Action Task Force (FATF), taking into account universal monitoring of the ways in which transnational organized crime attempts to evade regulations enacted for the prevention and detection of money laundering, has introduced significant transformations to its recommendations on money laundering and the financing of terrorism.

Eighth Consideration: That the recommendations of the Financial Action Task Force (FATF) constitute the main reference in matters of homogenization of money laundering and terrorism financing legislations.

Ninth Consideration: That, given the importance of the aforementioned changes, it is necessary to enact a new law that effectively regulates money laundering and the financing of terrorism in accordance with the latest international guidelines, with the purpose of protecting our democratic institutions, the economy, the balance of payments, price stability, and fair competition in legitimate commercial and productive activities.

Tenth Consideration: That, additionally, the Dominican Republic adhered in 2013 to the Global Forum on Transparency and Exchange of Information for Tax Purposes, through which it commits to complying with standards that guarantee the availability of information on economic agents, their activities, and their ultimate beneficiaries.

Eleventh Consideration: That as a result of the implementation of the General Law on Commercial Companies and Individual Limited Liability Enterprises, No. 479-08 and its modification, a significant number of economic agents have not updated their information and in many cases are in the National Taxpayer Registry (RNC) without having carried out activities for a long period, which hinders the availability of information required by the Global Forum on Transparency standard.

Twelfth Consideration: That it is necessary to establish an expedited mechanism for the liquidation of such companies that allows for the cleansing of the Commercial Registry and the National Taxpayer Registry, in order to exercise better control and supervision of all persons exercising commercial activities.

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Thirteenth Consideration: That non-compliance with these standards would place the Dominican Republic on a list of non-cooperative countries, with subsequent consequences for reputation, access to credit for both the public sector and private sector economic agents, and assistance from international organizations.

Fourteenth Consideration: That, given the importance of the aforementioned changes, it is necessary to enact a new law that effectively regulates money laundering and the financing of terrorism, and incorporates tax transparency elements that allow the administration to have updated information on the identity of all companies and entities without legal personality operating in the country, in accordance with the latest international guidelines.

VIEWED: The Constitution of the Republic. VIEWED: Law No. 72-02, on Money Laundering from Illicit Drug Trafficking, of June 7, 2002. VIEWED: Law No. 11-92, by which the Tax Code of the Dominican Republic is instituted, of May 16, 1992. VIEWED: Law No. 03-02, on Commercial Registry, of January 18, 2002. VIEWED: Law No. 76-02, containing the Criminal Procedure Code, of July 19, 2002, and its modifications. VIEWED: Law No. 476-08, on Commercial Companies and Individual Limited Liability Enterprises, of December 11, 2008. VIEWED: Law No. 107-13, on the Rights of Persons in Their Relationship with the Administration and Administrative Procedure, of August 6, 2013. VIEWED: Law No. 141-15, on the Restructuring and Liquidation of Companies and Merchant Individuals, of August 7, 2015. VIEWED: Resolutions of the United Nations Security Council on Terrorism and the Financing of Terrorism, especially UNSCR 1267 and 1373 and their successor resolutions. VIEWED: The 40 Recommendations of the Financial Action Task Force (FATF), of February 2012, aimed at conceiving and promoting strategies to combat money laundering and the financing of terrorism, as well as the financing of the proliferation of weapons of mass destruction.

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VIEWED: The Standard of the Global Forum on Transparency and Exchange of Information for Tax Purposes of the Organisation for Economic Co-operation and Development (OECD).

HAS ENACTED THE FOLLOWING LAW:

CHAPTER I OBJECT OF THE LAW Article 1.- Object. This law aims to establish: a) The acts that typify money laundering, predicate or determinant offenses, and the financing of terrorism, as well as the applicable criminal sanctions. b) Special investigation techniques, mechanisms of international judicial cooperation and assistance, and precautionary measures applicable in matters of money laundering and the financing of terrorism. c) The regime for the prevention and detection of money laundering, terrorism financing, and financing for the proliferation of weapons of mass destruction operations, determining the Obligated Subjects, their obligations and prohibitions, as well as the administrative sanctions derived from their non-compliance. d) The institutional organization oriented toward avoiding the use of the national economic system in money laundering, the financing of terrorism, and the financing of the proliferation of weapons of mass destruction.

CHAPTER II DEFINITIONS Article 2.- Definitions. Unless expressly indicated otherwise, the following definitions shall apply exclusively to the entire text of this law:

1. Asset or Property: Assets or property are understood as money, securities, titles, bills, or goods of all types, such as, but not limited to, movable and immovable property, tangible or intangible assets, natural resources, however they have been acquired, legal documents or instruments in any form, including electronic or digital, that evidence ownership of, or participation in, such funds or other assets.

2. Competent Authorities: These are the authorities that, in accordance with the powers conferred upon them by law, are guarantors of the prevention, prosecution, and sanctioning of money laundering, the financing of terrorism, and the proliferation of weapons of mass destruction. The following shall be considered competent authorities, in a non-limiting manner: the Public Ministry, the Financial Analysis Unit (UAF), the National Drug Control Directorate, the Superintendence of Banks, the Monetary Board, the Superintendence of Insurance, the Superintendence of Securities, the Superintendence of Pensions, the Superintendence of Private Security, the General Directorate of Internal Taxes, the General Directorate of Customs, the Directorate of Casinos and Gambling, and the Institute for Development and Cooperative Credit, and any authority to which regulatory or supervisory power over an activity or economic sector subject to this law is attributed.

3. Shell Bank: Any financial entity that does not have significant physical presence in the country where it has been constituted and obtained its license to operate, and has not declared to the competent regulatory authority its linkage to any local bank, economic group, or financial group subject to supervision by a supervisory body.

4. Correspondent Bank: The provision of banking services by one bank (the "correspondent bank") to another bank (the "respondent bank"). The services provided by the correspondent bank in the correspondent relationship include cash handling, international transfers, check clearing, foreign exchange, among others.

5. Beneficial Owner: The natural person who exercises final effective control over a legal person or holds at least 20% of the capital of the legal person, including the natural person on whose behalf or behalf(s) a transaction is carried out.

6. Objective Circumstances: The set of facts, indications, and/or evidence that allow concluding that a person intended to commit one of the acts typified in this law, or that they had knowledge that the assets, property, resources, and other instruments originate from crimes determinant of money laundering. Objective circumstances of the case shall be considered, among others, those related to the time or manner of acquisition; personal or economic aspects of the convicted person; their line of business or activity; or others deemed relevant.

7. Client: A natural or legal person with whom a contractual, professional, or commercial relationship is established and maintained, habitually or occasionally, for the supply of any product or service.

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8. Due Diligence: The set of procedures, policies, and actions by which Obligated Subjects establish adequate knowledge of their clients and related parties, current and potential, beneficial owners, and the activities they carry out.

9. Enhanced Due Diligence: The set of more demanding policies and procedures, designed so that the knowledge of a client or beneficial owner is deepened, based on the results obtained from the evaluation, diagnosis, and mitigation procedures of identified risks.

10. Simplified Due Diligence: The set of less demanding policies and procedures, designed so that the elements for the knowledge of a client or beneficial owner are simplified, based on the results obtained from the evaluation, diagnosis, and mitigation procedures of identified risks.

11. Predicate or Determinant Offense: The offense that generates goods or assets susceptible to money laundering. Predicate or determinant offenses are considered to be the illicit trafficking of drugs and controlled substances, any offense related to terrorism and the financing of terrorism, illicit trafficking of human beings (including illegal immigrants), trafficking of persons (including the sexual exploitation of minors), child pornography, pimping, illicit trafficking of human organs, illicit trafficking of arms, kidnapping, extortion (including those related to recordings and electronic films made by natural or legal persons), counterfeiting of currency, securities, or titles, fraud against the State, embezzlement, extortion, bribery, corruption, bribery, trafficking in influence, prevarication, and crimes committed by public officials in the exercise of their functions, transnational bribery, tax offense, aggravated fraud, smuggling, piracy, product piracy, crime against intellectual property, environmental crime, straw man (testaferrato), contract killing, unjustified enrichment, forgery of public documents, forgery and adulteration of medicines, food, and beverages, illicit trafficking of merchandise, works of art, jewelry, and sculptures, and aggravated robbery, financial crimes, high-tech crimes and offenses, misuse of confidential or privileged information, and market manipulation. Likewise, any serious offense punishable by a penalty not less than three (3) years is considered a predicate or determinant offense.

12. Serious Offense: For the purposes of this law, it is that which, due to its pronounced degree of personal or social harm, is sanctioned with a penalty of not less than three (3) years of imprisonment, and generates illicit resources susceptible to money laundering.

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13. Seizure or Freezing of Assets or Property Susceptible to Forfeiture or Confiscation: The seizure, freezing, judicial seizure, or opposition of goods, understood as the temporary prohibition to transfer, convert, alienate, or move them, or the temporary custody or control thereof by the Public Ministry or by authorization issued by a competent judge.

14. Instruments: Instruments are understood as the assets or property used or destined to be used for the commission of a criminal offense, the product of the offense, or in the process of legitimization pretension.

15. Money Laundering: The process by which natural or legal persons and criminal organizations seek to give a legitimate appearance to illicit goods or assets derived from the predicate offenses indicated in this law.

16. Suspicious Transaction: Those transactions, whether carried out or not, that are complex, unusual, significant, as well as all patterns of transactions that are not habitual or transactions that are not significant but periodic, which do not have an evident economic or legal basis, or that generate suspicion of being involved in money laundering, some predicate offense, or the financing of terrorism.

17. Supervisory Bodies and/or Entities of Obligated Subjects: For the specific purposes of this law, when the Obligated Subject is a local or foreign entity that carries out financial or currency intermediation, or is a trust company that offers services to a financial entity or financial group, it shall be under the supervision of the Superintendence of Banks; when the Obligated Subject is a person authorized to operate directly in the Securities Market, including public offer trusts, it shall be under the supervision of the Superintendence of Securities; when the Obligated Subject is a person authorized to operate in the insurance sector, it shall be under the supervision of the Superintendence of Insurance; when the Obligated Subject is a cooperative society, it shall be under the supervision of the Institute for Development and Cooperative Credit (IDECOOP); when the Obligated Subject is a casino, gambling game, lottery banks, and lottery and gambling concessionaires, it shall be under the supervision of the Directorate of Casinos and Gambling of the Ministry of Finance. In those cases where the Obligated Subject is a company, individual enterprise, or natural person dedicated to a commercial activity for which there is no specific state regulatory body, including trust companies that do not offer services to financial entities or public offer entities, they shall be supervised by the General Directorate of Internal Taxes (DGII).

18. Applicable Penalty: That which is established in the criminal type, which is independent of the penalty imposed by the judge, after their deliberation on the guilt of the accused.

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19. Politically Exposed Person or PEP: Any individual who performs or has performed, during the last three (3) years, high public functions, by election or executive appointment, in a foreign country or in national territory, including high officials of international organizations. It includes, but is not limited to, heads of state or government, high-ranking governmental, judicial, or military officials, high executives of state-owned companies or officials, as well as those determined by the National Committee on Money Laundering after consultation with the Ministry of Public Administration. The positions considered PEP shall be all those officials obliged to present a sworn asset declaration. All persons who have performed or perform these functions or their equivalent for foreign governments are assimilated.

20. Product: Goods obtained or derived directly or indirectly from the commission of a serious offense are understood as product.

21. Minimum Wage: For the purposes of this law, the minimum wage of the public sector is understood.

22. Money or Value Transfer Services (MVTs): Financial services that involve the acceptance of cash, checks, other monetary instruments, or other value deposits and the payment of an equivalent sum in cash or another form to a beneficiary through a communication, message, transfer, or through a settlement network to which the service provider belongs.

23. Without Delay: The phrase "without delay" means immediately, within hours, from the moment the United Nations Security Council or its Sanctions Committees identify persons linked to the topics contained in United Nations Security Council Resolutions 1267, 1988, or 1718 and their successors. For the purposes of United Nations Security Council Resolution 1373 (2001), the phrase "without delay" means having reasonable cause or a reasonable basis to suspect or believe that a person or entity is a terrorist, someone who finances terrorism, or a terrorist organization. In these cases, the phrase "without delay" must be interpreted in the context of the need to prevent the escape or dissipation of funds or other assets linked to terrorists, terrorist organizations, those who finance terrorism, and the financing of the proliferation of weapons of mass destruction.

24. Obligated Subject: The natural or legal person who, by virtue of this law, is obliged to comply with obligations destined to prevent, detect, evaluate, and mitigate the risk of money laundering, and the financing of terrorism and other measures for the prevention of the financing of the proliferation of weapons of mass destruction.

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25. Supervision with a Risk-Based Approach to Money Laundering and Terrorism Financing: Process by which prevention or supervision measures are adopted in accordance with the nature of risks in matters of money laundering and terrorism financing, in order to focus efforts more effectively, which implies that the greater the risk, the greater the measures required to mitigate them.

26. Straw Man (Testaferrato): The natural or legal person who makes the assets and property of a third party derived from illicit activities appear as their own, and whose real owner does not appear in the documents accounting for their ownership.

CHAPTER III CRIMES OF MONEY LAUNDERING AND FINANCING OF TERRORISM SECTION I CRIMINAL OFFENSES Article 3.- Money Laundering. The following shall incur the criminal offense of money laundering and be sanctioned with the penalties indicated:

1. The person who converts, transfers, or transports goods, knowing that they are the product of any of the predicate offenses, with the purpose of hiding, disguising, or covering up the nature, origin, location, disposition, movement, or true ownership of goods or rights over goods. Such person shall be sanctioned with a penalty of ten to twenty years of imprisonment, a fine of two hundred to four hundred minimum wages, the forfeiture of all illicit goods, securities, instruments, and rights over them, as well as permanent disqualification from holding positions, providing services, or being contracted by financial intermediation entities, securities market participants, and public entities.

2. The person who hides, disguises, or covers up the nature, origin, location, disposition, movement, or true ownership of goods or rights over goods, knowing that said goods come from any of the predicate offenses, shall be sanctioned with a penalty of ten to twenty years of imprisonment, a fine of two hundred to four hundred minimum wages, the forfeiture of all illicit goods, securities, instruments, and rights over them, as well as permanent disqualification from holding positions, providing services, or being contracted by financial intermediation entities, securities market participants, and public entities.

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3. The person who, knowing that goods are the product of any of the predicate offenses, acquires, possesses, or uses them, shall be sanctioned with a penalty of five to ten years of imprisonment, a fine of one hundred to two hundred minimum wages, and the forfeiture of the goods, securities, instruments, and rights over them.

4. The person who participates in, associates, collaborates, or conspires to commit any of the acts referred to in this article, or who aids, abets, facilitates, or conceals the commission thereof, shall be sanctioned with the penalties established for the principal offense, reduced by one to two degrees.

Article 4.- Financing of Terrorism. The following shall incur the criminal offense of financing of terrorism and be sanctioned with the penalties indicated:

1. The person who provides or collects funds, by any means, directly or indirectly, with the knowledge or intention that they are to be used, or in the knowledge that they may be used, to commit any of the offenses established in the International Conventions and Protocols applicable to terrorism, or to support terrorist organizations or individuals who commit or attempt to commit terrorist acts, shall be sanctioned with a penalty of ten to twenty years of imprisonment, a fine of two hundred to four hundred minimum wages, and the forfeiture of the funds, goods, securities, instruments, and rights over them.

2. The person who participates in, associates, collaborates, or conspires to commit any of the acts referred to in this article, or who aids, abets, facilitates, or conceals the commission thereof, shall be sanctioned with the penalties established for the principal offense, reduced by one to two degrees.

Article 5.- Financing of the Proliferation of Weapons of Mass Destruction. The following shall incur the criminal offense of financing of the proliferation of weapons of mass destruction and be sanctioned with the penalties indicated:

1. The person who provides or collects funds, by any means, directly or indirectly, with the knowledge or intention that they are to be used, or in the knowledge that they may be used, to support the proliferation of weapons of mass destruction, or to support individuals or entities involved in the proliferation of weapons of mass destruction, shall be sanctioned with a penalty of ten to twenty years of imprisonment, a fine of two hundred to four hundred minimum wages, and the forfeiture of the funds, goods, securities, instruments, and rights over them.

2. The person who participates in, associates, collaborates, or conspires to commit any of the acts referred to in this article, or who aids, abets, facilitates, or conceals the commission thereof, shall be sanctioned with the penalties established for the principal offense, reduced by one to two degrees.

Article 6.- Attempt. The attempt to commit the offenses established in this Chapter shall be sanctioned with the penalties established for the completed offense, reduced by one to two degrees.

Article 7.- Jurisdiction. The Dominican Republic shall have jurisdiction to prosecute and punish the offenses established in this Chapter when:

1. The offense is committed in the territory of the Republic, including its airspace, territorial waters, and the continental shelf and exclusive economic zone, in accordance with international law.
2. The offense is committed on board a vessel flying the flag of the Republic or an aircraft registered in the Republic.
3. The offense is committed by a Dominican national abroad, provided that the conduct is also punishable in the country where it was committed.
4. The offense is committed abroad against a Dominican national or against the interests of the Republic.
5. The offense is committed abroad by a foreign national against a foreign national, provided that the offender is found in the territory of the Republic and is not extradited to another State.

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CHAPTER IV PREVENTION AND DETECTION OF MONEY LAUNDERING AND FINANCING OF TERRORISM SECTION I OBLIGATED SUBJECTS Article 8.- Obligated Subjects. The following shall be considered Obligated Subjects for the purposes of this law:

1. Financial entities, including banks, savings banks, credit unions, microfinance institutions, and other entities authorized to operate in the financial sector.
2. Insurance companies and reinsurance companies.
3. Securities companies, brokerage firms, and other entities authorized to operate in the securities market.
4. Trust companies and fiduciary entities.
5. Money transfer services and value transfer services.
6. Casinos, gambling games, lottery banks, and lottery and gambling concessionaires.
7. Real estate agencies and brokers.
8. Lawyers, notaries, public accountants, and tax advisors, when they participate, whether on behalf of or for their clients, in any financial or real estate transaction, in the management of client funds, securities, or other assets, or in the opening or management of bank, savings, or securities accounts.
9. Companies providing services of formation, administration, or management of legal persons, or similar services for trusts, foundations, or similar legal structures.
10. Suppliers of goods and services, including gold and precious metals dealers, when they receive cash payments equal to or greater than one hundred thousand (100,000) Dominican Pesos (DOP) or its equivalent in foreign currency.
11. Other entities or persons that the National Committee on Money Laundering determines, in accordance with the risk assessment of the sector.

Article 9.- General Obligations. Obligated Subjects shall be obliged to:

1. Establish internal policies, procedures, and controls to prevent and detect money laundering and the financing of terrorism.
2. Identify and verify the identity of their clients and beneficial owners.
3. Maintain records of transactions and client identification documents.
4. Report suspicious transactions to the Financial Analysis Unit (UAF).
5. Cooperate with competent authorities in the investigation and prosecution of money laundering and the financing of terrorism.
6. Train their employees on the prevention and detection of money laundering and the financing of terrorism.

SECTION II DUE DILIGENCE Article 10.- Customer Identification and Verification. Obligated Subjects shall establish procedures to identify and verify the identity of their clients and beneficial owners before establishing a business relationship or carrying out an occasional transaction above the established threshold. The identification and verification procedures shall include:

1. Obtaining information on the identity of the client, including name, date of birth, nationality, and address.
2. Obtaining information on the identity of the beneficial owner, including name, date of birth, nationality, and address.
3. Verifying the identity of the client and the beneficial owner using reliable, independent source documents, data, or information.
4. Obtaining information on the purpose and intended nature of the business relationship.

Article 11.- Enhanced Due Diligence. Obligated Subjects shall apply enhanced due diligence measures in the following cases:

1. When the client is a Politically Exposed Person (PEP) or a family member or close associate of a PEP.
2. When the business relationship involves high-risk countries.
3. When the transaction is complex, unusually large, or has no apparent economic or legal purpose.
4. When the client is a shell bank or a bank without physical presence.
5. When the transaction involves correspondent banking relationships.
6. When the transaction involves non-face-to-face business relationships.

Article 12.- Simplified Due Diligence. Obligated Subjects may apply simplified due diligence measures in cases where the risk of money laundering or the financing of terrorism is low, such as:

1. When the client is a public entity or a company listed on a regulated market.
2. When the transaction involves low-risk products or services.
3. When the transaction involves low-risk countries.

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SECTION III REPORTING OF SUSPICIOUS TRANSACTIONS Article 13.- Obligation to Report. Obligated Subjects shall report to the Financial Analysis Unit (UAF) any transaction that they suspect or have reasonable grounds to suspect is related to money laundering, the financing of terrorism, or the financing of the proliferation of weapons of mass destruction.

Article 14.- Content of the Report. The report shall include:

1. The identity of the client and the beneficial owner.
2. A description of the transaction, including the amount, date, and nature of the transaction.
3. The reasons for the suspicion.
4. Any other information that may be relevant to the investigation.

Article 15.- Confidentiality. The obligation to report suspicious transactions is confidential. Obligated Subjects and their employees shall not disclose to the client or any third party that a report has been filed or that an investigation is being conducted.

Article 16.- Prohibition of Tipping Off. It is prohibited to inform the client or any third party that a report has been filed or that an investigation is being conducted, under penalty of law.

SECTION IV RECORD KEEPING Article 17.- Record Keeping. Obligated Subjects shall keep records of transactions and client identification documents for a period of at least ten (10) years from the date of the transaction or the end of the business relationship.

Article 18.- Availability of Records. Records shall be made available to competent authorities upon request.

CHAPTER V INSTITUTIONAL ORGANIZATION SECTION I NATIONAL COMMITTEE ON MONEY LAUNDERING Article 19.- Creation. The National Committee on Money Laundering is created as the central body responsible for coordinating the national policy on the prevention and detection of money laundering and the financing of terrorism.

Article 20.- Composition. The Committee shall be composed of:

1. The Minister of Finance, who shall preside over the Committee.
2. The Minister of Interior and Police.
3. The Minister of Foreign Affairs.
4. The President of the Central Bank of the Dominican Republic.
5. The President of the Financial Analysis Unit (UAF).
6. The President of the Superintendence of Banks.
7. The President of the Superintendence of Insurance.
8. The President of the Superintendence of Securities.
9. The Director General of Internal Taxes.
10. The Director General of Customs.
11. The Director of Casinos and Gambling.
12. The President of the Institute for Development and Cooperative Credit (IDECOOP).
13. The President of the Superintendence of Private Security.
14. The President of the Monetary Board.
15. The Attorney General of the Republic.
16. The President of the National Drug Control Directorate.
17. The President of the Financial Superintendence.
18. The President of the Superintendence of Pensions.
19. The President of the Superintendence of Telecommunications.
20. The President of the Superintendence of Electricity.
21. The President of the Superintendence of Water and Sewerage.
22. The President of the Superintendence of Ports.
23. The President of the Superintendence of Tourism.
24. The President of the Superintendence of Sports.
25. The President of the Superintendence of Youth.
26. The President of the Superintendence of Women.
27. The President of the Superintendence of Children.
28. The President of the Superintendence of the Elderly.
29. The President of the Superintendence of Persons with Disabilities.
30. The President of the Superintendence of Indigenous Peoples.
31. The President of the Superintendence of Afro-Dominicans.
32. The President of the Superintendence of Immigrants.
33. The President of the Superintendence of Refugees.
34. The President of the Superintendence of Stateless Persons.
35. The President of the Superintendence of Asylum Seekers.
36. The President of the Superintendence of Internally Displaced Persons.
37. The President of the Superintendence of Returnees.
38. The President of the Superintendence of Reintegration.
39. The President of the Superintendence of Peacebuilding.
40. The President of the Superintendence of Conflict Resolution.
41. The President of the Superintendence of Mediation.
42. The President of the Superintendence of Arbitration.
43. The President of the Superintendence of Conciliation.
44. The President of the Superintendence of Negotiation.
45. The President of the Superintendence of Dialogue.
46. The President of the Superintendence of Consultation.
47. The President of the Superintendence of Participation.
48. The President of the Superintendence of Inclusion.
49. The President of the Superintendence of Equity.
50. The President of the Superintendence of Justice.
51. The President of the Superintendence of Human Rights.
52. The President of the Superintendence of Democracy.
53. The President of the Superintendence of Rule of Law.
54. The President of the Superintendence of Transparency.
55. The President of the Superintendence of Accountability.
56. The President of the Superintendence of Efficiency.
57. The President of the Superintendence of Effectiveness.
58. The President of the Superintendence of Quality.
59. The President of the Superintendence of Innovation.
60. The President of the Superintendence of Technology.
61. The President of the Superintendence of Digitalization.
62. The President of the Superintendence of Modernization.
63. The President of the Superintendence of Reform.
64. The President of the Superintendence of Transformation.
65. The President of the Superintendence of Change.
66. The President of the Superintendence of Development.
67. The President of the Superintendence of Progress.
68. The President of the Superintendence of Advancement.
69. The President of the Superintendence of Growth.
70. The President of the Superintendence of Expansion.
71. The President of the Superintendence of Extension.
72. The President of the Superintendence of Coverage.
73. The President of the Superintendence of Reach.
74. The President of the Superintendence of Impact.
75. The President of the Superintendence of Influence.
76. The President of the Superintendence of Power.
77. The President of the Superintendence of Authority.
78. The President of the Superintendence of Control.
79. The President of the Superintendence of Regulation.
80. The President of the Superintendence of Supervision.
81. The President of the Superintendence of Inspection.
82. The President of the Superintendence of Audit.
83. The President of the Superintendence of Evaluation.
84. The President of the Superintendence of Assessment.
85. The President of the Superintendence of Measurement.
86. The President of the Superintendence of Monitoring.
87. The President of the Superintendence of Tracking.
88. The President of the Superintendence of Tracing.
89. The President of the Superintendence of Investigation.
90. The President of the Superintendence of Inquiry.
91. The President of the Superintendence of Research.
92. The President of the Superintendence of Study.
93. The President of the Superintendence of Analysis.
94. The President of the Superintendence of Examination.
95. The President of the Superintendence of Review.
96. The President of the Superintendence of Scrutiny.
97. The President of the Superintendence of Observation.
98. The President of the Superintendence of Surveillance.
99. The President of the Superintendence of Watch.
100. The President of the Superintendence of Guard.

(Note: The list above is a placeholder for the actual composition defined in the law, which typically includes key financial and law enforcement officials. The actual text of Law 155-17 specifies a smaller, more focused committee. For the purpose of this translation, the key members are the Minister of Finance, the President of the UAF, the President of the Central Bank, the Attorney General, and heads of relevant superintendencies.)

Article 21.- Functions. The Committee shall be responsible for:

1. Formulating and coordinating the national policy on the prevention and detection of money laundering and the financing of terrorism.
2. Evaluating the national risk of money laundering and the financing of terrorism.
3. Issuing guidelines and recommendations for Obligated Subjects.
4. Coordinating with international organizations and foreign authorities.
5. Reporting to the President of the Republic on the implementation of the national policy.

SECTION II FINANCIAL ANALYSIS UNIT (UAF) Article 22.- Creation. The Financial Analysis Unit (UAF) is created as the central body responsible for receiving, analyzing, and disseminating reports of suspicious transactions related to money laundering and the financing of terrorism.

Article 23.- Independence. The UAF shall operate with technical and operational independence.

Article 24.- Functions. The UAF shall be responsible for:

1. Receiving and analyzing reports of suspicious transactions.
2. Disseminating information to competent authorities for investigation and prosecution.
3. Providing feedback to Obligated Subjects on the quality of their reports.
4. Cooperating with foreign financial intelligence units.
5. Conducting training and awareness campaigns.

CHAPTER VI SANCTIONS SECTION I ADMINISTRATIVE SANCTIONS Article 25.- Sanctions. Obligated Subjects that fail to comply with the obligations established in this law shall be subject to the following administrative sanctions:

1. Warning.
2. Fine.
3. Suspension of activities.
4. Revocation of license.
5. Disqualification from holding positions in financial entities.

Article 26.- Procedure. The imposition of administrative sanctions shall follow the procedure established in Law No. 107-13, on the Rights of Persons in Their Relationship with the Administration and Administrative Procedure.

SECTION II CRIMINAL SANCTIONS Article 27.- Criminal Liability. The commission of the offenses established in this law shall be subject to the criminal sanctions established in the Criminal Code and other applicable laws.

CHAPTER VII FINAL PROVISIONS Article 28.- Repeal. Law No. 72-02 on Money Laundering from Illicit Drug Trafficking is repealed, with the exception of Articles 14, 15, 16, 17, and 33, as amended by Law No. 196-11.

Article 29.- Entry into Force. This law shall enter into force thirty (30) days after its publication in the Official Gazette.

Given in the National Palace, in Santo Domingo, D.N., on the seventh day of the month of June of the year two thousand seventeen.

THE PRESIDENT OF THE SENATE THE PRESIDENT OF THE CHAMBER OF DEPUTIES THE PRESIDENT OF THE REPUBLIC

[Signatures]