General Rule on Imposition of Fines on Banking Entities and Other Supervised Natural and Legal Persons

CERTIFICATION OF RESOLUTION
RUTH ELIZABETH ROJAS MERCADO, Secretary of the Monetary and Financial Board, CERTIFIES:
that in Ordinary Session number four of the Monetary and Financial Board, held on January 28, 2026, Resolution No. CDMF-IV-1-26 was unanimously approved, which literally states:
RESOLUTION CDMF-IV-1-26
THE MONETARY AND FINANCIAL BOARD
CONSIDERING
I
That in accordance with Article 105 of the Complete Text of the "Political Constitution of the Republic of Nicaragua," banks and other financial institutions, private and state-owned, are supervised, regulated, and audited by the Superintendence of Banks and Other Financial Institutions, in accordance with the laws on the matter. II That Article 159 of Law No. 561, "General Law of Banks, Non-Bank Financial Institutions and Financial Groups," reformed by Law No. 1237, "Law of Reforms and Additions to Law No. 561, General Law of Banks, Non-Bank Financial Institutions and Financial Groups," published in La Gaceta, Official Gazette No. 37, of February 25, 2025, establishes the fines applicable to institutions regulated by said law for violations of its provisions, related laws, norms, resolutions, and other related regulations. It also establishes which sanctions are applicable to shareholders, directors, managers, officials, employees, and internal auditors. III That Article 164 of Law No. 561, reformed by the aforementioned Law No. 1237, establishes fines for directors, representatives, managers, senior executives, officials, asset laundering, terrorism financing, and proliferation of weapons of mass destruction prevention administrators, internal auditors, or employees; as well as other sanctions regarding asset laundering, terrorism financing, and proliferation of weapons of mass destruction risks. IV That Article 168 of Law No. 561, reformed by the aforementioned Law No. 1237, empowers the Superintendence to apply administrative sanctions adjusted to the importance of the offense, according to the ranges established in Article 159 cited above, when it observes any infringement of the laws, regulations, resolutions of the Monetary and Financial Board, the Central Bank of Nicaragua, the Deposit Guarantee Fund (FOGADE), as well as orders, resolutions, and instructions issued by the Superintendence, or for irregularities in the functioning of a bank or when it receives documents or reports from them that do not correspond to their true situation.

V
That Article 171 of Law No. 561, reformed by Law No. 1237, empowers the Monetary and Financial Board to establish through general norms, the amounts of fines within the ranges established in Law No. 1232, "Law on the Administration of the Monetary and Financial System," adapted to the gravity of the offense, as well as its cycle of recurrence. VI That Article 134 septies of the aforementioned Law No. 561, added by Law No. 1237, provides that: "The Superintendence shall be the responsible instance to regulate and supervise savings and credit cooperatives..." referred to in said Law, being empowered to, among other aspects, issue the procedures, instructions, and administrative provisions necessary for the correct functioning of the referred entities and that Article 134 octies of the referred law establishes that: "The Board of Directors shall establish through general norms, the sanctions and the amounts of fines applicable to savings and credit cooperatives within the ranges established in Law No. 1232, Law on the Administration of the Monetary and Financial System, adapted to the gravity of the offense, as well as its cycle of recurrence." VII That in accordance with Articles 9, numeral 1), and 30 of Law No. 977, "Law Against Asset Laundering, Terrorism Financing, and Financing of the Proliferation of Weapons of Mass Destruction," whose consolidated text is contained in Law No. 1175, "Law of the Nicaraguan Legal Digest of the Matter of Banking and Finance" (hereinafter, the Legal Digest), published in La Gaceta, Official Gazette No. 153, of August 20, 2024, and its subsequent reforms, it is the faculty of the Superintendence of Banks and Other Financial Institutions, in relation to the obligated subjects under its supervision and within the scope of preventing asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, to establish the administrative measures that give operability to said law, supervise with a risk focus that the obligated subjects implement their prevention obligations of AL/TF/FP and impose corrective measures and administrative sanctions when appropriate. VIII That Article 36 of the same Law No. 977, empowers supervisors to "order the implementation of corrective measures and impose sanctions on the Obligated Subjects and/or their directors, administrative managers, and compliance officers, as appropriate, for non-compliance with the AL/TF/FP prevention obligations applicable to them, without prejudice to what is provided in criminal legislation." IX That Article 32 bis of the aforementioned Law No. 977, "Law Against Asset Laundering, Terrorism Financing, and Financing of the Proliferation of Weapons of Mass Destruction," reformed by Law No. 1215, Law of Reforms and Additions to the aforementioned Law No. 977, published in La Gaceta, Official Gazette No. 166, of September 6, 2024, establishes that: "Without prejudice to the functions and attributes established in their respective
Organic Laws and other applicable laws...", "d) The Superintendence of Banks and Other Financial Institutions (SIBOIF) will regulate Factoring Operations, Financial Leasing, and Fiduciary Service Providers...", having to "...ensure compliance with the requirements applicable to their regulated entities and the implementation of monitoring mechanisms, for which they will issue norms or provisions directed to: (...) 4. Establish and apply effective, proportional, and dissuasive sanctions and/or fines as appropriate and according to the gravity of the case. (...)". X That according to Article 17, literal A, numeral 1 and 10, of Law No. 1232, "Law on the Administration of the Monetary and Financial System," published in La Gaceta, Official Gazette No. 241 of December 30, 2024, it is an attribute of the Monetary and Financial Board, the approval of policies, norms, and regulations that guarantee compliance with the objectives, functions, and attributes of the Superintendence, of everything established in said Law and of what is stipulated in the related legal framework, that is within its competencies; as well as the approval of general norms on infractions, sanctions, and fines, as well as the criteria for their application. In exercise of its powers, RESOLVES TO APPROVE The following:
GENERAL RULE ON IMPOSITION OF FINES ON BANKING ENTITIES AND OTHER SUPERVISED NATURAL AND LEGAL PERSONS
CHAPTER I
GENERAL PROVISIONS
Article 1. Definitions. - For the purposes of this rule, the terms indicated in this article, both in uppercase and lowercase, singular or plural, shall have the following meanings:
a. Law No. 561 or General Law of Banks: "General Law of Banks, Non-Bank Financial Institutions and Financial Groups," contained in Law No. 1175, "Law of the Nicaraguan Legal Digest of the Matter of Banking and Finance," published in La Gaceta, Official Gazette No. 153, of August 20, 2024, reformed by Law No. 1237, Law of Reforms and Additions to the aforementioned Law No. 561. b. Fine: Administrative sanction of a pecuniary nature applied based on the infringer's equity or salary, or in fine units.
c. Fine Units: Administrative sanction of a pecuniary nature applied in accordance with what is established in Article 159 of Law No. 561. The value of each fine unit corresponds to the national average minimum salary at the date of imposition of the fine, which is the simple average calculated based on the Minimum Salary Table by Sector of Activity that determines the law on the matter.
d. Equity: Amount established in the supervised entity's financial statements, in accordance with what is defined in its applicable accounting framework.

e. Supervised (s): Banks, financial societies, holding society of financial groups, second-tier banking entities, representation offices of foreign banks and financial institutions, special regime financial companies, financial leasing entities, factoring entities, non-bank providers of fiduciary services, both natural and legal persons, and savings and credit cooperatives, unless in the norm they are cited specifically for reasons of application of the different modalities of fines. f. Superintendence: Superintendence of Banks and Other Financial Institutions. g. Superintendent: Superintendent of Banks and Other Financial Institutions.
Article 2. Object and Scope. - In accordance with what is established in Articles 159, 171, and 134 octies of the General Law of Banks, as well as what is established in Article 32 bis of Law No. 977, this rule aims to establish the types of infractions and the sanctions applicable to supervised entities within the ranges established in Title VI, Single Chapter of the aforementioned General Law of Banks, determined according to the gravity of the offense, in accordance with the parameters and criteria to be indicated in this Norm.
Article 3. Parameters and Criteria. - The Superintendent will apply and grade sanctions taking into account the following:
a. Mitigating factors: These are the reasons that allow reducing the corresponding sanction, established as such the following:

If before the sanctioning procedure begins or before the Superintendent issues a resolution on the matter, the infringer has remedied the infringing conduct on their own initiative or has presented an action plan consisting of the aspects that need to be remedied, indicating a proposal for a maximum date for its completion and the persons responsible for executing it.
The historical behavior of the infringer.
b. Aggravating factors: The circumstances that make the offense or infraction committed more serious, established as such the following:
When the infraction causes damage to the public interest and/or the protected legal good, including the impact on public confidence in the area in which the infringer develops its activities.
When the infringer has committed the infraction with the object of executing or concealing another infraction.
When the infringer has obtained benefits for themselves or for third parties as a consequence of the infraction.
When the infringer prevents or obstructs the Superintendence from exercising its powers by avoiding that the infraction is known, either by hiding information or delaying its delivery, making control actions difficult, or in any other way.
When by the nature of the position and functions of the infringer, this person has specific responsibility regarding the fact that constitutes the infraction.
When the infringer involves or uses one or more institutions that are members of the financial group to which it belongs, if applicable, to commit the infraction. Likewise, when it involves or uses one or more institutions that operate in the financial systems of other countries.
When the infringer reoffends in the commission of any infraction.
The payment of the fine does not exempt the infringer from correcting the infraction or fault that generated it.
CHAPTER II
INFRACTIONS AND FINES IN GENERAL
Article 4. Imposition of fine for infractions to the laws, regulations, and resolutions of the Monetary and Financial Board, Central Bank of Nicaragua, Superintendence of Banks and Other Financial Institutions, and the Deposit Guarantee Fund, among others. - When supervised entities infringe any of the provisions contained in the General Law of Banks; in the laws, regulations, and resolutions of the Central Bank of Nicaragua, the Deposit Guarantee Fund, and the Monetary and Financial Board; as well as the orders, resolutions, or instructions issued by the Superintendent; or irregularities are detected in the functioning of an institution, or documents or reports are received from them that do not correspond to their true situation and whose sanction is not provided for in the aforementioned provisions, the Superintendent may impose a fine in accordance with the following:
a. Minor infractions: Minor infractions are those that do not have an impact on the financial situation of the supervised entities, do not affect their liquidity and solvency nor the deposits and investments of the public, or the good performance of their corporate purpose for which they were authorized according to the law on the matter, such as:
Not informing the Superintendence or informing outside the established deadlines:
i. The change of members of the Board of Directors, General Managers, and Internal Auditor. In the case of a branch of a foreign bank, the administrator of this or whoever acts in their place.
ii. The plan for opening branches in the country.
Not giving notice, or giving notice outside the established deadline, of the appointment of the external auditor of the supervised entity and/or the financial group, if applicable.
Lack of minimum information that, in accordance with the corresponding norms, must be required from financing applicants and debtors, under any of the credit modalities, when such information does not have an impact on the determination of the debtors' payment capacity.
Not sending, sending outside the established deadline, or sending incomplete or inaccurate, the reports, minutes, reports, forms, or other physical, electronic, or other medium information that supervised entities must remit to the Superintendence, occasionally or periodically, in accordance with the law, norms, or instructions of the Superintendent.
Not delivering, publishing, or disclosing, in accordance with what is established in the Law or applicable regulations, or delivering, publishing, or disclosing outside the deadlines, the following:
i. The list of delinquent debtors and in judicial collection, as well as those clients who issue checks without funds.
ii. The deposit regulation of the institution at the moment the bank opens an account in favor of the client.
Any other infractions of equal or similar gravity that are committed against the legal, regulatory, and other provisions applicable to them, as well as instructions of the Superintendent.
In these cases, fines between zero point zero zero one percent (0.001%) and zero point one two five percent (0.125%) of the supervised entity's equity will be applied. b. Moderate infractions: Moderate infractions are those that affect the financial situation of the supervised entity, but do not significantly impact its liquidity and solvency nor the deposits and investments of the public, or that constitute practices that weaken its corporate governance, impacting an increase in its operational, legal, reputational, among other risks, that are not within those classified as serious in the following numeral, such as:
Recidivism of any of the already sanctioned minor infractions.
Not presenting or presenting incorrectly to the Superintendence, within the established deadline, the integration of shareholders, amount, and participation of each of them in the paid-in capital of the institution in question, in accordance with its records.
Not valuing mortgage and/or movable guarantees of credits when such valuation is required in accordance with the norm.
Extending or restructuring credits without complying with the legal and regulatory requirements established.
Not presenting, presenting incorrectly, or presenting outside the established deadline, to the Superintendence, the report containing the valuation of assets, contingent operations, and other risk exposures of the supervised entity in question.
Presenting, when required by the Superintendence, incomplete or undocumentated credit files according to their nature.
Failing to comply with resolutions that order actions aimed at correcting any deficiency other than equity and liquidity situation.
Submitting their annual financial statements late to the examination of an external auditor, failing to comply with the legal framework.
Publishing audited financial statements late, failing to comply with the law and regulations.
Any other infractions of equal or similar gravity that are committed against the legal, regulatory, and other provisions applicable to them, as well as instructions of the Superintendent.
In these cases, fines between zero point one two five one percent (0.1251%) and zero point two five percent (0.25%) of the supervised entity's equity will be applied.
c. Serious infractions: Serious infractions are those that affect the financial situation of the supervised entity and significantly impact its liquidity and solvency or the deposits and investments of the public; or that constitute practices that weaken its corporate governance, impacting a significant increase in its operational, legal, reputational, among other risks, as well as those in which provisions that prohibit or limit operations, transactions, records, or without observing the conditions established in the laws or norms are not complied with, considering as such those indicated below:
Recidivism of any of the already sanctioned moderate infractions.
Carrying out acts or operations without the authorization of the Superintendence, when this is required by law or norms, or carrying them out without observing the conditions established in them.
Revaluing real estate without complying with the established procedure.
Valuing or accepting valuations of assets, contingencies, and other risk exposures without adjusting to the legal and regulatory provisions established.
Carrying out or exercising activities foreign to their legally established corporate purpose.
Canceling contributions to the Superintendence outside the established deadlines.
Carrying out acts or operations prohibited by the laws, norms, and other applicable regulations.
Lacking the legally required accounting, keeping it without complying with the accounting norms and other applicable regulations issued, recognized, or authorized by the Superintendence, or with irregularities that prevent knowing the equity, reserve, economic, and financial situation of the supervised entity.
Carrying out operations to evade reserves, among them, reporting balances of obligations for daily deposit reserves deducted from these the balances of overdrafts in checking accounts or presenting balances lower than the obligations for deposits by using or parametrizing incorrect accounts on any day.
Not registering in the corresponding Public Registry, the guarantees received for credit operations.
Denying presentation to the Superintendence of accounting books, as well as any other information required of it in accordance with the law.
Failing to comply with the obligation to submit their annual financial statements to the examination of an external auditor in accordance with the legal framework.
Not publishing audited financial statements in accordance with the law and regulations.
Presenting or publishing financial information that differs from their real situation or leads to confusion of the public, investor, and other users; as well as not suspending, modifying, or rectifying it, or as instructed by the Superintendent.
Transacting with related parties under preferential conditions or without complying with the legal and regulatory provisions established for active, contingent, and services provided or received operations.
Lack of minimum information that, in accordance with the law and corresponding norms, must be required from financing applicants and debtors, when such information has an impact on the determination of their payment capacity and/or the recoverability of the credit.
The refusal or resistance to the Superintendence's action in its surveillance and inspection tasks, with written request.
Not registering or registering incorrectly (or at the appropriate time) the provisions for assets and liabilities, expenses, and other risk exposures, as well as the adjustments resolved by the Superintendent and by internal and external auditors.
Not registering or registering incorrectly (or at the appropriate time) the reserves required by the legal framework.
Non-compliance with resolutions that prohibit operations or order actions aimed at correcting equity, liquidity, or corporate governance strengthening deficiencies and other provisions derived from them.
Registering shareholders without the Superintendent's authorization.
Interrupting or not providing public attention on working days, in contravention of what is established in the norm on the regulation of working days.
For transacting with related and unrelated parties in violation of legal limits.
Granting credits without guarantee, without prejudice to those activities authorized by the Superintendence in this matter for credits that do not exceed five million córdobas (C$5,000,000.00).
Failing to comply with agreements or conventions signed with the institution's workers, among them, not registering or registering incorrectly the salary obligations or benefits agreed upon with them.
When it does not deliver in time and form the information requirements that the Superintendent or its delegates make to the supervised entity, either for the performance of its on-site, remote, or extra-situ supervision activities or for the monitoring of compliance with periodic obligations or those that are specifically required of them, for the fulfillment of their inspection tasks.
Any other infractions of equal or similar gravity that are committed against the legal, regulatory, and other provisions applicable to them, as well as instructions of the Superintendent.

In these cases, a fine between zero point two five one percent (0.251%) and zero point five percent (0.5%) of the supervised entity's equity will be applied.
The infractions established in this article may be applied individually for each fault observed and/or for each branch where the fault is generated and/or for each day it persists.
The sanctions referred to in this article are without prejudice to the Superintendent's powers to apply other measures contemplated in Law No. 561, based on what is provided in Article 171 thereof.
Article 5. Imposition of fine on shareholders, directors, managers, officials, employees, and internal auditors. – Committing a serious infraction, the shareholder, director, member of

the Board, manager, official, employee, or internal auditor of the supervised entity, who, by action or omission, causes or contributes to the commission of an infraction by the supervised entity, or who fails to comply with the obligations imposed on them by the laws, regulations, resolutions, or instructions of the Superintendence, will be subject to the following sanctions:
a. Shareholders: When shareholders commit infractions related to the acquisition, holding, or disposal of shares or equity interests in supervised entities, or when they fail to comply with the obligations to inform the Superintendence about their participation in the capital of the supervised entity, they will be subject to fines between zero point one two five one percent (0.1251%) and zero point two five percent (0.25%) of the value of the shares or equity interests involved in the infraction. b. Directors, Managers, and Officials: When directors, managers, or officials commit infractions related to the management, administration, or supervision of the supervised entity, or when they fail to comply with the obligations imposed on them by the laws, regulations, resolutions, or instructions of the Superintendence, they will be subject to fines between zero point one two five one percent (0.1251%) and zero point two five percent (0.25%) of their annual salary or remuneration.
c. Employees and Internal Auditors: When employees or internal auditors commit infractions related to their functions within the supervised entity, or when they fail to comply with the obligations imposed on them by the laws, regulations, resolutions, or instructions of the Superintendence, they will be subject to fines between zero point one two five one percent (0.1251%) and zero point two five percent (0.25%) of their monthly salary or remuneration.
The sanctions referred to in this article are without prejudice to the Superintendent's powers to apply other measures contemplated in Law No. 561, based on what is provided in Article 171 thereof.
Article 6. Imposition of fine for infractions to the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction. - When supervised entities or obligated subjects under the supervision of the Superintendence commit infractions to the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, the Superintendent may impose fines in accordance with the following:
a. Minor infractions: Minor infractions are those that do not have a significant impact on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, such as:

Not presenting or presenting incorrectly the reports, forms, or other information required by the Superintendence in accordance with the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
Not implementing or implementing incorrectly the internal controls, procedures, and mechanisms established to prevent asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
Not training or training incorrectly the employees and officials of the supervised entity or obligated subject on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
Not appointing or appointing incorrectly the asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction prevention administrator.
Not presenting or presenting incorrectly the annual report on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
Any other infractions of equal or similar gravity that are committed against the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
In these cases, fines between zero point one two five one percent (0.1251%) and zero point two five percent (0.25%) of the supervised entity's equity will be applied. b. Moderate infractions: Moderate infractions are those that have a significant impact on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, such as:
Recidivism of any of the already sanctioned minor infractions.
Not presenting or presenting incorrectly the reports, forms, or other information required by the Superintendence in accordance with the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such information is relevant to the detection of suspicious transactions.
Not implementing or implementing incorrectly the internal controls, procedures, and mechanisms established to prevent asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such controls are relevant to the detection of suspicious transactions.
Not training or training incorrectly the employees and officials of the supervised entity or obligated subject on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such training is relevant to the detection of suspicious transactions.
Not appointing or appointing incorrectly the asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction prevention administrator, when such appointment is relevant to the detection of suspicious transactions.
Not presenting or presenting incorrectly the annual report on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such report is relevant to the detection of suspicious transactions.
Any other infractions of equal or similar gravity that are committed against the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
In these cases, fines between zero point two five one percent (0.251%) and zero point five percent (0.5%) of the supervised entity's equity will be applied.
c. Serious infractions: Serious infractions are those that have a significant impact on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, such as:
Recidivism of any of the already sanctioned moderate infractions.
Not presenting or presenting incorrectly the reports, forms, or other information required by the Superintendence in accordance with the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such information is relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Not implementing or implementing incorrectly the internal controls, procedures, and mechanisms established to prevent asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such controls are relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Not training or training incorrectly the employees and officials of the supervised entity or obligated subject on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such training is relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Not appointing or appointing incorrectly the asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction prevention administrator, when such appointment is relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Not presenting or presenting incorrectly the annual report on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such report is relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Any other infractions of equal or similar gravity that are committed against the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
In these cases, fines between zero point five percent (0.5%) and one percent (1.0%) of the supervised entity's equity will be applied.
The sanctions referred to in this article are without prejudice to the Superintendent's powers to apply other measures contemplated in Law No. 977, based on what is provided in Article 36 thereof.
Article 7. Imposition of fine for infractions to the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction by natural and legal persons. - When natural or legal persons commit infractions to the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, the Superintendent may impose fines in accordance with the following:
a. Minor infractions: Minor infractions are those that do not have a significant impact on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, such as:
Not presenting or presenting incorrectly the reports, forms, or other information required by the Superintendence in accordance with the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
Not implementing or implementing incorrectly the internal controls, procedures, and mechanisms established to prevent asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
Not training or training incorrectly the employees and officials of the supervised entity or obligated subject on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
Not appointing or appointing incorrectly the asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction prevention administrator.
Not presenting or presenting incorrectly the annual report on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
Any other infractions of equal or similar gravity that are committed against the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
In these cases, fines between zero point one two five one percent (0.1251%) and zero point two five percent (0.25%) of the natural or legal person's equity or annual income will be applied. b. Moderate infractions: Moderate infractions are those that have a significant impact on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, such as:
Recidivism of any of the already sanctioned minor infractions.
Not presenting or presenting incorrectly the reports, forms, or other information required by the Superintendence in accordance with the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such information is relevant to the detection of suspicious transactions.
Not implementing or implementing incorrectly the internal controls, procedures, and mechanisms established to prevent asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such controls are relevant to the detection of suspicious transactions.
Not training or training incorrectly the employees and officials of the supervised entity or obligated subject on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such training is relevant to the detection of suspicious transactions.
Not appointing or appointing incorrectly the asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction prevention administrator, when such appointment is relevant to the detection of suspicious transactions.
Not presenting or presenting incorrectly the annual report on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such report is relevant to the detection of suspicious transactions.
Any other infractions of equal or similar gravity that are committed against the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
In these cases, fines between zero point two five one percent (0.251%) and zero point five percent (0.5%) of the natural or legal person's equity or annual income will be applied.
c. Serious infractions: Serious infractions are those that have a significant impact on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, such as:
Recidivism of any of the already sanctioned moderate infractions.
Not presenting or presenting incorrectly the reports, forms, or other information required by the Superintendence in accordance with the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such information is relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Not implementing or implementing incorrectly the internal controls, procedures, and mechanisms established to prevent asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such controls are relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Not training or training incorrectly the employees and officials of the supervised entity or obligated subject on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such training is relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Not appointing or appointing incorrectly the asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction prevention administrator, when such appointment is relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Not presenting or presenting incorrectly the annual report on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such report is relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Any other infractions of equal or similar gravity that are committed against the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
In these cases, fines between zero point five percent (0.5%) and one percent (1.0%) of the natural or legal person's equity or annual income will be applied.
The sanctions referred to in this article are without prejudice to the Superintendent's powers to apply other measures contemplated in Law No. 977, based on what is provided in Article 36 thereof.
Article 8. Imposition of fine for infractions to the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction by natural and legal persons. - When natural or legal persons commit infractions to the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, the Superintendent may impose fines in accordance with the following:
a. Minor infractions: Minor infractions are those that do not have a significant impact on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, such as:
Not presenting or presenting incorrectly the reports, forms, or other information required by the Superintendence in accordance with the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
Not implementing or implementing incorrectly the internal controls, procedures, and mechanisms established to prevent asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
Not training or training incorrectly the employees and officials of the supervised entity or obligated subject on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
Not appointing or appointing incorrectly the asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction prevention administrator.
Not presenting or presenting incorrectly the annual report on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
Any other infractions of equal or similar gravity that are committed against the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
In these cases, fines between zero point one two five one percent (0.1251%) and zero point two five percent (0.25%) of the natural or legal person's equity or annual income will be applied. b. Moderate infractions: Moderate infractions are those that have a significant impact on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, such as:
Recidivism of any of the already sanctioned minor infractions.
Not presenting or presenting incorrectly the reports, forms, or other information required by the Superintendence in accordance with the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such information is relevant to the detection of suspicious transactions.
Not implementing or implementing incorrectly the internal controls, procedures, and mechanisms established to prevent asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such controls are relevant to the detection of suspicious transactions.
Not training or training incorrectly the employees and officials of the supervised entity or obligated subject on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such training is relevant to the detection of suspicious transactions.
Not appointing or appointing incorrectly the asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction prevention administrator, when such appointment is relevant to the detection of suspicious transactions.
Not presenting or presenting incorrectly the annual report on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such report is relevant to the detection of suspicious transactions.
Any other infractions of equal or similar gravity that are committed against the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
In these cases, fines between zero point two five one percent (0.251%) and zero point five percent (0.5%) of the natural or legal person's equity or annual income will be applied.
c. Serious infractions: Serious infractions are those that have a significant impact on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, such as:
Recidivism of any of the already sanctioned moderate infractions.
Not presenting or presenting incorrectly the reports, forms, or other information required by the Superintendence in accordance with the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such information is relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Not implementing or implementing incorrectly the internal controls, procedures, and mechanisms established to prevent asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such controls are relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Not training or training incorrectly the employees and officials of the supervised entity or obligated subject on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such training is relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Not appointing or appointing incorrectly the asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction prevention administrator, when such appointment is relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Not presenting or presenting incorrectly the annual report on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such report is relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Any other infractions of equal or similar gravity that are committed against the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
In these cases, fines between zero point five percent (0.5%) and one percent (1.0%) of the natural or legal person's equity or annual income will be applied.
The sanctions referred to in this article are without prejudice to the Superintendent's powers to apply other measures contemplated in Law No. 977, based on what is provided in Article 36 thereof.
Article 9. Imposition of fine for infractions to the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction by natural and legal persons. - When natural or legal persons commit infractions to the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, the Superintendent may impose fines in accordance with the following:
a. Minor infractions: Minor infractions are those that do not have a significant impact on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, such as:
Not presenting or presenting incorrectly the reports, forms, or other information required by the Superintendence in accordance with the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
Not implementing or implementing incorrectly the internal controls, procedures, and mechanisms established to prevent asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
Not training or training incorrectly the employees and officials of the supervised entity or obligated subject on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
Not appointing or appointing incorrectly the asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction prevention administrator.
Not presenting or presenting incorrectly the annual report on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
Any other infractions of equal or similar gravity that are committed against the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
In these cases, fines between zero point one two five one percent (0.1251%) and zero point two five percent (0.25%) of the natural or legal person's equity or annual income will be applied. b. Moderate infractions: Moderate infractions are those that have a significant impact on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, such as:
Recidivism of any of the already sanctioned minor infractions.
Not presenting or presenting incorrectly the reports, forms, or other information required by the Superintendence in accordance with the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such information is relevant to the detection of suspicious transactions.
Not implementing or implementing incorrectly the internal controls, procedures, and mechanisms established to prevent asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such controls are relevant to the detection of suspicious transactions.
Not training or training incorrectly the employees and officials of the supervised entity or obligated subject on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such training is relevant to the detection of suspicious transactions.
Not appointing or appointing incorrectly the asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction prevention administrator, when such appointment is relevant to the detection of suspicious transactions.
Not presenting or presenting incorrectly the annual report on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such report is relevant to the detection of suspicious transactions.
Any other infractions of equal or similar gravity that are committed against the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
In these cases, fines between zero point two five one percent (0.251%) and zero point five percent (0.5%) of the natural or legal person's equity or annual income will be applied.
c. Serious infractions: Serious infractions are those that have a significant impact on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, such as:
Recidivism of any of the already sanctioned moderate infractions.
Not presenting or presenting incorrectly the reports, forms, or other information required by the Superintendence in accordance with the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such information is relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Not implementing or implementing incorrectly the internal controls, procedures, and mechanisms established to prevent asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such controls are relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Not training or training incorrectly the employees and officials of the supervised entity or obligated subject on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such training is relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Not appointing or appointing incorrectly the asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction prevention administrator, when such appointment is relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Not presenting or presenting incorrectly the annual report on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such report is relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Any other infractions of equal or similar gravity that are committed against the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
In these cases, fines between zero point five percent (0.5%) and one percent (1.0%) of the natural or legal person's equity or annual income will be applied.
The sanctions referred to in this article are without prejudice to the Superintendent's powers to apply other measures contemplated in Law No. 977, based on what is provided in Article 36 thereof.
Article 10. Imposition of fine for infractions to the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction by natural and legal persons. - When natural or legal persons commit infractions to the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, the Superintendent may impose fines in accordance with the following:
a. Minor infractions: Minor infractions are those that do not have a significant impact on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, such as:
Not presenting or presenting incorrectly the reports, forms, or other information required by the Superintendence in accordance with the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
Not implementing or implementing incorrectly the internal controls, procedures, and mechanisms established to prevent asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
Not training or training incorrectly the employees and officials of the supervised entity or obligated subject on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
Not appointing or appointing incorrectly the asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction prevention administrator.
Not presenting or presenting incorrectly the annual report on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
Any other infractions of equal or similar gravity that are committed against the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
In these cases, fines between zero point one two five one percent (0.1251%) and zero point two five percent (0.25%) of the natural or legal person's equity or annual income will be applied. b. Moderate infractions: Moderate infractions are those that have a significant impact on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, such as:
Recidivism of any of the already sanctioned minor infractions.
Not presenting or presenting incorrectly the reports, forms, or other information required by the Superintendence in accordance with the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such information is relevant to the detection of suspicious transactions.
Not implementing or implementing incorrectly the internal controls, procedures, and mechanisms established to prevent asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such controls are relevant to the detection of suspicious transactions.
Not training or training incorrectly the employees and officials of the supervised entity or obligated subject on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such training is relevant to the detection of suspicious transactions.
Not appointing or appointing incorrectly the asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction prevention administrator, when such appointment is relevant to the detection of suspicious transactions.
Not presenting or presenting incorrectly the annual report on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such report is relevant to the detection of suspicious transactions.
Any other infractions of equal or similar gravity that are committed against the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
In these cases, fines between zero point two five one percent (0.251%) and zero point five percent (0.5%) of the natural or legal person's equity or annual income will be applied.
c. Serious infractions: Serious infractions are those that have a significant impact on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, such as:
Recidivism of any of the already sanctioned moderate infractions.
Not presenting or presenting incorrectly the reports, forms, or other information required by the Superintendence in accordance with the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such information is relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Not implementing or implementing incorrectly the internal controls, procedures, and mechanisms established to prevent asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such controls are relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Not training or training incorrectly the employees and officials of the supervised entity or obligated subject on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such training is relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Not appointing or appointing incorrectly the asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction prevention administrator, when such appointment is relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Not presenting or presenting incorrectly the annual report on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such report is relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Any other infractions of equal or similar gravity that are committed against the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
In these cases, fines between zero point five percent (0.5%) and one percent (1.0%) of the natural or legal person's equity or annual income will be applied.
The sanctions referred to in this article are without prejudice to the Superintendent's powers to apply other measures contemplated in Law No. 977, based on what is provided in Article 36 thereof.
Article 11. Imposition of fine for infractions to the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction by natural and legal persons. - When natural or legal persons commit infractions to the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, the Superintendent may impose fines in accordance with the following:
a. Minor infractions: Minor infractions are those that do not have a significant impact on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, such as:
Not presenting or presenting incorrectly the reports, forms, or other information required by the Superintendence in accordance with the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
Not implementing or implementing incorrectly the internal controls, procedures, and mechanisms established to prevent asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
Not training or training incorrectly the employees and officials of the supervised entity or obligated subject on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
Not appointing or appointing incorrectly the asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction prevention administrator.
Not presenting or presenting incorrectly the annual report on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
Any other infractions of equal or similar gravity that are committed against the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
In these cases, fines between zero point one two five one percent (0.1251%) and zero point two five percent (0.25%) of the natural or legal person's equity or annual income will be applied. b. Moderate infractions: Moderate infractions are those that have a significant impact on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, such as:
Recidivism of any of the already sanctioned minor infractions.
Not presenting or presenting incorrectly the reports, forms, or other information required by the Superintendence in accordance with the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such information is relevant to the detection of suspicious transactions.
Not implementing or implementing incorrectly the internal controls, procedures, and mechanisms established to prevent asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such controls are relevant to the detection of suspicious transactions.
Not training or training incorrectly the employees and officials of the supervised entity or obligated subject on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such training is relevant to the detection of suspicious transactions.
Not appointing or appointing incorrectly the asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction prevention administrator, when such appointment is relevant to the detection of suspicious transactions.
Not presenting or presenting incorrectly the annual report on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such report is relevant to the detection of suspicious transactions.
Any other infractions of equal or similar gravity that are committed against the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
In these cases, fines between zero point two five one percent (0.251%) and zero point five percent (0.5%) of the natural or legal person's equity or annual income will be applied.
c. Serious infractions: Serious infractions are those that have a significant impact on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, such as:
Recidivism of any of the already sanctioned moderate infractions.
Not presenting or presenting incorrectly the reports, forms, or other information required by the Superintendence in accordance with the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such information is relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Not implementing or implementing incorrectly the internal controls, procedures, and mechanisms established to prevent asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such controls are relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Not training or training incorrectly the employees and officials of the supervised entity or obligated subject on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such training is relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Not appointing or appointing incorrectly the asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction prevention administrator, when such appointment is relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Not presenting or presenting incorrectly the annual report on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such report is relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Any other infractions of equal or similar gravity that are committed against the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
In these cases, fines between zero point five percent (0.5%) and one percent (1.0%) of the natural or legal person's equity or annual income will be applied.
The sanctions referred to in this article are without prejudice to the Superintendent's powers to apply other measures contemplated in Law No. 977, based on what is provided in Article 36 thereof.
Article 12. Imposition of fine for infractions to the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction by natural and legal persons. - When natural or legal persons commit infractions to the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, the Superintendent may impose fines in accordance with the following:
a. Minor infractions: Minor infractions are those that do not have a significant impact on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, such as:
Not presenting or presenting incorrectly the reports, forms, or other information required by the Superintendence in accordance with the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
Not implementing or implementing incorrectly the internal controls, procedures, and mechanisms established to prevent asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
Not training or training incorrectly the employees and officials of the supervised entity or obligated subject on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
Not appointing or appointing incorrectly the asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction prevention administrator.
Not presenting or presenting incorrectly the annual report on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
Any other infractions of equal or similar gravity that are committed against the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
In these cases, fines between zero point one two five one percent (0.1251%) and zero point two five percent (0.25%) of the natural or legal person's equity or annual income will be applied. b. Moderate infractions: Moderate infractions are those that have a significant impact on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, such as:
Recidivism of any of the already sanctioned minor infractions.
Not presenting or presenting incorrectly the reports, forms, or other information required by the Superintendence in accordance with the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such information is relevant to the detection of suspicious transactions.
Not implementing or implementing incorrectly the internal controls, procedures, and mechanisms established to prevent asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such controls are relevant to the detection of suspicious transactions.
Not training or training incorrectly the employees and officials of the supervised entity or obligated subject on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such training is relevant to the detection of suspicious transactions.
Not appointing or appointing incorrectly the asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction prevention administrator, when such appointment is relevant to the detection of suspicious transactions.
Not presenting or presenting incorrectly the annual report on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such report is relevant to the detection of suspicious transactions.
Any other infractions of equal or similar gravity that are committed against the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
In these cases, fines between zero point two five one percent (0.251%) and zero point five percent (0.5%) of the natural or legal person's equity or annual income will be applied.
c. Serious infractions: Serious infractions are those that have a significant impact on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, such as:
Recidivism of any of the already sanctioned moderate infractions.
Not presenting or presenting incorrectly the reports, forms, or other information required by the Superintendence in accordance with the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such information is relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Not implementing or implementing incorrectly the internal controls, procedures, and mechanisms established to prevent asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such controls are relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Not training or training incorrectly the employees and officials of the supervised entity or obligated subject on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such training is relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Not appointing or appointing incorrectly the asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction prevention administrator, when such appointment is relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Not presenting or presenting incorrectly the annual report on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such report is relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Any other infractions of equal or similar gravity that are committed against the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
In these cases, fines between zero point five percent (0.5%) and one percent (1.0%) of the natural or legal person's equity or annual income will be applied.
The sanctions referred to in this article are without prejudice to the Superintendent's powers to apply other measures contemplated in Law No. 977, based on what is provided in Article 36 thereof.
Article 13. Imposition of fine for infractions to the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction by natural and legal persons. - When natural or legal persons commit infractions to the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, the Superintendent may impose fines in accordance with the following:
a. Minor infractions: Minor infractions are those that do not have a significant impact on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, such as:
Not presenting or presenting incorrectly the reports, forms, or other information required by the Superintendence in accordance with the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
Not implementing or implementing incorrectly the internal controls, procedures, and mechanisms established to prevent asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
Not training or training incorrectly the employees and officials of the supervised entity or obligated subject on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
Not appointing or appointing incorrectly the asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction prevention administrator.
Not presenting or presenting incorrectly the annual report on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
Any other infractions of equal or similar gravity that are committed against the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
In these cases, fines between zero point one two five one percent (0.1251%) and zero point two five percent (0.25%) of the natural or legal person's equity or annual income will be applied. b. Moderate infractions: Moderate infractions are those that have a significant impact on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, such as:
Recidivism of any of the already sanctioned minor infractions.
Not presenting or presenting incorrectly the reports, forms, or other information required by the Superintendence in accordance with the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such information is relevant to the detection of suspicious transactions.
Not implementing or implementing incorrectly the internal controls, procedures, and mechanisms established to prevent asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such controls are relevant to the detection of suspicious transactions.
Not training or training incorrectly the employees and officials of the supervised entity or obligated subject on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such training is relevant to the detection of suspicious transactions.
Not appointing or appointing incorrectly the asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction prevention administrator, when such appointment is relevant to the detection of suspicious transactions.
Not presenting or presenting incorrectly the annual report on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such report is relevant to the detection of suspicious transactions.
Any other infractions of equal or similar gravity that are committed against the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
In these cases, fines between zero point two five one percent (0.251%) and zero point five percent (0.5%) of the natural or legal person's equity or annual income will be applied.
c. Serious infractions: Serious infractions are those that have a significant impact on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, such as:
Recidivism of any of the already sanctioned moderate infractions.
Not presenting or presenting incorrectly the reports, forms, or other information required by the Superintendence in accordance with the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such information is relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Not implementing or implementing incorrectly the internal controls, procedures, and mechanisms established to prevent asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such controls are relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Not training or training incorrectly the employees and officials of the supervised entity or obligated subject on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such training is relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Not appointing or appointing incorrectly the asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction prevention administrator, when such appointment is relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Not presenting or presenting incorrectly the annual report on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, when such report is relevant to the detection of suspicious transactions, and such failure is intentional or grossly negligent.
Any other infractions of equal or similar gravity that are committed against the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
In these cases, fines between zero point five percent (0.5%) and one percent (1.0%) of the natural or legal person's equity or annual income will be applied.
The sanctions referred to in this article are without prejudice to the Superintendent's powers to apply other measures contemplated in Law No. 977, based on what is provided in Article 36 thereof.
Article 14. Imposition of fine for infractions to the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction by natural and legal persons. - When natural or legal persons commit infractions to the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, the Superintendent may impose fines in accordance with the following:
a. Minor infractions: Minor infractions are those that do not have a significant impact on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, such as:
Not presenting or presenting incorrectly the reports, forms, or other information required by the Superintendence in accordance with the laws, regulations, and resolutions on the prevention of asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
Not implementing or implementing incorrectly the internal controls, procedures, and mechanisms established to prevent asset laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.
Not training or

General Rule on Imposition of Fines on Banking Entities and Other Supervised Natural and Legal Persons

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