RegAlert2021-07-27 | Resolução BCB 119Added
BCB Resolution No. 119 — Amends Circular No. 3,978 of January 23, 2020, regarding internal policies, procedures, and controls for preventing money laundering and terrorist financing
BCB Resolution No. 119 amends Circular No. 3,978 to update the customer qualification procedures for institutions authorized by the Central Bank of Brazil. The amendments require the collection of full name, CPF, CNPJ, residence or headquarters location, and financial capacity information. It also establishes specific exemptions from certain identification requirements for open companies, non-profit entities, cooperatives, and specific regulated investment funds, while mandating that authorized value transport companies be identified by their CNPJ and corporate name as the bearer of resources.
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BCB RESOLUTION NO. 119, OF JULY 27, 2021
Amends Circular No. 3,978, of January 23, 2020, which provides for the policies, procedures, and internal controls to be adopted by institutions authorized to operate by the Central Bank of Brazil, aiming to prevent the use of the financial system for the practice of the crimes of "money laundering" or concealment of assets, rights, and values, as provided for in Law No. 9,613, of March 3, 1998, and terrorist financing, provided for in Law No. 13,260, of March 16, 2016.
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This document amends: Circular No. 3978 — Internal Policy, Procedures, and Controls for Preventing Money Laundering and Terrorist Financing
Source: Banco Central do Brasil — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works