Circular No. 2852 — Procedures for Prevention and Combating Activities Related to Crimes under Law No. 9,613 of March 3, 1998

CIRCULAR NO. 002852

Dispenses on the procedures to be adopted in the prevention and combating of activities related to the crimes provided for in Law No. 9,613, of 03.03.1998.

The Collegiate Board of the Central Bank of Brazil, in a session held on 02.12.1998, based on arts. 10 and 11 of Law No. 9,613, of 03.03.1998,

D E C I D E D:

Art. 1. Financial institutions and other entities authorized to operate by the Central Bank of Brazil are obliged to:

I - keep updated the registration information of their respective clients, observing, when applicable, the requirements and responsibilities defined in Resolution No. 2,025, of 24.11.1993, and subsequent amendments;

II - maintain consolidated internal controls and records that allow verifying, in addition to the adequate identification of the client, the compatibility between the corresponding movement of resources, economic activity, and financial capacity;

III - keep records, in the manner to be established by the Central Bank of Brazil, of operations involving national or foreign currency, securities, metals, or any other asset capable of being converted into money.

Paragraph 1. In addition to the institutions and entities referred to in the "caput", the following are subject to the provisions of this Circular:

I - consortium administrators;

II - persons accredited or authorized by the Central Bank of Brazil to operate in the "Floating Exchange Rate Market", including entities or companies issuing international validity credit cards, travel agencies, and tourism accommodation means;

III - agencies, branches, or subsidiaries and representatives of financial institutions headquartered abroad installed in the country.

Paragraph 2. In the event that the client is a legal entity, the registration information referred to in item I of the "caput" must cover the natural persons authorized to represent it, as well as their controllers.

Paragraph 3. Regardless of what is established in item III of the "caput", the following must be registered:

I - operations that, carried out with the same person, conglomerate, or group, in the same calendar month, exceed, by institution or entity, in their entirety, the limit established in art. 4, item I;

II - operations whose current account holder presents credits or debits that, due to their habitual nature, value, and form, constitute an artifice intended to circumvent the identification mechanisms in question.

Art. 2. In addition to the measures established in art. 1, the persons mentioned therein must pay special attention to operations or proposals whose characteristics, regarding the parties involved, values, methods of execution, and instruments used, or which, due to the lack of economic or legal basis, may indicate the existence of a crime, as provided for in Law No. 9,613, of 03.03.1998, or relate to it.

Sole Paragraph. For the purposes of this article, the Exchange Department (DECAM), the Supervision Department (DEFIS), and the Financial System Standards Department (DENOR) will issue regulations describing operations and situations that may constitute evidence of the crimes provided for in the aforementioned Law.

Art. 3. The registrations and records referred to in art. 1 must be maintained and preserved for a minimum period of 5 (five) years counted from the first day of the year following the year of closing current accounts or concluding operations.

Art. 4. The following must be communicated to the Central Bank of Brazil, in the manner to be determined, when the characteristics described in art. 2 are verified:

I - the operations referred to in art. 1, item III, whose value is equal to or greater than R$10,000.00 (ten thousand reais);

II - the operations referred to in art. 1, paragraph 3, item I;

III - the operations referred to in art. 2, as well as proposals for their execution.

Paragraph 1. The communication referred to in this article must be carried out without giving notice to the involved parties.

Paragraph 2. Good faith communications, as provided for in art. 11, paragraph 2, of Law No. 9,613/98, will not entail civil or administrative responsibility for the institutions and entities mentioned in art. 1, their controllers, administrators, and employees.

Art. 5. The institutions and entities mentioned in art. 1 must develop and implement internal control procedures to detect operations that constitute evidence of the occurrence of the crimes provided for in the aforementioned Law No. 9,613/98, promoting adequate training for their employees.

Art. 6. To the institutions and entities mentioned in art. 1, as well as to their administrators and employees, who fail to comply with the obligations established in this Circular, the sanctions provided for in art. 12 of the aforementioned Law No. 9,613/98, in the manner provided for in Decree No. 2,799, of 08.10.1998, will be applied, cumulatively or not, by the Central Bank of Brazil.

Art. 7. The institutions and entities mentioned in art. 1 must indicate to the Central Bank of Brazil a director or manager, as applicable, responsible for the duty to implement and monitor compliance with the measures established in this Circular, as well as to promote the communications referred to in art. 4.

Art. 8. This Circular enters into force on the date of its publication, producing effects from 01.03.1999, when Circular No. 2,207, of 30.07.1992, will be revoked.

Brasília, December 3, 1998

Gustavo H. B. Franco
President