Circular OPASI 2-406, RUNOR 1-902, Communications A 4971 and 5000. Extension and Modification of Applicable Rules

"2009 - Year of Tribute to Raúl SCALABRINI ORTIZ" COMMUNICATION "A" 5022 22/12/2009 TO FINANCIAL ENTITIES:
TO COOPERATIVE CREDIT UNIONS (LAW 26.173):
Ref.: Circular
OPASI 2 - 406
RUNOR 1 - 902
Communications "A" 4971 and 5000. Extension and modification of the applicable rules.

---

We address you to inform you that this Institution has adopted the following resolution:

"1. Order that financial entities must identify operations carried out on their own account or on behalf of third parties, regarding check deposits for amounts exceeding $ 1,000 that are identified by the corresponding endorsement, according to the single procedure that each entity chooses to implement for the aforementioned purposes, such as the identification of these movements in the same account used by the principal for the deposit of their own checks or through the opening of an additional account for the provision of document collection management services or other alternative procedures determined for this purpose. Compliance with the foregoing provisions will be mandatory starting from 1.4.2010.

Likewise, with respect to those clients who are already identified as of 4.1.2010 as subjects whose activity includes the management of value collection, financial entities must observe the application of the endorsement in procurance on the documents presented for collection by the latter, through the procedure they adopt for this purpose.

2. Establish that when documents are identified as collection management through the corresponding legend and the information recorded on the reverse side is incomplete -as established in the third paragraph of points 5.1.2. of the "Regulation of the bank current account" and 4.1.2. of the rules of "Demand accounts opened in cooperative credit unions" and in the second paragraph of points 1.6.1.5. and 3.7.1.5. and item v) of point 4.4.5.1. of the rules of "Savings deposits, payment of remuneration and special deposits"-, such situation shall not be considered as a cause for rejection of said documents, except when they are checks issued with the clause "non-order".

Without prejudice to the foregoing, entities must take the necessary means to verify that such situations are not repetitive and do not contribute to undermining the objective to which these provisions are oriented, with the reference to "know your customer" policies being applicable for this purpose."

-2-
In accordance with the above and as established by point 1. of Communication "A" 5000, it is recalled that starting from 4.1.2010, the incorporation of data to be recorded on the reverse side of values delivered by their beneficiary to a third party for collection management will enter into force. Subjects subject to this obligation are, indistinctly, the principal or orderer and the agent or manager. Consequently, entities must take the necessary means to inform their clients of the measures indicated, with as much advance notice as possible before the mentioned effective date.

Finally, we send you the sheets that, in replacement of those previously provided, must be incorporated into the "Regulation of the bank current account" and the rules on "Demand accounts opened in cooperative credit unions", "Savings deposits, payment of remuneration and special deposits" and "Prevention of money laundering and other illicit activities". Likewise, it is recalled that on this Institution's website www.bcra.gov.ar, accessing "regulations" ("ordered texts"), the modifications made with texts highlighted in special characters (strikethrough and bold) will be found.

We greet you very respectfully.
CENTRAL BANK OF THE ARGENTINE REPUBLIC
Darío C. Stefanelli José I. Rutman
Manager of Issuance
Manager of Norms
General Manager of Norms

ANNEX

1.5.1.6. Communicate to the entity any modification of their social contracts, statutes, change of authorities or powers and the revocations of the latter, in particular when referring to the persons mentioned in point 1.3.2.6.
1.5.1.7. Return to the entity all blank checks it holds at the time of requesting the closure of the account or within 5 business days of the date of having received the communication of the suspension of the check payment service as a prior measure to the closure of the account or of the closure of the account.
1.5.1.8. Integrate checks in pesos, draft them in the national language and sign them by hand or by the alternative means authorized.
Checks carrying more than 3 signatures will not be admitted.
1.5.2. Obligations of the entity.
1.5.2.1. Keep accounts up to date.
1.5.2.2. Credit on the day the amounts delivered for the credit of the current account and the check deposits within the prevailing compensation periods.
1.5.2.3. Send to the account holder, at most 8 calendar days after the end of each month and/or the shorter period established and under the conditions agreed upon, a statement with the detail of each of the movements that take place in the account -debits and credits-, whatever their concept, identifying the different types of transaction through a specific code that each entity implements for this purpose and the balances recorded in the period it covers, asking for their written consent. It must also be identified in the corresponding statement the operations carried out on own account or on behalf of third parties, to the extent that they are check deposits for amounts exceeding $ 1,000 and that are identified by the corresponding endorsement, through the single procedure that each entity chooses to apply for this purpose.
Additionally, the uniform banking key (CBU) will be stated in the summary so that the client can formulate their adherence to automatic debit services, the prevailing compensation period for the deposit operation of checks and other compensable documents and the total amount debited in the period under the concept of "Tax on financial transactions". In that statement or account summary, entities will additionally report the following minimum data:
i) If debits corresponding to the automatic debit service occur:

• Name of the service provider company, tax collection agency, etc., to which the debited funds were destined.
• Identification of the client in the company or entity (surname and name or code or account, etc.).
• Concept of the operation causing the debit (month, bimonth, installment, etc.).

REGULATION OF THE BANK CURRENT ACCOUNT
B.C.R.A.
Section 1. Functioning.
Version: 8th COMMUNICATION "A" 5022
Validity:
01/04/2010

• Amount debited.
• Date of debit.
  ii) If transfers are made:
  a) When the account corresponds to the originator of the transfer:
• Discretionary information at the discretion of the originating company or individual.
• Amount transferred.
• Date of the transfer.
  b) When the account corresponds to the recipient of the transfer:
• Name of the originating person or company.
• CUIT, CUIL or DNI number of the originator.
• Unique reference of the transfer.
• Total amount transferred.
• Date of the transfer.
  Conformity with the movement recorded in the bank will be presumed if within 60 calendar days of the expiration of the respective period no claim has been presented to the financial entity. When interest is recognized on creditor balances, the nominal and effective rates, both annual, corresponding to the reported period will be reported. Furthermore, the legend that should be included regarding deposit guarantee, as provided in point 12.2. of Section 12. and, in the place determined by the entity, the tax identification key number (CUIT, CUIL or CDI) of the account holders, according to the records of the depositary, will be stated. It will be an obligation to record the data of up to three of their holders; when they exceed this number, the total quantity will also be indicated.
  1.5.2.4. Send to the account holder, when using the deferred payment check modality, information that will contain as a minimum, in addition to the already verified fund movement, a detail of the registered checks, maturity and amount, subject to the conditions stipulated in point 1.5.2.3.
  1.5.2.5. Inform the account holder of the balance registered in the corresponding accounts in the entity's offices and/or in the places indicated by the holders, such communication being able to be made through electronic means.
  1.5.2.6. Pay on demand -except in the cases referred to in point 1.5.2.8., second paragraph- the checks issued in the formulas delivered to the account holder, in accordance with the legal and regulatory provisions in force on the date of issuance of the check, taking into account in matters of presentation periods those established in article 25 of the Check Law.
  In the case of deferred payment checks, this period will be calculated from the payment date recorded on the instrument.
  1.5.2.7. Adopt the necessary procedures to effect the payment of checks, assuming the pertinent legal responsibilities in the case of incorrectly paid documents.
  For the case of checks included in the truncation operation, observe -in this aspect- the guidelines contained in the agreements formalized between the entities.
  1.5.2.8. Identify the person presenting the check at the counter, even when it is issued to bearer, whose signature, clarification and address, and the type and number of identity document corresponding to what is provided in point 1.3.1.9., must be recorded on the reverse side of the document.
  Checks -common or deferred payment- issued to bearer or to the order of a specific person for amounts exceeding $ 50,000 shall not be paid in cash. This restriction will not apply in the following cases:
  i) Checks issued in favor of the holders of the accounts on which they are drawn, exclusively when presented to the drawee entity by themselves. ii) Values in favor of third parties destined for the payment of salaries and other habitual remuneration for amounts comprising the payroll globally, for which the drawer must extend, on each occasion, a certification in which the purpose of the draft is expressly stated, which will be archived in the entity.
  1.5.2.9. Verify -both in checks and in transferable nominative certificates- the regularity of the series of endorsements but not the authenticity of the signature of the endorsers and verify the signature of the presenter, which must be inserted as a receipt.
  These obligations fall on the drawee entity when the check is presented for collection in it, while to the entity in which the check is deposited -when it is different from the drawee- it corresponds to control that the last signature extended as a receipt contains the specifications fixed in point 5.1.3. of Section 5., unless the truncation procedure is applicable, in which case the respective agreements will be followed. When the presentation is made through an agent or beneficiary of an ordinary assignment, the instrument by which the mandate was granted or the assignment made must also be verified, except when the collection management is carried out by a financial entity not authorized to capture deposits in current accounts.

REGULATION OF THE BANK CURRENT ACCOUNT
B.C.R.A.
Section 1. Functioning.
Version: 7th COMMUNICATION "A" 5022
Validity:
22/12/2009

ORDERED TEXT ORIGIN STANDARD
Sec. Point Para. Com. Annex Ch. Sec. Point Para.
OBSERVATIONS
1.5.1.4. "A" 2514 unique 1.2.1.4.
1.5.1.5. "A" 2514 unique 1.2.1.5.
1.5.1.6. "A" 2514 unique 1.2.1.6. S/Com. "A" 3075 and
"A" 3244
1.5.1.7. "A" 2514 unique 1.2.1.7. S/Com. "A" 3075
1.5.1.8. "A" 2514 unique 1.1.1.3. and
1.2.1.8.
1st S/Com. "A" 3831
1.5.2. "A" 2514 unique 1.2.2.
1.5.2.1. "A" 2514 unique 1.2.2.1.
1.5.2.2. "A" 2514 unique 1.2.2.2. S/Com. "A" 3075
1st "A" 2514 unique 1.2.2.3. 1st S/Com. "A" 3075, "A" 3323, "A" 4971 pt 1., "A" 5000 and 5022 2nd "A" 2621 2. S/Com. "A" 3014 pt. 3.7.1.6 3rd "A" 2514 unique 1.2.2.3. 4th 4th "A" 3075 1.5.2.3. 5th "A" 2807 6. S/Com. "A" 3244 and "A" 3323
1.5.2.4. "A" 2514 unique 1.2.2.4. S/Com. "A" 3075 and
"A" 3244
1.5.2.5. "A" 2514 unique 1.2.2.5. S/Com. "A" 3075
1.5.2.6. "A" 2514 unique 1.2.2.6. 1st and 2nd S/Com. "A" 3244
1st "A" 2514 unique 1.2.2.7. 1st S/Com. "A" 2779 and "A" 3075 1.5.2.7.
2nd "A" 2514 unique 1.2.2.7. 2nd S/Com. "A" 2779
1.5.2.8. 1st "A" 2514 unique 1.2.2.8. S/Com. "A" 3244
2nd "A" 2814 2. S/Com. "A" 3831
1st "A" 2514 unique 1.2.2.9. 1st
2nd "A" 2514 unique 1.2.2.9. 3rd S/Com. "A" 3075 and "A" 3244 1.5.2.9.
3rd "A" 2514 unique 1.2.2.9. 2nd
1st "A" 2514 unique 1.2.2.10. S/Com. "A" 3075
2nd "A" 2468 1. 5th
1.5.2.10.
3rd "A" 2468 1. 6th
1.5.2.11. "A" 2514 unique 1.2.2.11. S/Com. "A" 3075,
"A" 3244 and "A" 4063, pt. 1.
1.5.2.12. "A" 2514 unique 1.2.2. 2nd, 3rd
and 4th
S/Com. "A" 2864, pt. 3. and "A" 3244
1.5.2.13. "A" 2514 unique 1.2.2.14.
1st and
2nd
"A" 2508 unique 2nd S/Com. "A" 2621, pt. 3. and "A" 3244 1.5.2.14.
3rd "A" 2508 unique 3rd
1.5.2.15. "A" 2530 S/Com. "A" 3075 and
"A" 3244
1.
1.5.3. "A" 2468 1. 1st S/Com. "A" 3075
B.C.R.A.
ORIGIN OF THE PROVISIONS INCLUDED IN THE ORDERED TEXT ON REGULATION OF THE BANK CURRENT ACCOUNT

It must proceed in the same way if it has knowledge that an already issued bill of exchange has been lost, stolen or altered. The notice can also be given by the dispossessed holder.
1.5.1.5. Report in writing to the cooperative credit box of any change of
domicile and return the books of bills of exchange in which the previous address appears.
1.5.1.6. Communicate to the cooperative credit box any modification of their social contracts, statutes, change of authorities or powers and the revocations of
the latter, in particular when referring to the persons mentioned in the point 1.3.2.6.
1.5.1.7. Return to the cooperative credit box all blank bills of exchange
it holds at the time of requesting the closure of the account or within 5 business days of the date of having received the communication of the suspension of the service of payment of bills of exchange as a prior measure to the closure of the account or of the closure of the account.
1.5.1.8. Integrate the bills of exchange in pesos, draft them in the national language without advertising inscriptions and sign them by hand.
Save the strikethroughs and amendments on the reverse side of the bill of exchange, with the signature of the drawer. Bills of exchange carrying more than 3 signatures will not be admitted.
1.5.2. Obligations of the cooperative credit box.
1.5.2.1. Keep accounts up to date.
1.5.2.2. Credit on the day the amounts delivered for the credit of the demand account
and the deposits of bills of exchange within the prevailing compensation periods.
1.5.2.3. Send to the holder, at most 8 calendar days after the end of each month
and/or the shorter period established and under the conditions agreed upon, a statement with the detail of each of the movements that take place in the account -debits and credits-, whatever their concept, identifying the different types of transaction through a specific code that each entity implements for this purpose and the balances recorded in the period it covers, asking for their written consent. It must also be identified in the corresponding statement the operations carried out on own account or on behalf of third parties, to the extent that the deposits are identified by the corresponding endorsement, through the single procedure that each cooperative credit box chooses to apply for this purpose. Additionally, the uniform banking key (CBU) will be stated in the summary so that the client can formulate their adherence to automatic debit services, the prevailing compensation period for the deposit operation of checks and other compensable documents and the total amount debited in the period under the concept of "Tax on financial transactions".

DEMAND ACCOUNTS OPENED IN COOPERATIVE CREDIT UNIONS B.C.R.A.
Section 1. Functioning
Version: 4th COMMUNICATION "A" 5022
Validity:
01/04/2010

ORDERED TEXT ORIGIN STANDARD
Sec. Point Para. Com. Annex Sec. Point Para.
OBSERVATIONS
1.1. "A" 4713 Unique 1. 1.1.
1.2. "A" 4713 Unique 1. 1.2.
1.3. "A" 4713 Unique 1. 1.3.
1.4. "A" 4713 Unique 1. 1.4.
1.
1.5. "A" 4713 Unique 1. 1.5. S/ Com. "A" 4971 pt. 9.,
5000 and 5022
2.1. "A" 4713 Unique 2. 2.1. S/ Com. "A" 4936, 4971
pt. 10. and 5000.
2.2. "A" 4713 Unique 2. 2.2.
2.3. "A" 4713 Unique 2. 2.3.
2.
2.4. "A" 4713 Unique 2. 2.4.
3.1. "A" 4713 Unique 3. 3.1.
3.
3.2. "A" 4713 Unique 3. 3.2.
4.1. "A" 4713 Unique 4. 4.1. S/ Com. "A" 4755, 4849,
4. 4971 pts. 11 and 12. and 5000
4.2. "A" 4713 Unique 4. 4.2.
5.1. "A" 4713 Unique 5. 5.1.
5. 5.2. "A" 4713 Unique 5. 5.2.
5.3. "A" 4713 Unique 5. 5.3.
6.1. "A" 4713 Unique 6. 6.1. S/ Com. "A" 4971 pt. 13.
6.2. "A" 4713 Unique 6. 6.2..
6.
6.3. "A" 4713 Unique 6. 6.3. S/ Com. "A" 4971 pt. 13. and
5022
7.1. "A" 4713 Unique 7. 7.1. S/ Com. "A" 4971 pt. 14. and
5022
7.2. "A" 4713 Unique 7. 7.2. S/ Com. "A" 4971 pt. 15. and
5000
7.3. "A" 4713 Unique 7. 7.3. S/ Com. "A" 4971 pt. 14.
7.4. "A" 4713 Unique 7. 7.4.
7.5. "A" 4713 Unique 7. 7.5.
7.6. "A" 4713 Unique 7. 7.6.
7.7. "A" 4713 Unique 7. 7.7. S/ Com. "A" 4971 pt. 14. and
5000
7.8. "A" 4713 Unique 7. 7.8.
7.
7.9. "A" 4713 Unique 7. 7.9.
8.1. "A" 4713 Unique 8. 8.1.
8.2. "A" 4713 Unique 8. 8.2.
8.3. "A" 4713 Unique 8. 8.3.
8.
8.4. "A" 4713 Unique 8. 8.4.
9.1. "A" 4713 Unique 9. 9.1.
9.
9.2. "A" 4713 Unique 9. 9.2.
10.1. "A" 4713 Unique 10. 10.1.
10.2. "A" 4713 Unique 10. 10.2.
10.3. "A" 4713 Unique 10. 10.3.
10.4. "A" 4713 Unique 10. 10.4.
10.5. "A" 4713 Unique 10. 10.5.
10.
10.6. "A" 4713 Unique 10. 10.6.
B.C.R.A.
ORIGIN OF THE PROVISIONS INCLUDED IN THE ORDERED TEXT ON "DEMAND ACCOUNTS OPENED IN COOPERATIVE CREDIT UNIONS"

subsequent to the date on which the entity receives the client's instruction, provided that the originating company of the debit and only in the cases where the amount of the requested reversal exceeds $ 750.-, does not oppose the reversal because the billing difference has been effectively made directly. When it comes to settlements of open system credit cards, in replacement of the mentioned reversal procedure, entities must have mechanisms in place that allow users to manage through them the reversal of coupons included in the settlements and the refund of the pertinent amounts that have been debited.
1.11. Account summary.
At least quarterly and within 10 calendar days from the established closing date, entities must send to the holder a summary indicating the type of the account that it is according to the deposit modalities enabled by the Central Bank, with the detail of each of the movements that take place in it -debits and credits-, whatever their concepts, identifying the different types of transaction through a specific code that each entity implements for this purpose and the balances recorded in the period it covers. It must also be identified in the corresponding statement the operations carried out on own account or on behalf of third parties, to the extent that they are check deposits for amounts exceeding $ 1,000 and that are identified by the corresponding endorsement, through the single procedure that each entity chooses to apply for this purpose. Additionally, the uniform banking key (CBU) will be stated in the summary so that the client can formulate their adherence to direct debit services, the prevailing compensation period for the deposit operation of checks and other compensable documents and, in the place determined by the entity, the total amount debited in the period under the concept of "Tax on financial transactions" and the number of tax identification key (CUIT, CUIL or CDI) of the account holders, according to the records of the depositary. It will be an obligation to record the data of up to three of their holders; when they exceed this number, the total quantity will also be indicated. If applicable, entities will report the following minimum data:
1.11.1. When debits corresponding to the automatic debit service occur:

• Name of the service provider company, tax collection agency, etc., to which the debited funds were destined.
• Identification of the client in the company or entity (surname and name or code or
  account, etc.).
• Concept of the operation causing the debit (month, bimonth, installment, etc.).
• Amount debited.
• Date of debit.

SAVINGS DEPOSITS, PAYMENT OF REMUNERATION AND SPECIALS B.C.R.A.
Section 1. Savings box.
Version: 8th COMMUNICATION "A" 5022
Validity:
01/04/2010

1.11.2. When transfers are made:
i) If the account belongs to the originator of the transfer:

• Discretionary information at the discretion of the originating company or individual.
• Amount transferred.
• Date of the transfer.
  ii) If the account belongs to the recipient of the transfer:
• Name of the originating person or company.
• CUIT, CUIL or DNI number of the originator.
• Unique reference of the transfer.
• Total amount transferred.
• Date of the transfer.
  Conformity with the movement recorded in the entity will be presumed if within 60 calendar days of the expiration of the respective period no claim is found in the possession of the entity.
  1.12. Closure of accounts.
  1.12.1. By decision of the holder.
  By presentation at the entity and withdrawal of the total balance (capital and interest).
  The entity will provide confirmation of the respective closure.
  1.12.2. By decision of the entity.
  It will proceed when, in the judgment of the financial entity, the client has not complied with the operational conditions detailed in the procedures manual of point 5.10.
  1.12.2.1. General procedure.
  It will be communicated to the holders by mail by certified piece, granting a period of no less than 30 calendar days before proceeding to the closure of the account and transfer of funds to immobilized balances. Additionally, in the communication, reference will be made to the commission to be applied on those amounts and to the date of validity.

SAVINGS DEPOSITS, PAYMENT OF REMUNERATION AND SPECIALS B.C.R.A.
Section 1. Savings box.
Version: 7th COMMUNICATION "A" 5022
Validity:
22/12/2009

1.12.2.2. Exception.
In the case of accounts that record balances lower than 50 times the value of the postal piece called "certified letter plus" (basic service of up to 150 grs.) of Correo Argentino, a notice may be issued by means of a publication of a general nature, once, in two newspapers with circulation in the localities where the offices of the respective entity are located. This publication, which will contain the data indicated in point 1.12.2.1., may be made by each intervening entity, by a group of entities, or by the associations that group them, with express mention of the entities that will apply the provision.

1.13. Guarantee of deposits.
The status of the account with respect to the deposit guarantee insurance system will be specified.
The incorporation of the corresponding legends will be formulated in accordance with what is established in point 5.4. of Section 5.

1.14. Recommendations for the use of ATMs.
At the time of opening an account that involves the delivery of cards to operate with ATMs, it will be necessary to notify the holder about the recommendations and precautions they must take for their use, in the terms contained in point 5.3. of Section 5.

1.15. Delivery of the text of the norms.
The complete text of the regulations in force on the date of account opening will be delivered to the depositor, against a signed receipt. Modifications to said text will be brought to the attention of the holder at the first opportunity they visit the entity's offices for any procedure or operation related to their account, through reliable notification or through its inclusion in the account summary.

SAVINGS DEPOSITS, PAYMENT OF REMUNERATIONS AND SPECIAL B.C.R.A.
Section 1. Savings account.
Version: 6th COMMUNICATION "A" 5022
Validity:
22/12/2009

DEPOSITS OF SAVINGS, PAYMENT OF REMUNERATIONS AND SPECIAL ORDERED TEXT SOURCE NORM Sec. Point Par. Com. Annex Chap. Sec. Point Par. OBSERVATIONS 4th "A" 3042
1.9.3. "A" 2468 1. 1st
1st
2nd
3rd
"A" 2468
"A" 2468
"A" 2468
1.
1.
1.
4th
5th
6th
2nd "A" 2468 1. 5th
1.9.4.
3rd
2nd
3rd
"A" 2468
"A" 2468
"A" 2468
1.
1.
1.
6th
5th
6th
1.10. 1st "A" 2621 3.
2nd "A" 2508 Unique 3rd
1st "A" 3042 S/Com. "A" 4809 and "A"
4971 pt. 16 and 5022
1.11.
2nd "A" 3042 S/Com. "A" 3323,
4809, 5000 and 5022
1.11.1. "A" 2621 2.
1.11.2. "A" 3014 3. 3.7.1.6.
4th "A" 3042
1.12.1. "A" 3042
1.12.2. "A" 3042 S/Com. "A" 4809.
1.12.2.1 "A" 1199 I 5.2.2. 1st and 2nd
. "A" 1653 I 2.1.3.4.
1.12.2.2
. "A" 1199 I 5.2.2. 3rd S/Com. "A" 4809.
1.13. "A" 1199 I 6.3. S/Com. "A" 2807-pt. 6
"A" 1820 I 2.6.
1.14. "A" 2530
1.
1.15. "A" 1653 I 2.1.3.5.
2.1. "A" 2590 I 4.4.1.
1st "A" 2590 I 4.4.2.
2.2.
2nd "A" 2956
2.3. "A" 2590 I 4.4.3. S/Com. "A" 4047.
2.4. "A" 2590 I 4.4.4.
2.5. "A" 2590 I 4.4.5.
2.6. "A" 2590 I 4.4.6. S/Com. "A"4809.
2.7. "A" 2590 I 4.4.7.
2.8. "A" 2590 I 4.4.8.
"A" 2590 I 4.4.9.
2.9.
"A" 2956
2.10. "A" 2590 I 4.4.10.
2.11. "A" 2590 I 4.4.11.
1st "A" 2590 I 4.4.12.
2nd "A" 2590 I 2.
2.
2.12.
3rd "A" 2956 2nd
3.1. "A" 4809 1.
3.2. "A" 4809 1.
3.3. "A" 4809 1.
3.4. "A" 4809 1.
3.
3.5. "A" 4809 1.

1.1. General aspects.
1.1.1. Financial and exchange entities must observe the precautions contained in this regulation, without prejudice to complying with what is established in Law 25.246 and the regulatory norms issued by the Financial Information Unit related to the matter.
1.1.2. The basic principle on which this regulation is based is the internationally known "know your customer" policy.
1.1.3. Consequently, the opening and maintenance of accounts must be based on knowledge of the clientele, paying special attention to their operation, with the purpose of avoiding that they can be used in relation to money laundering. For these purposes, the following will be observed:
1.1.3.1. Natural persons: a sworn declaration regarding the legality and origin of the funds will be required, and when necessary to define the client's profile, supporting documentation that allows establishing their patrimonial and financial situation.
1.1.3.2. Legal entities: they must present a copy of the last balance sheet certified by a public accountant and legalized by the Professional Council of Economic Sciences that corresponds, or alternative documentation that allows establishing their patrimonial and financial situation.
1.1.4. Consideration will be given -among other aspects- that both the number of accounts in whose name the same person appears and the activity they record, whether by operations carried out on their own account or by order of third parties, when it comes to the management of check collection, bear a reasonable relationship with the development of the activities declared by the respective clients.
In this sense, regarding the check collection management operation, entities must observe that possible errors or omissions in the recording of all the data provided by the regulation for the figure of endorsement in procurement are not repetitive, and what is referred to regarding "know your customer" policies will apply for this purpose. Likewise, when it comes to collecting accounts, entities must ensure that such accounts are not used for other purposes, such as check collection management.
1.1.5. In order to verify compliance with the principle of knowledge of the clientele (points 1.1.2. and 1.1.3.), in accounts for the crediting of remunerations, of the Severance Fund for Construction Industry Workers and related to the payment of social plans, the information provided by employers and by national, provincial or municipal competent bodies, respectively, is considered sufficient, provided that the amount of the credits does not exceed $ 30,000 monthly.
This presumption does not relieve the entity from analyzing the possible discrepancy between the profile of the account holder and the amounts and modalities operated.

MONEY LAUNDERING PREVENTION
B.C.R.A. AND OTHER ILLEGAL ACTIVITIES
Section 1. Money laundering prevention.
Version: 8th COMMUNICATION "A" 5022
Validity:
04/01/2010

B.C.R.A.
ORIGIN OF THE PROVISIONS INCLUDED IN THE ORDERED TEXT OF THE NORMS ON "MONEY LAUNDERING PREVENTION AND OTHER ILLEGAL ACTIVITIES" ORDERED TEXT SOURCE NORM Observations
Section Point Paragraph Comm. Point Paragraph
1.1.1. "A" 4353
1.1.2. "A" 4353
1.1.3. "A" 2627 1. 1st According to Com."A" 4353 and "A" 4459, pt.1.
1.1.4. "A" 2627 1. 2nd According to Com."A" 4971 pt. 19. and 5022
1.1.5. "A" 4459 2. According to Com. "B" 9516
1.2. "A" 4353
1.3.1. "A" 2451 1. and 2. According to Com. "A" 3037 and "A" 4353
1.3.2. "A" 4353 According to Com. "A" 4459, pt. 3.
1.3.3. "A" 4353 According to Com. "A" 4459, pt. 3. and 4.
1.3.4. "A" 4353 According to Com. "A" 4459, pt. 5., "A"
4675, pt. 1, "A" 4835, pt. 2., "A"
4895, pt. 2.,"A" 4928 and "A" 5004.
1.3.5. "A" 4353
1.3.6. "A" 4353 According to Com. "A" 4459, pt. 6.
1.4. "A" 2451 3. According to Com. "A" 4353
1.5.1. "A" 4353 According to Com. "A" 4383, "A" 4459, pt.
7. and "A" 4675, pt. 2.
1st and 2nd "A" 2627
"A" 2458
6.
1.
According to Com. "A" 3037, "A" 4353 and "A"
4459, pt. 8.
1.5.2.
3rd "A" 4675 9.
1.5.2.1. "A" 2458 2. According to Com. "A" 4353
1.5.2.2. "A" 2458 3. According to Com. "A" 4353
1.5.2.3. "A" 2458 4.
1.5.3. "A" 4353
1.5.4. "A" 4353
1.6. "A" 2451 5. According to Com. "A" 3037 and "A" 4353
1.7.1. "A" 2627 2. 1st According to Com. "A" 3037 and "A" 4353
1.7.1.1 "A" 2627 2.1. According to Com. "A" 3037
1.7.1.2. "A" 3037
1.7.1.3. "A" 2627 2.2.
1.7.1.4. "A" 2627 2.3. According to Com. "A" 3037
1.7.1.5. "A" 2627 2.4. According to Com. "A" 3037 and "A" 4353
1.7.1.6. "A" 2627 2.5. According to Com. "A" 3037
1.7.1.7. "A" 3037
1.7.1.8. "A" 2627 2.6. According to Com. "A" 3037 and "A" 4353
1.7.1.9. "A" 2627 2.7. According to Com. "A" 3037
1.7.1.10. "A" 2627 2.8.
1.7.1.11. "A" 3037
1.7.1.12. "A" 2627 2.9.
1.7.1.13. "A" 2627 2.10.
1.7.1.14. "A" 2627 2.11.
1.7.1.15. "A" 2627 2.12.
1.7.1.16. "A" 3217 1.
1.7.1.17. "A" 3249 3.
1.7.1.18. "A" 4954
1.
1.7.2. "A" 2627 3. According to Com. "A" 3037, "A" 4353 and "A"
4424