Regulatory Alerts2017-03-09 | DOF 5475643Added
Resolution amending, adding, and repealing general provisions applicable to currency exchange centers under Article 95 Bis of the General Law of Credit Auxiliary Organizations and Activities
This Resolution amends, adds, and repeals general provisions applicable to currency exchange centers to implement a Risk-Based Approach for anti-money laundering and counter-terrorist financing compliance. It mandates the identification of beneficial owners for legal entities, requires the establishment of internal risk evaluation methodologies, and clarifies reporting deadlines for unusual and internal suspicious operations. The changes also introduce provisions for interim compliance officers and expand the list of valid identification documents.