Regulatory Alerts2015-12-29 | DOF 5421590Added · Updated
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 establishes a mandatory identification threshold for currency exchange centers, requiring them to collect official identification data for individual transactions equal to or exceeding one thousand United States dollars. It mandates the aggregation and reporting of cash transactions in foreign currency or traveler's checks totaling one thousand dollars or more, and requires the submission of quarterly reports on relevant operations and cash purchases exceeding one thousand dollars. Additionally, it updates compliance officer requirements for corporate groups, strengthens internal audit and policy documentation obligations, and introduces a blocked persons list with specific appeal procedures.