Resolution No. 6 of July 2, 1999 - Procedures for Credit and Accreditation Card Administrators

Resolution No. 6 of July 2, 1999 - Procedures for Credit and Accreditation Card Administrators

Published on 02/07/2021 19:17

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The President of the Financial Activities Control Council - COAF, using the authority granted by item IV of Article 9 of the Statute approved by Decree No. 2,799 of October 8, 1998, makes it public that the Plenary of the Council, in a session held on June 30, 1999, based on Article 14 of Law No. 9,613 of March 3, 1998, resolved:

Section I
Preliminary Provisions

Art. 1º With the objective of preventing and combating the crimes of "money laundering" or concealment of assets, rights, and values, as established in Law No. 9,613 of March 3, 1998, regulated by Decree No. 2,799 of October 8, 1998, credit and accreditation card administrators shall observe the provisions contained in this Resolution.

Sole Paragraph. The provisions of this Resolution apply to legal entities, with headquarters or representation in the national territory, that carry out the activity of administering accreditation or credit cards, on a permanent or occasional basis, as a principal or ancillary activity, cumulatively or not, in their various modalities.

Section II
Client Identification and Registry Maintenance

Art. 2º The persons mentioned in Art. 1 shall identify their clients and maintain registries in accordance with this Resolution.

Art. 3º The registry shall contain information about the parties involved in the operation that allows verification of their adequate identification, the compatibility between corresponding fund movements, economic activity, and financial capacity.

Section III
Transaction Records

Art. 4º The persons mentioned in Art. 1 shall maintain a record of every transaction carried out.

Art. 5º The monthly invoice record shall contain, at a minimum, the following information:

I - value and date of operation completion;

II - identification of the parties and registration number in the Individual Taxpayer Registry - CPF - or the National Registry of Legal Entities - CNPJ; and

III - reference to the business sector.

Section IV
Suspicious Operations

Art. 6º The persons mentioned in Art. 1 shall pay special attention to operations or proposals that, in accordance with the Annex to this Resolution, may constitute serious indications of the crimes provided for in Law No. 9,613 of 1998, or be related to them.

Section V
Communications to COAF

Art. 7º The persons mentioned in Art. 1 shall communicate to COAF any operation provided for in Article 6, within 24 hours after its identification, refraining from informing the clients of such act.

Art. 8º Communications made in good faith to COAF, as provided for in § 2 of Art. 11 of Law No. 9,613 of 1998, shall not entail civil or administrative liability.

Art. 9º The information mentioned in Art. 7 may be forwarded through an electronic process.

Section VI
General and Final Provisions

Art. 10. The persons mentioned in Art. 1 shall:

I - maintain the records provided for in this Resolution for a minimum period of five years, from the conclusion of the transaction;

II - indicate to COAF, by July 30, 1999, the name and qualification of the person responsible for complying with the obligations hereby established; and

III - comply, at any time, with information requests made by COAF regarding parties involved and transactions.

Art. 11. Non-compliance with the obligations of this Resolution shall result in the application by COAF of the sanctions provided for in Art. 12 of Law No. 9,613 of 1998, in accordance with Decree No. 2,799 of 1998 and Ordinance No. 330 of the Minister of State for Finance of December 18, 1998.

Art. 12. COAF shall make available, prior to the start of the effects of this Resolution, an Internet electronic address for receiving communications.

Art. 13. The Council Presidency is authorized to issue complementary instructions to this Resolution, especially regarding the provisions contained in Section V - Communications to COAF.

Art. 14. This Resolution enters into force on the date of its publication, producing effects from August 2, 1999.

Brasília, July 2, 1999.

Adrienne Giannetti Nelson de Senna

Annex
List of Suspicious Operations

1. Non-compliance by an employee of a credit or accreditation card administrator with registration requirements leading to the effective delivery of credit or accreditation cards.

2. Offering false registration information or providing registration information that is difficult or costly to verify.

3. Occurrence of a creditor balance on the invoice, habitually, of a value considered significant.

4. High concentration without apparent cause of purchases by a cardholder at the same affiliated establishment.

5. Habitual requests for cancellation of transactions after payment of the invoice, with the return of the paid amount.

6. Frequent deviations from the patterns and standards adopted by each credit or accreditation card administrator in monitoring their cardholders' purchases.

7. Habitual exceeding of monthly spending limits by the cardholder, monitored by credit or accreditation card administrators.

8. Increase in the volume of credit card business by an affiliated establishment, without apparent reason.

9. Frequent requests by the cardholder for an increase in monthly spending limits, without proof of increased financial capacity.

10. Other operations that, due to their characteristics regarding involved parties, values, method of execution, instruments used, or lack of economic or legal basis, may constitute a hypothesis of crimes provided for in Law No. 9,613 of 1998, or be related to them.