Regulatory Alerts2023-04-05 | DOF 5684930Added · Updated
Resolution reforming, adding, and repealing general provisions applicable to money transmitters under Articles 95 Bis and 81-A Bis of the General Law of Credit Auxiliary Organizations and Activities
This Resolution amends the general provisions for money transmitters to enhance non-presidential identification requirements, specifically mandating the collection of device geolocation data for remote operations with Mexican individuals and entities. It introduces new definitions for 'Identification Technology Mechanism' and 'Interim Compliance Officer', updates the list of valid identification documents, and establishes protocols for verifying digital copies of identification and proof of address. The changes also require money transmitters to re-validate user identification files if no operations have occurred for over 180 days and to incorporate geolocation data into transactional risk profiling.