Resolution SBS No. 02351-2023: Amending the Standard for the Prevention of Money Laundering and Terrorist Financing Applicable to Obliged Entities Under the Supervision of UIF-Peru

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000 Lima, July 12, 2023 Resolution SBS No. 02351-2023 The Superintendent of Banks, Insurance, and Private Pension Fund Administrators

CONSIDERING:

That, by Resolution SBS No. 789-2018, the Standard for the prevention of money laundering and terrorist financing applicable to obliged entities under the supervision of UIF-Peru, in matters of prevention of money laundering and terrorist financing, was approved;

That, by Legislative Decree No. 1372, Legislative Decree regulating the obligation of legal entities and/or legal bodies to inform the identification of final beneficiaries, competent authorities, such as UIF-Peru, are granted timely access to accurate and updated information on the final beneficiary of the legal entity and/or legal body, in order to strengthen the fight against tax evasion and avoidance, guarantee compliance with obligations of mutual administrative assistance in tax matters, and the fight against money laundering and terrorist financing; modifying, likewise, article 3, paragraph 3.1 item 29 of Law No. 29038, which considers as obliged entities, in addition to lawyers and public accountants who are members of their respective colleges, legal entities that provide legal, legal-advisory, and/or accounting services, that carry out activities in accordance with what is established in said norm;

That, in this context, it is necessary to harmonize the norms for the prevention of money laundering and terrorist financing and clarify certain aspects of the money laundering and terrorist financing prevention system of the obliged entities reporting on due diligence, final beneficiary, compliance officer, transaction registry, among others, adapting them to the current regulatory framework and international standards in matters of fighting the aforementioned crimes; as well as issuing the regulation applicable to legal entities whose corporate purpose is the provision of legal, legal-advisory, and/or accounting services, that carry out or intend to carry out on behalf of their client or on their account, on a habitual basis, the activities described in numeral 29) of article 3 of Law No. 29038, which are obliged entities supervised by the Superintendence of Banks, Insurance, and Private Pension Fund Administrators (SBS), through UIF-Peru, in matters of prevention of money laundering and terrorist financing, in accordance with what is provided by article 9-A, numeral 9-A.8 of Law No. 27693 and its modifying norms;

That, in accordance with the functional autonomy conferred by article 346 of the General Law of the Financial System and the Insurance System and Organic Law of the Superintendence of Banks and Securities - Law No. 26702 and its modifications and article 44 of the Single Text of Administrative Procedures - TUO of the General Administrative Procedure Law approved by Supreme Decree No. 004-2019-JUS and its modifications, the SBS is empowered to approve modifications to the Institutional Single Text of Administrative Procedures – TUPA, and in this sense, it is necessary to modify the requirements of procedure No. 142 of the TUPA in accordance with the regulatory adaptation, as well as incorporate the administrative procedure to have a corporate compliance officer excepting the exclusive dedication of its functions;

That, it is necessary to modify the Regulation of Infractions and Sanctions in matters of Prevention of Money Laundering and Terrorist Financing, approved by Resolution SBS No. 8930-2012, with the purpose of incorporating some aspects of the sanctioning procedure that allow the Superintendence to have effective mechanisms for a better exercise of its sanctioning power;

That, in order to collect opinions from the general public regarding the modification proposals, the pre-publication of the draft resolution on the matter was ordered on the electronic portal of the Superintendence, under the protection of what is provided in Supreme Decree No. 001-2009-JUS and its modifying norms;

Having the approval of UIF-Peru and the Adjunct Superintendence of Legal Advice;

And,

In exercise of the powers conferred by Law No. 29038 and Law No. 26702, in concordance with Law No. 27693 and its modifying and regulatory norms;

RESOLVES:

Article First.- Modify numeral 7 of paragraph 2.1 and paragraph 2.3 of article 2; numerals 3, 6, 7, 8, 9, 10, 11, 12, 19, 25, 36, 38 and 47 of article 3; paragraph 4.3 and numerals 3 and 10 of paragraph 4.4 of article 4; paragraphs 5.1, 5.3, 5.4 and 5.5 of article 5; paragraph 6.2 of article 6; paragraphs 7.2, 7.3 and 7.5 of article 7; paragraph 9.1 and numerals 1 and 2 of paragraph 9.3 of article 9; the first paragraph and numerals 3 and 5 of article 10; article 11; the first paragraph and item e) of article 12; paragraph 14.2 of article 14; numeral 15.2.3 of paragraph 15.2 and paragraph 15.3 of article 15; subsections ii) and iii) of item 9 of numeral 16.1.1, the statement and items 4, 6 and 8 of numeral 16.1.2 of paragraph 16.1, item 4 of numeral 16.2.2 and item 1 of numeral 16.2.3 of paragraph 16.2 and paragraph 16.4 of article 16; the denomination of Chapter IV of Title I; paragraph 17.1 of article 17; items h) and j) of paragraph 18.1 of article 18; article 19; article 20; paragraphs 22.1, 22.4 and 22.5 of article 22; paragraph 23.3 and subsection vii), item 2, numeral 23.4.2 and numeral 23.4.3 of paragraph 23.4 of article 23; paragraphs 24.1, 24.2, subsection iv) of paragraph 24.4 and paragraph 24.5 of article 24; article 28; paragraph 33.2 of article 33; article 36; the first paragraph and numerals 2, 3, 7, 9 and item 1, literals a) and b) of item 2, items 3 and 4 of numeral 10 of article 37; numerals 2, 3, 9, items 1, 3 and 4 of numeral 10 and numeral 17 of article 38; numerals 2, 3, 4, 9, items 1 and 2 of numeral 10 and numeral 17 of article 39; numerals 2, 3, 9 and items 3 and 4 of numeral 10 of article 40; numerals 2, 3, 9 and item 1, literals a) and c) of item 2 and items 3 and 4 of numeral 10 of article 41; numerals 2, 3, 9 and items 1, 3 and 4 of numeral 10 of article 43; numerals 2, 3, 9 and item 1, literals b) and c) of item 2 and items 3 and 4 of numeral 10 of article 44;

incorporate numerals 14 and 15 to paragraph 2.1 of article 2, numeral 51 to article 3; numeral 6 to article 10; items 10 and 11 to numeral 16.1.1 of paragraph 16.1 of article 16; item 5 to numeral 10 of article 37; item 5 to numeral 10 of article 38; item 5 to numeral 10 of article 40; item 5 to numeral 10 of article 41 and Chapter X – Professional Legal Entity which contains article 45; and repeal numeral 4 of article 3 and item i) of paragraph 6.1 of article 6 and subsection iv) of item 9 of numeral 16.1.1 of paragraph 16.1 of article 16 of the Standard for the prevention of money laundering and terrorist financing applicable to obliged entities under the supervision of UIF-Peru, in matters of prevention of money laundering and terrorist financing, approved by Resolution SBS No. 789-2018, according to the following text:

“Article 2.- Scope

2.1. This standard is applicable to obliged entities that engage in the following activities, taking into consideration the definitions provided in article 3 of this standard:

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7. Construction.

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14. Real Estate.

15. Legal entities whose corporate purpose is the provision of legal, legal-advisory, and/or accounting services, that carry out or intend to carry out on behalf of their client or on their account, on a habitual basis, the activities established in the current legislation, hereinafter, professional legal entities.

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2.3. In case the registered obliged entity loses such status because i) it ceases to exercise the activity, ii) it has a final resolution that cancels or revokes the authorization for the exercise of the function or activity or iii) due to regulatory modification, it must communicate this by request with the character of a sworn declaration to UIF-Peru, through the SISDEL platform (plaft.sbs.gob.pe/sisdel) or other electronic means determined by the SBS, attaching the information and documentation supporting the request, within a period not exceeding thirty (30) days from the occurrence of the event or from notification of the final resolution to the obliged entity.

Within fifteen (15) days following the receipt of said request, UIF-Peru verifies the loss of such status, proceeding to communicate to the requesting obliged entity that it has effected the cancellation of the secret codes assigned to the obliged entity and to the compliance officer; requiring it to deliver the information subject to conservation referred to in article 31 of this standard, within a period not exceeding thirty (30) days from receipt of the communication.

Article 3.- Definitions and Abbreviations

For the application of this standard, the obliged entity considers the following definitions and abbreviations:

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3. Final beneficiary: natural person included within the scope of article 3, paragraph 3.1, literal a) of Legislative Decree No. 1372, Legislative Decree regulating the obligation of legal entities and/or legal bodies to inform the identification of Final Beneficiaries, and its modifications.

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6. Marketing of machinery and equipment included in National Subheadings No. 84.29, No. 85.02 and No. 87.01 of the National Tariff Classification: Activity consisting of the purchase and sale and/or leasing of new or used machinery and equipment included in National Subheadings No. 84.29, No. 85.02 and No. 87.01 of the National Tariff Classification.

7. Currency exchange: Activity carried out by a natural person with a business or a legal entity with valid registration in the “Registry of Companies and Persons who carry out Financial or Currency Exchange Operations” held by the SBS, which consists in the purchase and sale of legal tender foreign currency in: i) presencial manner, in a establishment with a valid operating license for foreign currency exchange issued by the corresponding Municipality, or ii) electronic manner, through a virtual platform, must have, if applicable, the respective authorization issued by the corresponding Municipality. Does not include cryptoassets or cryptocurrencies.

8. Jewelry trade: purchase and sale of a jewelry item for an amount equal to or greater than US$ 1,000.00, its equivalent in national currency or other currencies, if applicable. For the purposes of this standard, jewelry constitutes the object intended for personal adornment, made of gold and/or precious stones, used on any part of the human body; also known as a jewel. It includes design jewelry and/or handmade gold and/or precious stones and does not include costume jewelry.

9. Trade in precious metals and/or precious stones: for the purposes of this standard, activity carried out by a natural person or a legal entity, which consists in the purchase and sale of gold and/or the precious stones provided for in the Third Complementary Final Provision of the Regulation of the UIF Law.

10. Trade in coins, art objects and postage stamps: for the purposes of this Standard, it is understood as the purchase and sale by piece of such concepts whose amount is equal to or greater than US$1,000.00, its equivalent in national currency or other currencies, if applicable. Does not include the purchase and sale of foreign currency.

11. Purchase and sale of vehicles, vessels and aircraft: Activity carried out by a natural person with a business or a legal entity, which consists, for the purposes of this standard, in the purchase and sale of new vehicles for an amount equal to or greater than US$ 15,000.00, its equivalent in national currency or other currencies, per unit; and in the purchase and sale of new vessels and new aircraft for an amount equal to or greater than US$ 10,000.00, its equivalent in national currency or other currencies, per unit.

12. Construction: Activity that, for the purposes of this standard, refers to the execution of a new building work for housing, office and/or commercial purposes, on commission of a third party that is not the State, excluding the construction of metallic structures or similar; in accordance with the definitions provided in the National Building Regulations approved by Supreme Decree No. 011-2006-VIVIENDA, the Technical Standards that integrate it or those that replace them.

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19. Mining companies: is the natural person with a business or legal entity, that carries out any of the activities of the mining industry under the concession system and, in addition, is dedicated to the marketing of gold, understood as the purchase and sale, import for consumption and/or definitive export of raw or semi-finished gold, regardless of the name given to it, as well as that obtained as a direct product of a mining and/or metallurgical process.

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25. Lottery games and similar: Public game administered by a branch of lotteries belonging to a Public Charity Society or private companies sponsored by a certain Public Charity Society or that meet the requirements established in the legislation on the matter. Includes traditional lottery played through tickets, cards and similar, electronic lottery, instant lottery and other modalities of lottery games.

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36. Non-profit organizations (NPO): legal entity without profit motive constituted under the corporate form of association or foundation and registered in the SUNARP registry, which in addition to raising, transferring and disbursing funds, resources or other assets for charitable, religious, cultural, educational, scientific, artistic, social, recreational or solidarity purposes or for the realization of other types of altruistic or benevolent actions or works; facilitates credits, microcredits or any other type of economic financing. These NPOs are supervised in matters of prevention of ML/TF only by UIF-Peru, without prejudice to being registered with the Peruvian Agency for International Cooperation (APCI) or the Council of Supervision of Foundations (CONSUF).

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38. Loan and/or pawn: Activity carried out by a natural person with a business or a legal entity, with valid registration in the “Registry of Companies and Persons who carry out Financial or Currency Exchange Operations”, which consists in granting loans of money with own funds, in favor of a natural or legal person (client), being able to receive as guarantee a movable and/or immovable asset, granted by the client or a third party, including guarantee on jewels or other objects of gold or silver, as well as gold in ingots. The activity is carried out in: i) presencial manner, in a establishment with a valid operating license for granting loans and/or pawn, issued by the corresponding Municipality, or ii) electronic manner, through a virtual platform, must have, if applicable, the authorization of the activity issued by the corresponding Municipality.

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47. Obliged entity: natural person with a business or legal entity constituted in Peru that engages in some of the activities indicated in article 2, in accordance with the definitions provided in article 3 of this standard. Includes branches established and registered in Peru of legal entities constituted and with domicile abroad, duly authorized to carry out the aforementioned activities.

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51. Professional legal entity: legal entity whose corporate purpose is the provision of legal, legal-advisory, and/or accounting services, that carries out or intends to carry out on behalf of its client or on their account, on a habitual basis, the following activities: a. Purchase and sale of real estate. b. Administration of money, securities, financial system accounts or other assets. c. Organization of contributions for the creation, operation or administration of legal entities. d. Creation, administration and/or reorganization of legal entities or other legal structures. e. Purchase and sale of shares or social participations of legal entities. The information that these obliged entities provide to UIF-Peru is restricted to that which is not subject to professional secrecy.
    The expression “that carries out or intends to carry out on behalf of its client or on their account, on a habitual basis” refers to the fact that the professional legal entity acts in direct or indirect representation of the client, or through a mandate with or without representation, in accordance with what is provided by articles 145 and following and 1790 and following of the Civil Code, respectively, in one or more of the cited operations, regardless of the amount of the operation.

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Article 4.- System for the prevention of money laundering and terrorist financing

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4.3. The implementation and application of the SPLAFT is carried out in accordance with what is provided in paragraphs 13.1 and 13.2 of article 13 of the Regulation of the UIF Law.

Without prejudice to what is provided by numeral 13.2, the SPLAFT is not applicable to workers who perform tasks not directly linked to the activity or activities that determine their status as an obliged entity (cleaning, security, gardening, messenger services or similar).

Likewise, those workers who perform tasks of execution and supervision of production processes, such as laborers, construction supervisors, operators, among others, are exempted; this, provided that these do not apply controls related to the SPLAFT of the obliged entity.

4.4. The general SPLAFT to be implemented by the obliged entity comprises at least the following aspects:

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3. Approve due diligence policies regarding knowledge of clients, final beneficiary, directors, workers and suppliers, if applicable.

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10. Prepare and send to UIF-Peru the annual report of the compliance officer (IAOC) on the situation of the ML/TF prevention system of the previous calendar year and its compliance; as well as any other report that the SBS determines.

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Article 5.- Compliance Officer

5.1. The compliance officer is the natural person designated by the obliged entity, responsible for monitoring the adequate implementation and functioning of the SPLAFT of the obliged entity. It is the contact person between the obliged entity and the supervisory body and an agent on which it relies for the exercise of the control and supervision labor of the SPLAFT.

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5.3. The compliance officer may perform its functions and responsibilities on a non-exclusive basis, without this implying ceasing to monitor the adequate implementation and functioning of the SPLAFT in the obliged entity.

5.4. The obliged entity that is a natural person may be its own compliance officer.

5.5. The obliged entity that is a legal entity may designate a compliance officer with managerial rank, distinct from the General Manager. The obliged entity may designate the General Manager, or whoever acts on their behalf, as a non-exclusive dedication compliance officer, provided that the obliged entity meets the following concurrent characteristics:

a) Have the category of MEPECO (Small and Medium Taxpayers) before the National Superintendence of Customs and Tax Administration; b) Have a maximum of ten workers; c) Not belong to an economic group; and, d) Not develop more than one of the activities that make it an obliged entity.

In case the obliged entity loses one or more of the aforementioned characteristics, the general manager, or whoever acts on their behalf, who serves as compliance officer cannot continue to act as such and this or the obliged entity must communicate this to UIF-Peru, with the character of a sworn declaration, within a maximum period of five (5) business days from the occurrence of the event, through the SISDEL platform (plaft.sbs.gob.pe/sisdel) or other electronic means determined by the SBS. In this case, the obliged entity must designate a new compliance officer.

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Article 6.- Requirements of the Compliance Officer

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6.2. The compliance officer who ceases to meet any of the requirements provided for in paragraph 6.1 of this article cannot continue to act as such and must communicate this to the obliged entity in writing, with the character of a sworn declaration, within a maximum period of five (5) business days from the occurrence of the event. When the obliged entity becomes aware of the non-compliance with any of the requirements provided for in this article, even if the compliance officer has not communicated it, it must remove them from the position and inform this action to UIF-Peru, justifying the reasons that justify such measure, within a maximum period of five (5) business days from when it becomes aware of the non-compliance, through the SISDEL platform (plaft.sbs.gob.pe/sisdel) or other electronic means determined by the SBS. In this case, the obliged entity must designate a new compliance officer who meets the requirements established in the previous paragraph 6.1, considering the procedure indicated in article 7 of this Standard.

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000

Artículo 7.- Designation, removal, and vacancy of the compliance officer (…)

7.2 The obligated subject must notify the UIF-Peru of the appointment of the compliance officer within a period not exceeding fifteen (15) business days from the date of appointment, in a confidential and reserved manner, through an online appointment request for the compliance officer, which must be submitted via the SISDEL platform (plaft.sbs.gob.pe/sisdel) or another electronic means determined by the SBS, attaching the information and documentation supporting such request, including additional or complementary information that the obligated subject considers pertinent for said support. After the respective verification and if deemed appropriate, the UIF-Peru assigns the secret codes that will serve for the identification of the compliance officer.

7.3 The online appointment request for the compliance officer contains the following information: First and last names of the person appointed as compliance officer; type and number of identity document; nationality; domicile; address of the office where they work; contact data: telephone numbers and email address; the position held; date of entry; whether it is full-time or not; sworn statement regarding the fulfillment of the requirements for the compliance officer for said appointment; updated resume of the compliance officer; document accrediting the direct labor or contractual link; sworn statement indicating the person or body that carried out the appointment of the compliance officer, in accordance with the provisions of paragraph 7.1 above, attaching a copy of the board of directors meeting minutes or equivalent body, when applicable, or the document accrediting the appointment as appropriate to the nature of the appointer; copies of authorizations from supervisory bodies, when applicable.

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7.5 The removal of the compliance officer by the obligated subject must be supported by the reasons justifying such measure and must be approved by the person or body that appointed the compliance officer. The removal, as well as the respective support, must be communicated to the supervisory body within a period of five (5) business days from the adoption of the decision. In the case of the removal of the corporate compliance officer, the communication must be sent to the supervisory bodies and to the UIF-Peru and must be signed by the legal representatives of each of the obligated subjects that make up the economic group. In both cases, the communication and support for the removal that must be sent to the UIF-Peru is carried out through the SISDEL platform (plaft.sbs.gob.pe/sisdel) or another electronic means determined by the SBS.

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Artículo 9.- Corporate compliance officer

9.1. Obligated subjects that are part of the same economic group may appoint, with prior authorization from the respective supervisory bodies and the UIF-Peru and in accordance with the paragraphs and numerals indicated below, a single corporate compliance officer, who must be full-time and meet the requirements established in this standard. In consideration of the provisions of paragraph 4.7 of Article 4, the UIF-Peru may exempt the economic group from having a full-time corporate compliance officer, when the obligated subjects that make up the economic group so request and support it, in accordance with numeral 6 of Article 10 of this Standard.

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000

9.3. Additionally, in the case of an economic group authorized to have a corporate compliance officer, the obligated subjects that make it up must consider the following:

1. In the case of the appointment of a new corporate compliance officer, the obligated subjects that make up the economic group must present a document informing said appointment to each of the supervisory bodies and, through the SISDEL platform (plaft.sbs.gob.pe/sisdel) or another electronic means determined by the SBS, to the UIF-Peru. Whenever the status of the economic group has not changed substantially with respect to that maintained at the time of the initial authorization, they must present a sworn statement and consider what is stated in Articles 6 and 7 of this Standard; otherwise, they must attach the support report referred to in Article 10 of this Standard.

2. For the incorporation of a new obligated subject into the economic group, they must present a single authorization request to the heads of the respective supervisory bodies and, through the SISDEL platform (plaft.sbs.gob.pe/sisdel) or another electronic means determined by the SBS, to the UIF-Peru, which must be signed by the legal representatives of each of the obligated subjects that make up the economic group, including the support report referred to in Article 10 of this Standard and a copy of the board of directors meeting minutes or equivalent body or the general shareholders' meeting, when applicable, or the document accrediting the appointment, as appropriate to the nature of the appointer.

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Artículo 10.- Authorization to have a corporate compliance officer

For the authorization, the obligated subject must present a report supporting the feasibility of having a corporate compliance officer, which must contain the following information and/or documentation updated to the date of presentation:

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3. The linkage existing between the obligated subjects that make up the economic group, whether or not supervised by the supervisory body, including the following information for each of them:

a. List of shareholders or partners, specifying the respective ownership percentages.

b. Number of workers and service providers, detailing the positions they hold.

c. Number of suppliers and annexed establishments.

d. Number of clients.

e. Service and distribution channels.

f. Type and number of operations carried out in the previous year and current year, including the method and form of collection and/or payment.

g. Income projection corresponding to the following year.

h. Type and name of the system through which they register operations.

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000

i. Indicate whether the person designated as corporate compliance officer currently works or provides services to other natural or legal persons. If the answer is affirmative, specify the name of the employer/client and the position held or services provided.

j. Others that the obligated subject considers pertinent to support the request.

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5. A sworn statement signed by each of the legal representatives of the obligated subjects that make up the economic group, specifying the full-time dedication of the corporate compliance officer, who will have managerial level in one of the legal entities forming the economic group and will have the assistance of sufficient personnel. Regarding the exception request referred to in paragraph 9.1 of Article 9 of this Standard, the obligated subjects that make up the economic group must specify the non-full-time dedication of the corporate compliance officer in said sworn statement.

6. The exception request referred to in paragraph 9.1 of Article 9 of this Standard, to have a corporate compliance officer with non-full-time dedication, must be duly justified and include, in addition to the information indicated in this article, the description of the distribution of the workload of the person designated as corporate compliance officer with non-full-time dedication.

Artículo 11.- Corporate coordinator in matters of prevention of ML/TF

11.1. Members of an economic group that has a corporate compliance officer may appoint a corporate coordinator in each member of the economic group, who is in charge of coordinating directly with the corporate compliance officer, all matters related to the prevention of ML/TF; without prejudice to the fact that the corporate compliance officer maintains responsibility for the AML/CFT unit in each of the obligated subjects that are members of the economic group.

11.2. The appointment of the corporate coordinator must be made by the general manager, manager, managing partner, or administrator. It must contain at least the following information: First and last names of the person designated as corporate coordinator; type and number of identity document; nationality; obligated subject of the economic group in which they exercise their function; the position held.

Artículo 12.- Functions and responsibilities of the compliance officer

The functions and responsibilities of the compliance officer, regardless of their form of contracting, include among others contemplated in the Regulation of the UIF Law, the following:

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e) Propose and adopt the necessary actions for their training, that of workers and directors, when applicable, and of the obligated subject when this is a natural person, at least once a year in matters of prevention and detection of ML/TF, which includes the adequate management of ML/TF risks.

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000

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Artículo 14.- Customer and beneficial owner knowledge

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Artículo 15.- Stages of due diligence in customer knowledge

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15.2.3 Monitoring stage.- Its purpose is to ensure that the operations carried out by clients are compatible with the information declared by clients (profile). Monitoring allows reinforcing and reaffirming the knowledge that obligated subjects have about their clients, as well as obtaining more information when there are doubts about the veracity or currency of the data provided by clients. Obligated subjects must determine the frequency with which they carry out this stage considering the ML/TF risks they face, when applicable.

15.3. When the obligated subject is not able to comply with due diligence measures in customer knowledge, it must proceed as follows: i) not initiate commercial relations, not carry out the operation and/or terminate the initiated commercial relationship; and, ii) evaluate the possibility of filing a suspicious transaction report (STR) with respect to the client.

In case the obligated subject has suspicions of ML/TF activities and considers that carrying out due diligence actions would alert the client, it must report the suspicious transaction to the UIF-Peru without carrying out said actions. These cases must be justified and documented.

Artículo 16.- Due diligence regimes in customer knowledge

The obligated subject must identify its clients in each operation, applying the identification stage in the customer due diligence process, according to the following:

16.1. General regime of due diligence in customer knowledge

The minimum information that the obligated subject must obtain from the client is the following:

16.1.1 In the case of natural persons:

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9. The identity of the beneficiary of the operation:

14.2. The obligated subject must identify the beneficial owner of all services or products it supplies and takes reasonable measures to verify their identity, to the extent that due diligence allows, so that it is convinced that it knows who the beneficial owner is. For the case of legal entities and juridical entities, for the purpose of determining the beneficial owner, it must take into account what is established in Article 4 of Legislative Decree No. 1372 and its modifying norms.

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000

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ii. In case the operation is carried out in favor of a third-party natural person: ii.1) first and last names of the natural person, ii.2) type and number of identity document, ii.3) representation data (if acting with power of attorney and if it is by public deed) or mandate, ii.4) indicate if they are or have been a PEP, specifying if applicable, the position and the name of the institution (public body or international organization), and ii.5) the origin of the funds/assets involved in the operation, when it is carried out in cash and equals or exceeds the threshold for STR purposes.

iii. In case the operation is carried out in favor of a legal entity or juridical entity, insofar as applicable to the latter: iii.1) its name or trade name; iii.2) RUC Number, if applicable; iii.3) representation data (if acting with power of attorney and if it is by public deed) or mandate iii.4) origin of the funds/assets involved in the operation when it is carried out in cash and equals or exceeds the threshold for STR purposes; iii.5) identification of the beneficial owner of the beneficiary of the operation, in accordance with Article 4 of Legislative Decree No. 1372 and its modifying norms, as applicable.

10. Marital status

11. First and last names of the spouse.

16.1.2 In the case of legal entities and juridical entities:

The minimum information that the obligated subject must obtain from its client-legal entity, as well as from its client-juridical entity insofar as applicable to the latter, is the following:

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4. Identification of its beneficial owners in accordance with Article 4 of Legislative Decree No. 1372 and its modifying norms.

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6. Identification of the representative (executant), for which it must record the data referred to in items 1 and 2 of numeral 16.1.1. Specify if it has representation by power of attorney or mandate, indicating the data of the public notarial instrument and the number of the Registry Partida, section, entry, and Registry Zone of the SUNARP.

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Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000

iii. In case the operation is carried out in favor of a third-party legal entity or juridical entity, insofar as applicable to the latter: iii.1) its name or trade name; iii.2) RUC Number, if applicable; iii.3) representation data (if acting with power of attorney and if it is by public deed) or mandate, iii.4) origin of the funds/assets involved in the operation when it is carried out in cash and equals or exceeds the threshold for STR purposes; iii.5) identification of the beneficial owner of the beneficiary of the operation, in accordance with Article 4 of Legislative Decree No. 1372 and its modifying norms, as applicable.

16.2. Reinforced regime of due diligence in customer knowledge

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16.2.2 This regime applies obligatorily to the following clients:

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4. PEPs and identified as: i) relatives of PEPs up to the second degree of consanguinity and second degree of affinity, ii) spouse or cohabitant of PEP; and, iii) legal entities or juridical entities where a PEP has the condition of beneficial owner, in accordance with Article 4 of Legislative Decree No. 1372 and its modifying norms. It is applicable with respect to the client when they become a PEP, after having initiated commercial relations.

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16.2.3 The obligated subject must implement the following due diligence measures for all clients registered in this regime:

1. Regarding PEPs, the names of their relatives up to the second degree of consanguinity and second degree of affinity and of the spouse or cohabitant must be requested, as well as the list of legal entities or juridical entities that have the condition of beneficial owner, in accordance with Article 4 of Legislative Decree No. 1372 and its modifying norms.

8. The identity of the beneficiary of the operation:

i. In case the operation is carried out in favor of themselves, the origin of the funds/assets involved in the operation, when it is carried out in cash and equals or exceeds the threshold for STR purposes.

ii. In case the operation is carried out in favor of a third-party natural person: ii.1) first and last names of the natural person, ii.2) type and number of identity document, ii.3) representation data (if acting with power of attorney and if it is by public deed) or mandate, ii.4) indicate if they are or have been a PEP, specifying if applicable, the position and the name of the institution (public body or international organization), and ii.5) the origin of the funds/assets involved in the operation, when it is carried out in cash and equals or exceeds the threshold for STR purposes.

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000

(…)

(…)

16.4. The obligated subject must use the sworn statement format for customer knowledge under the general regime, which is published by the SBS on the money laundering prevention portal on the institutional website (http://www.sbs.gob.pe/prevencion-de-lavado-activos), which contains the minimum information referred to in this article, and may employ the necessary digital mechanisms that facilitate the filling and signing of the sworn statement by the client. In addition to said minimum information, the obligated subject may include the information that it has identified as a result of its ML/TF risk analysis.

(…)

CHAPTER IV
CUSTOMER, DIRECTOR, WORKER, AND PROVIDER KNOWLEDGE

Artículo 17.- Knowledge of directors and workers

17.1. The obligated subject must implement a due diligence policy for the knowledge of its workers and directors, in the case that it has such a governing body, except for the exception cases referred to in paragraph 4.3 of Article 4 of this standard.

(…)

Artículo 18.- Knowledge of providers

18.1. The obligated subject, when applicable, must develop due diligence procedures during the selection of providers, considering in this category natural or legal persons with whom the provision of goods or services related directly to the development of the activity for which they are subject to supervision by the UIF-Peru is contracted. For this purpose, the obligated subject must request and verify the following minimum information:

(…)

h) Identification of the beneficial owner, in accordance with Article 4 of Legislative Decree No. 1372 and its modifying norms.

(…)

j) Sworn statement of not having criminal records, in the case of the provider being a natural person. In the case of the provider being a legal entity, a sworn statement signed by the legal representative, of not having a sanction imposed in accordance with Article 105 of the Penal Code, Law No. 30424, or the applicable special penal law.

(…)

Artículo 19. Utilization and responsibility of third parties or intermediaries

19.1 The obligated subject, if it deems it necessary, may use third parties or intermediaries to comply with services related to the identification and/or verification of information of clients, directors, workers, and providers, if applicable.

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000

19.2 The obligated subject must adopt the corresponding measures to obtain the information, copies of identification data, and other pertinent documentation; as well as a sworn statement by which the third party or intermediary states that it has adopted the necessary measures to comply with the provisions in matters of due diligence in the knowledge of clients, directors, workers, and providers, if applicable.

19.3 The obligated subject maintains responsibility for the due diligence process in the knowledge of clients, directors, workers, and providers, if applicable, even when this has been entrusted to a third party or intermediary, linked or not, being required to supervise the compliance with the provisions of the current regulations.

Artículo 20. General aspects of training

20.1. Workers and directors, if such a governing body exists, as well as the obligated subject, when this is a natural person, must receive within one calendar year, at least one training in matters of prevention and detection of ML/TF, except for the exception cases referred to in paragraph 4.3 of Article 4 of this standard.

20.2. The training is the obligation of the obligated subject and may be taught under any modality, by third parties or specialized entities, which must issue the respective certificate. Such certificates must be available to the UIF-Peru, and must be kept together with the information corresponding to each director or worker, in physical or electronic medium.

20.3. Without prejudice to what is provided in paragraph 20.2, the training may be taught solely by the compliance officer of the obligated subject who must issue the respective certificate with the character of a sworn statement, to be included in the information corresponding to each director or worker. Such statement must indicate the date, place, duration of this, modality, the name(s) of the participants, positions held, and the syllabus. No training certificate issued by the compliance officer in favor of themselves is admissible.

20.4. As part of the induction, within thirty (30) days following the date of entry of the new worker or director, the obligated subject through the compliance officer must inform them about the scope of the AML/CFT unit, leaving a record of this. The induction in this matter does not replace the minimum training referred to in paragraphs 20.1 to 20.3 of this article.

(..)

Artículo 22. Operation Record (OR)

22.1. The obligated subject must keep and maintain updated an operation record (OR) in accordance with what is established in this article, in what is established for each type of obligated subject in Title II of this Standard and in accordance with the procedure included in the corresponding OR Instruction. The OR has a confidential character.

(…)

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000
22.4. The obligated subject, through the compliance officer, sends the RO in the structure, periodicity, format, and instructions established by the SBS by Resolution, as well as any other additional information requested by it.
The RO Template, as well as its Instruction Manual, are published on the Anti-Money Laundering and Terrorist Financing Prevention Portal - PLAFT Portal (https://plaft.sbs.gob.pe/) enabled by the SBS, to which only obligated subjects have access, exclusively through their compliance officers duly registered with the UIF-Peru, in accordance with current regulations.
22.5. The RO contains as a minimum for each operation, the information provided for in article 24 of the Regulations and article 16 of this Standard, as applicable.
(…)
Article 23. Report of Suspicious Operations (ROS)
(…)
23.3. The obligated subject, through the compliance officer, submits the ROS and attached or complementary documentation to the UIF-Peru through the ROSEL system, using the ROSEL template for this purpose. The ROSEL Template is published on the Anti-Money Laundering and Terrorist Financing Prevention Portal - PLAFT Portal (https://plaft.sbs.gob.pe/) enabled by the SBS, to which only obligated subjects have access, exclusively through their compliance officers duly registered with the UIF-Peru, in accordance with current regulations. In no case must the identity of the compliance officer or the obligated subject, nor any other element that could contribute to identifying them, be recorded in the ROS, except for the secret codes assigned by the UIF-Peru.
23.4. The compliance officer, on behalf of the obligated subject, leaves documentary evidence of the analysis and evaluations carried out, for the classification of an operation as unusual or suspicious, as well as the reason why an operation was not classified as unusual or suspicious and reported to the UIF-Peru, if applicable.
The documentary support for the analysis and evaluations is preserved in accordance with what is provided in article 31 of this Standard; and contains at least the following information:
(…)
23.4.2. Identification data of the persons participating in the operation, whether natural or legal persons, national or foreign, and who act on their own behalf, for their own benefit, or through a representative or agent (orderer/owner, beneficiary/acquirer, executor); and regarding the legal entity where applicable, recording at least the following:
(…)
2. In the case of a legal person or legal entity: (…) (vii) Identification of the beneficial owner, in accordance with article 4 of Legislative Decree 1372 and its amendments.

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000
23.4.3. Identified alert signals: (i) description of the alert signal; (ii) source of the alert signal, specifying whether it comes from the Anti-Money Laundering and Terrorist Financing Prevention Portal (plaft.sbs.gob.pe) or if it has been identified by the obligated subject itself. The mere identification of alert signals does not necessarily imply that the operation is unusual or suspicious.
(…)
Article 24. Manual and Code of Conduct for the prevention and management of ML/FT risks
24.1. The obligated subject must have a manual and a code, of mandatory compliance, in accordance with what is established in articles 26 to 28 of the Regulations of the UIF Law, as applicable according to the applicable norms established in Title II of this Standard.
The obligated subject that is a natural person and carries out the activity alone, without having workers for the development of the activity, for which it is subject to this standard, is not obliged to have a manual and a code.
24.2. The Manual contains, in addition to what is provided for in paragraph 26.1 of the Regulations of the UIF Law, the development of due diligence procedures in customer and beneficial owner knowledge with a risk-based approach; knowledge of directors, workers, and suppliers when applicable; the identification and evaluation of the ML/FT risks of the obligated subject for the purpose of applying control measures and the periodicity with which the classification of said risks is updated; the development of the procedure for identifying unusual and/or suspicious operations; the alert signals of the ROSEL system that, considering the activity carried out by the obligated subject, it must take into account for the purpose of detecting unusual or suspicious operations, as well as those identified by the obligated subject in the development of its activities and the criteria to be adopted regarding amounts, time periods, or other aspects of the alert signals. The aspects contemplated and developed in the Manual may be included in said document or in another internal normative document of the obligated subject, provided that said documents have the same approval procedure.
For the development of the aforementioned procedures, the obligated subject may take into account: the objective of the procedure, detailed activities to be executed, responsible parties, deadlines for the execution of said activities, among other aspects considered by the obligated subject.
(…)
24.4. As a minimum, the Code must contain the following infractions: (…) (iv) failing to comply with or violating the procedures, guides, and/or guidelines established by the obligated subject for due diligence in customer knowledge, beneficial owner knowledge, workers, directors, and suppliers, when applicable; (…).
24.5. The Manual and the Code must be made known to the entire administrative and operational organization of the obligated subject, its workers and directors, if applicable, and this must be documented, except for the exception cases referred to in paragraph 4.3 of article 4 of this standard. The accreditation of the making known is through a sworn statement, which includes the subscriber's commitment to comply with what is established in such documents in the exercise of their functions, in accordance with what is established in paragraph 24.6.

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000 In the event that the obligated subject updates or modifies its Manual or Code, it must make the new version of the Manual or Code known to the entire administrative and operational organization of the obligated subject, its workers and directors, if applicable, except for the exception cases referred to in paragraph 4.3 of article 4 of this standard, within thirty (30) days following the approval of the modification or update by the competent body of the obligated subject, leaving a record of this through the sworn statement as indicated in paragraph 24.6. (…)
Article 28. Identification and evaluation of ML/FT risks
The obligated subject must develop and implement procedures for the identification and evaluation of ML/FT risks, taking into account the ML/FT risk factors to which it is exposed, as well as the results of the National Risk Assessment of ML/FT, which must be reflected in the Manual. For this purpose, it must:

1. Perform segmentation of its clients considering as a minimum the risk factors established in article 27 of this standard.
2. Identify the ML/FT risks of its activity.
3. Evaluate the possible occurrences and impact of the identified risks. This evaluation must take into account, among other aspects, the frequency with which the identified segments appear, the distribution channel of the product and/or service, as well as other attributes of the risk factor "products and/or services". Likewise, the evaluation must be carried out when the obligated subject decides to use new technologies associated with the products and/or services offered or when a change is made to an existing product that modifies its ML/FT risk profile.
4. Implement adequate control measures to mitigate the different types and levels of ML/FT risk identified considering the risk factors, so that intensified measures can be applied to manage and mitigate major risks and simplified measures for minor risks.
5. Permanently monitor the results of the applicable controls and their degree of effectiveness, to detect those operations that result as unusual or suspicious and correct the existing deficiencies in the ML/FT risk management process.
   The report containing the ML/FT risk evaluation, as well as the methodology used to carry out said evaluation, must be available to the UIF-Peru.
   The obligated subject updates the identification and evaluation of its ML/FT risks every three (3) years.
   (…)
   Article 33. Internal audit of the obligated subject
   (…)
   33.2. The internal audit area, in case the obligated subject has it, or the manager or equivalent position different from the compliance officer of the obligated subject, when the obligated subject does not have an internal audit area, prepares an annual internal audit report (IAI) on the evaluation of the SPLAFT which comprises at least the following aspects:

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000

1. Establishment of procedures to identify and evaluate the ML/FT risks of the obligated subject and the periodicity with which said risks are updated.
2. Establishment of policies that ensure adequate knowledge of the client, directors, workers, and suppliers, as applicable.
3. Existence of the Manual and Code, duly approved, disseminated, and mandatory for the entire administrative and operational organization of the obligated subject, its workers and directors, if applicable, except for the exception cases referred to in paragraph 4.3 of article 4 of this standard, updated and in accordance with current legislation and level of compliance.
4. Existence of annual training according to the contents provided for in current regulations.
5. Verify the criteria applied by the compliance officer to not consider certain operations as suspicious.
6. Implementation, filling, and timely submission of the RO in accordance with the content, structure, instructions, and means established in current regulations.
7. Timely submission of other records, reports, and reports that must be communicated to the UIF-Peru, verifying that they contain real information and in accordance with the content, structure, and instructions established for them.
8. Timely communication of the ROS, which in no way implies access to them.
9. Compliance with regulations on the prevention of ML/FT.
10. Others determined by the SBS.
    (…)
    Article 36. ML/FT prevention system
    36.1 The obligated subject dedicated to the activity of real estate agent who is a natural person, with or without workers in accordance with the definition provided in item 48 of article 3 of this standard and receives annual consideration within the calendar year less than 97 UIT, implements a general SPLAFT, in accordance with the provisions established only in items 1, 2, 3, 4, 9, 10, 11, 14, 16 insofar as applicable and 18 of paragraph 36.4 of this article.
    36.2 The obligated subject dedicated to the activity of real estate agent who is a natural person, with or without workers in accordance with the definition provided in item 48 of article 3 of this standard and receives annual consideration within the calendar year greater than 97 UIT; as well as the real estate agent who is a legal person, with or without workers, who receives annual consideration within the calendar year up to 217 UIT, implements a general SPLAFT, in accordance with what is provided in paragraphs 4.1 to 4.7 of article 4 of this standard and items 1 to 18 of paragraph 36.4 of this article.
    36.3 The obligated subject dedicated to the activity of real estate agent who is a legal person, with or without workers in accordance with the definition provided in item 48 of article 3 of this standard and receives annual consideration within the calendar year greater than 217 UIT, implements a general SPLAFT, in accordance with what is provided in paragraphs 4.1 to 4.7 of article 4 of this standard and items 1 to 18 of paragraph 36.4 of this article.
    36.4 The general SPLAFT implemented by the real estate agent referred to in paragraphs 36.2 and 36.3 comprises the following provisions:

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000

1. Compliance Officer: Regarding the compliance officer, alternate compliance officer, and corporate compliance officer, as applicable, the obligated subject must take into account what is provided in articles 5 to 13 of this Standard.
2. Client: Any natural or legal person, national or foreign, who requests and receives from the obligated subject the provision of real estate brokerage services for the purchase and sale of real estate, in exchange for economic consideration.
3. Customer, beneficial owner knowledge, and due diligence: Customer knowledge implies for the obligated subject referred to in paragraph 36.1, the identification of the client in accordance with what is provided in article 14 of this Standard, considering for this purpose only the stages of identification and verification of due diligence in customer knowledge referred to in paragraphs 15.2.1 and 15.2.2 of article 15 of this Standard.
   Customer knowledge by the obligated subject referred to in paragraphs 36.2 and 36.3 implies the identification of the client and the beneficial owner, in accordance with what is provided in article 14 of this Standard, considering for this purpose the stages of due diligence in customer knowledge referred to in article 15 of this Standard.
4. Customer due diligence regime: The obligated subject referred to in paragraph 36.1 applies the simplified due diligence regime to the client, taking into consideration what is provided in paragraph 16.3 of article 16 of this Standard.
   The obligated subject referred to in paragraphs 36.2 and 36.3 applies the general and reinforced due diligence regimes to the client, as applicable, taking into consideration what is provided in paragraphs 16.1 and 16.2 of article 16 of this Standard.
5. Beneficial Owner Knowledge: The obligated subject identifies the beneficial owner, in accordance with what is established in article 14 of this Standard.
6. Knowledge of directors and workers: The obligated subject complies with what is provided in article 17 of this Standard.
7. Knowledge of suppliers: The provisions established in article 18 of this Standard regarding suppliers are not applicable to the obligated subject.
8. Use of third parties or intermediaries: The obligated subject may use third parties or intermediaries, in accordance with what is provided in article 19 of this Standard.
9. Training: Only the compliance officer of the obligated subject referred to in paragraph 36.1 must receive at least one training in the prevention and/or detection of ML/FT within a calendar year, in accordance with what is provided in articles 20 and 21 of this Standard.
   The obligated subject referred to in paragraphs 36.2 and 36.3 must provide training to its workers and directors, according to their functions, in accordance with what is provided in articles 20 and 21 of this Standard.

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000
10. Register of Operations (RO): The obligated subject keeps and preserves an RO, in accordance with what is provided in article 22 of this Standard and the following provisions:

1. The following real estate brokerage operations for the purchase and sale of real estate are subject to the RO: 1) Purchase and sale of land lot. 2) Purchase and sale of single-family housing. 3) Purchase and sale of housing located in a multifamily building, residential complex/housing complex. 4) Purchase and sale of real estate unit intended for office or commerce. 5) Purchase and sale of real estate unit intended for parking. 6) Purchase and sale of real estate unit intended for storage.
2. Thresholds for the RO:
   a) Regarding real estate brokerage for the purchase and sale of land lots, operations with amounts equal to or exceeding US$ 30,000.00 (thirty thousand and 00/100 US dollars), their equivalent in national currency or other currencies, if applicable, are subject to the RO. b) Regarding real estate brokerage for the purchase and sale of single-family housing; purchase and sale of housing located in a multifamily building, residential complex/housing complex; Purchase and sale of real estate unit intended for office or commerce; purchase and sale of real estate unit intended for parking; purchase and sale of real estate unit intended for storage; in accordance with the definitions provided in the National Building Regulations approved by Supreme Decree N° 011-2006-VIVIENDA, the Technical Standards that integrate it, or those that replace them, operations with amounts equal to or exceeding US$ 100,000.00 (one hundred thousand and 00/100 US dollars), their equivalent in national currency or other currencies, if applicable, are subject to the RO, regardless of whether it is for the purchase and sale of one or more of the aforementioned goods. The applicable exchange rate to fix the equivalent in national currency or other currencies, if applicable, is that provided in item b) of paragraph 24.4 of article 24 of the Regulations of the UIF Law. Without prejudice to the aforementioned thresholds, the obligated subject may establish internal thresholds lower than the RO, which can be fixed based on the risk analysis of the operations it carries out, the economic sector, the client profile, or any other criterion it determines, in accordance with what is established in this standard.
3. For the purpose of registering operations in the RO, it is understood that these are registered on the date of payment of the commission for the real estate brokerage, without prejudice to the date of celebration of the purchase and sale contract.
4. For the amount of the operation, for the purposes of the RO, the total amount of the purchase and sale is considered, without prejudice to the form of payment thereof, and single or partial payments are also subject to the RO, provided they exceed the threshold established by the UIF-Peru.

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000
5. Regarding operations involving: i) addendum (Additional Clause) to the real estate purchase and sale contract that was subject to the RO and entails that the total amount of the contract exceeds the threshold established by the UIF-Peru; and/or ii) cancellation (rescission or resolution) of the real estate purchase and sale contract, provided it affects an operation that has been subject to the RO; the UIF-Peru will establish the structure, format, and electronic medium or other mechanism for their submission.
11. Report of Suspicious Operations (ROS): The obligated subject must comply with what is provided in article 23 of this standard.
12. Internal norms for the prevention of ML/FT: The obligated subject referred to in paragraph 36.2 must have a Manual and a Code, in accordance with what is provided in article 24 of this Standard, unless it lacks workers, in which case it is only obliged to have a Manual. The obligated subject referred to in paragraph 36.3 must have a Manual and a Code, in accordance with what is provided in article 24 of this Standard.
13. Economic Group: Obligated subjects forming part of the same economic group, which have a corporate compliance officer as provided in articles 9 and 10 of this Standard, must develop corporate policies and procedures regarding the SPLAFT, in accordance with what is established in article 25 of this Standard.
14. Annual Report of the Compliance Officer (IAOC): The obligated subject, through its compliance officer, prepares and submits the IAOC to the supervisory body, in accordance with what is established in article 26 of this Standard.
15. Identification and evaluation of ML/FT risks: The obligated subjects referred to in paragraphs 36.2 and 36.3 identify and evaluate ML/FT risks, in accordance with what is established in articles 27 to 29 of this Standard, except regarding the update of the ML/FT risk evaluation, which they must carry out every 5 and 3 years, respectively.
16. Submission and preservation of information: The obligated subject submits and preserves SPLAFT information, in accordance with what is established in articles 30 and 31 of this Standard, as applicable.
17. Internal and external audit: The obligated subject is not obliged to carry out internal and external audit in the matter of ML/FT prevention, unless in the latter case the legal obligation provides otherwise. The SBS, according to the ML/FT risk analysis of the activity, may determine the need for the obligated subject to carry out internal or external audit.
18. Duty of Confidentiality and exemption from liability: The obligated subject complies with what is provided in article 35 of this Standard.
(…)

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000

Article 37. System for the Prevention of ML/TF

The obligated subject engaged in the commercialization (purchase and sale and/or leasing) of new or used machinery and equipment, which are included in National Subheadings No. 84.29, No. 85.02, and No. 87.01 of the national tariff classification, must implement an AML/CFT System, in accordance with the provisions of Article 4 of this Standard and according to the following provisions:

(…)

2. Client: Any natural or legal person, national or foreign, who carries out a purchase and sale and/or leasing operation of new or used machinery and equipment, which are included in National Subheadings No. 84.29, No. 85.02, and No. 87.01 of the national tariff classification, in exchange for economic consideration. A client is considered to be the person who acquires, for valuable consideration, from the obligated subject (buyer), machinery and equipment included in National Subheadings No. 84.29, No. 85.02, and No. 87.01 of the national tariff classification, and the lessee of the obligated subject.

3. Customer Due Diligence, Ultimate Beneficiary, and Due Diligence: (…)

(…)

7. Knowledge of Suppliers: The obligated subject must apply due diligence procedures regarding its suppliers, in accordance with the provisions of Article 18 of this Standard.

(…)

9. Training: The obligated subject must provide training to its workers and directors, according to their functions, in accordance with the provisions of Articles 20 and 21 of this Standard.

10. Operation Registration (OR): The obligated subject keeps and maintains an OR, in accordance with the provisions of Article 22 of this Standard, and the following aspects:

1. The following operations are subject to the OR: 1) Purchase of new or used machinery and equipment. 2) Sale of new or used machinery and equipment. 3) Leasing of new or used machinery and equipment.

2. Thresholds for the OR:
a. Regarding the purchase and sale of new or used machinery and equipment, which are included in National Subheadings No. 84.29, No. 85.02, and No. 87.01 of the national tariff classification, operations with amounts equal to or exceeding US$ 50,000.00 (fifty thousand and 00/100 US dollars), or their equivalent in national currency or other currencies, if applicable, are subject to the OR. b. Regarding the leasing of new or used machinery and equipment, which are included in National Subheadings No. 84.29, No. 85.02, and No. 87.01 of the national tariff classification, operations with amounts equal to or exceeding US$ 10,000.00 (ten thousand and 00/100 US dollars), or their equivalent in national currency or other currencies, if applicable, are subject to the OR.

(…)

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000

3. For the purposes of registering operations in the OR, it is understood that these are registered on the date of celebration of the purchase and sale or leasing contract (subscription by the contracting parties) or the date of the payment voucher or the date of the first payment, whichever occurs first.

4. For the amount of the operation, for the purposes of the OR, the total amount of the operation subject to the OR is considered, regardless of the form of payment thereof; likewise, the respective single or partial payments are subject to the OR, provided they exceed the threshold established by UIF-Perú.

5. Regarding operations involving: i) an addendum (Additional Clause) to the purchase and sale or leasing contract that was subject to the OR and results in the total amount of the contract exceeding the threshold established by UIF-Perú; and/or ii) cancellation (Rescission or resolution) of the purchase and sale or leasing contract, provided it affects an operation that was subject to the OR; UIF-Perú will establish the structure, format, and electronic medium or other mechanism for sending them.

(…)

Article 38. System for the Prevention of ML/TF

(…)

2. Client: Any natural or legal person, national or foreign, who carries out a purchase and sale operation of jewelry and purchase and sale of precious metals and/or precious stones. A client is considered to be the person who acquires, for valuable consideration, from the obligated subject (buyer), jewelry, precious metals, and/or precious stones.

Regarding the mining company, the client is the natural or legal person, national or foreign, who carries out a purchase and sale, import for consumption, and/or definitive export operation of raw or semi-finished gold, as well as that obtained as a direct product of a mining and/or metallurgical process, in exchange for economic consideration.

3. Customer Due Diligence, Ultimate Beneficiary, and Due Diligence: (…)

(…)

9. Training: The obligated subject must provide training to its workers and directors, according to their functions, in accordance with the provisions of Articles 20 and 21 of this Standard.

10. Operation Registration (OR): The obligated subject keeps and maintains an OR, in accordance with the provisions of Article 22 of this Standard, and the following aspects:

1. The following operations are subject to the OR:
a. For the obligated subject engaged in the trade of jewelry: 1) Purchase of jewelry. 2) Sale of jewelry.

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000

b. For the obligated subject engaged in the trade of precious metals and/or precious stones: 1) Purchase of gold. 2) Sale of gold. 3) Purchase of precious stones. 4) Sale of precious stones.
c. For the mining company: 1) Purchase of raw or semi-finished gold or obtained as a direct product of a mining and/or metallurgical process. 2) Sale of raw or semi-finished gold or obtained as a direct product of a mining and/or metallurgical process. 3) Definitive export of raw or semi-finished gold, as well as that obtained as a direct product of a mining and/or metallurgical process. 4) Import for consumption of raw or semi-finished gold, regardless of the denomination given to it, as well as that obtained as a direct product of a mining and/or metallurgical process.

(…)

3. For the purposes of registering operations in the OR, it is understood that these are registered:
   a. In the case of purchase and sale of jewelry, whether it is one or more pieces: on the date of issuance of the payment voucher or the date of the first payment, if applicable. b. In the case of the purchase and sale of the precious metal gold and the purchase and sale of precious stones: on the date of celebration of the purchase and sale contract (subscription by the contracting parties) or the date of the payment voucher or the date of the first payment, if applicable.
   c. In the case of the mining company: 1) Purchase and sale of raw or semi-finished gold or obtained as a direct product of a mining and/or metallurgical process. 2) Import for consumption of raw or semi-finished gold, as well as that obtained as a direct product of a mining and/or metallurgical process; 3) Definitive export of raw or semi-finished gold, as well as that obtained as a direct product of a mining and/or metallurgical process: on the date of celebration of the purchase and sale contract (subscription by the contracting parties) or the date of the payment voucher or the date of the first payment, if applicable.

4. For the amount of the operation, for the purposes of the OR, the total amount of the operation subject to the OR is considered, regardless of the form of payment thereof; likewise, the respective single or partial payments are subject to the OR, provided they exceed the threshold established by UIF.

5. Regarding operations involving: i) an addendum (Additional Clause) to the purchase and sale contract that was subject to the OR and results in the total amount of the contract exceeding the threshold established by UIF-Perú; and/or ii) cancellation (Rescission or resolution) of the purchase and sale contract, provided it affects an operation that was subject to the OR; UIF-Perú will establish the structure, format, and electronic medium or other mechanism for sending them.

(…)

17. Internal and External Audit: The obligated legal person engaged in the activity of trade of jewelry, trade of precious metals and/or precious stones, and the mining company is obliged to carry out internal and external audits, when applicable, in accordance with the provisions of Articles 33 and 34 of this Standard. The SBS, according to the ML/TF risk analysis, may determine the need for the obligated subject not to carry out internal or external audits.

(…)

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000

Article 39. System for the Prevention of ML/TF

The obligated subject dedicated to the activity of purchase and sale of currencies implements an AML/CFT System, in accordance with the provisions of Article 4 of this Standard and according to the following provisions:

(…)

2. Client: Any natural or legal person, national or foreign, who carries out a purchase and sale operation of currencies, either in person or electronically through a virtual platform.

3. Customer Due Diligence, Ultimate Beneficiary, and Due Diligence: (…)

4. Due Diligence Regimes in Customer Knowledge: The obligated subject applies to its clients the simplified, general, and enhanced due diligence regimes, as indicated below:

(…)

General Due Diligence Regime in Customer Knowledge

When the client carries out operations with amounts equal to or greater than US$ 5,000.00 (five thousand and 00/100 US dollars) or their equivalent in national currency or other currencies, the obligated subject must request the person carrying out the operation (executor) to present the information referred to in items 1 to 11 of paragraph 16.1.1 of Article 16 of this Standard.

Likewise, regarding the information referred to in item 9 of paragraph 16.1.1 of Article 16 of this Standard, it must request the main economic activity of the legal person; and the address and telephone number of the main office or premises, where it develops the activities typical of its business.

(…)

(…)

9. Training: The obligated subject must provide training to its workers and directors, according to their functions, except for the exception cases referred to in paragraph 4.3 of Article 4 of this Standard, and in accordance with the provisions of Articles 20 and 21 of this Standard.

10. Operation Registration (OR): The obligated subject keeps and maintains an OR, in accordance with the provisions of Article 22 of this Standard, and the following aspects:

1. The individual purchase and sale operations of currencies by the client are subject to the OR.

2. Thresholds for the OR: The obligated subject must register the individual operations of its clients, with amounts equal to or greater than US$ 5,000.00 (five thousand and 00/100 US dollars) or their equivalent in national currency or other currencies, if applicable. The exchange rate applicable to fix the equivalent in national currency or other currencies, if applicable, is the one provided for in item b) of paragraph 24.4 of Article 24 of the UIF Law Regulations.

(…)

(…)

17. Internal and External Audit: The obligated legal person dedicated to the activity of purchase and sale of currencies is obliged to carry out internal and external audits, when applicable, in accordance with the provisions of Articles 33 and 34 of this Standard. The SBS, according to the ML/TF risk analysis of the activity, may determine the need for the obligated subject to require or not to carry out internal or external audits.

(…)

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000

Article 40. System for the Prevention of ML/TF

The obligated subject dedicated to the activity of purchase and sale of vehicles and vessels, in accordance with the definitions provided in Article 3 of this Standard, implements an AML/CFT System, in accordance with the provisions of Article 4 of this Standard; according to the following provisions:

(…)

2. Client: Any natural or legal person, national or foreign, who carries out a purchase and sale operation of a new vehicle or a new vessel with the obligated subject, in exchange for economic consideration. A client is considered to be the person who acquires, for valuable consideration (buyer), from the obligated subject, a new vehicle or a new vessel.

3. Customer Due Diligence, Ultimate Beneficiary, and Due Diligence: (…)

(…)

9. Training: The obligated subject must provide training to its workers and directors, according to their functions, except for the exception cases referred to in paragraph 4.3 of Article 4 of this Standard, and in accordance with the provisions of Articles 20 and 21 of this Standard.

10. Operation Registration (OR): The obligated subject keeps and maintains an OR, in accordance with the provisions of Article 22 of this Standard, according to the following:

(…)

3. For the purposes of registering operations in the OR, it is understood that these are registered on the date of issuance of the payment voucher or the date of the first payment, if applicable, regardless of their formalization in a public instrument and/or registration or annotation.

4. For the amount of the operation, for the purposes of the OR, the total sale price is considered, regardless of the form of payment thereof; likewise, the respective single or partial payments are subject to the OR, provided they exceed the threshold established by UIF-Perú.

5. Regarding operations involving: i) an addendum (Additional Clause) to the purchase and sale contract that was subject to the OR and results in the total amount of the contract exceeding the threshold established by UIF-Perú; and/or ii) cancellation (Rescission or resolution) of the purchase and sale contract, provided it affects an operation that was subject to the OR; UIF-Perú will establish the structure, format, and electronic medium or other mechanism for sending them.

(…)

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000

Article 41. System for the Prevention of ML/TF

The obligated subject dedicated to the construction and real estate activity implements an AML/CFT System, in accordance with the provisions of Article 4 of this Standard and according to the following provisions:

(…)

2. Client:

1. Regarding the construction activity, the client is considered to be the natural or legal person, national or foreign, who is not the State, who hires the obligated subject for the execution of a new building work for housing, office, and/or commercial purposes.

2. Regarding the real estate activity, developed by real estate agencies, the client is considered to be the person who acquires, for valuable consideration, from the obligated subject (buyer), a property.

3. Customer Due Diligence, Ultimate Beneficiary, and Due Diligence: (…)

(…)

9. Training: The obligated subject must provide training to its workers and directors, according to their functions, in accordance with the provisions of Articles 20 and 21 of this Standard.

10. Operation Registration (OR): The obligated subject keeps and maintains an OR, in accordance with the provisions of Article 22 of this Standard, according to the following provisions:

1. The following are subject to the OR:
a. For the obligated subject dedicated to the construction activity: 1) New building work for housing, office, and/or commercial purposes, commissioned by a third party who is not the State (excludes metallic structures or similar). b. For real estate agencies: 1) Purchase and sale of land lot. 2) Purchase and sale of single-family housing. 3) Purchase and sale of housing located in a multifamily building, residential complex. 4) Purchase and sale of real estate unit intended for office or commerce. 5) Purchase and sale of real estate unit intended for parking. 6) Purchase and sale of real estate unit intended for storage.

2. Thresholds for the OR:
a. Regarding new building works for housing, office, and/or commercial purposes, which are executed directly or through third parties (excluding State works), the obligated subject must register operations that equal or exceed US$ 100,000.00 (one hundred thousand and 00/100 US dollars), their equivalent in national currency or other currencies, if applicable.

(…)

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000

c. Regarding Purchase and sale of single-family housing; Purchase and sale of housing located in a multifamily building, residential complex; Purchase and sale of real estate unit intended for office or commerce; Purchase and sale of real estate unit intended for parking; Purchase and sale of real estate unit intended for storage; in accordance with the definitions provided in the National Building Regulations, the Technical Standards that integrate it, or those that replace them, operations with amounts equal to or exceeding US$ 100,000.00 (one hundred thousand and 00/100 US dollars), their equivalent in national currency or other currencies, if applicable, are subject to the OR.

(…)

3. For the purposes of registering operations in the OR, it is understood that these are registered on the date of celebration of the purchase and sale contract (subscription by the contracting parties) or the date of the payment voucher or the date of the first payment, whichever occurs first, regardless of their formalization in a public instrument and/or registration or annotation.

4. For the amount of the operation, for the purposes of the OR, the total amount of the work or the total price of the purchase and sale is considered, regardless of the form of payment thereof; likewise, the respective single or partial payments are subject to the OR, provided they exceed the threshold established by UIF-Perú.

5. Regarding operations involving: i) an addendum (Additional Clause) to the contract that was subject to the OR and results in the total amount of the contract exceeding the threshold established by UIF-Perú; and/or ii) cancellation (Rescission or resolution) of the contract that was subject to the OR, provided it affects an operation that was subject to the OR; UIF-Perú will establish the structure, format, and electronic medium or other mechanism for sending them.

(…)

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000

Article 43. System for the Prevention of ML/TF

The obligated subject that is an NPO, within the scope of this Standard, implements a general AML/CFT System, in accordance with the provisions of Article 4 of this Standard and according to the following provisions:

(…)

2. Client: Any natural or legal person, national or foreign, who requests and receives (…)

3. Customer Due Diligence, Ultimate Beneficiary, and Due Diligence: Customer knowledge implies, by the obligated subject, the identification of the client in accordance with the provisions of Article 14 of this Standard, considering for this purpose the stages of due diligence in customer knowledge referred to in Article 15 of this Standard.

The obligated subject applies due diligence measures in customer knowledge, based on the ML/TF risk, at the appropriate time and requiring the minimum information referred to in Article 16 of this Standard.

(…)

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000

9. Training: The obligated subject must provide training to its workers and directors, according to their functions, in accordance with the provisions of Articles 20 and 21 of this Standard.

10. Operation Registration (OR): The obligated subject keeps and maintains an OR, in accordance with the provisions of Article 22 of this Standard, and the following aspects:

1. The following operations are subject to the OR: 1) Credit or microcredit (loan of money) without guarantee. 2) Credit or microcredit (loan of money) with movable or immovable guarantee. 3) Credit or microcredit (loan of money) with guarantee of jewelry or other objects of gold or silver and/or gold in ingots. 4) Advance payments of credit or microcredit (loan of money) with or without guarantee. 5) Early cancellation of credit or microcredit (loan of money) with or without guarantee. 6) Realization and/or adjudication of jewelry or other objects of gold or silver, as well as gold in ingots granted as guarantee, indicating the net value; 7) Donations made and/or received, identifying the source from where the funds originate.

(…)

3. For the purposes of registering operations in the OR, it is understood that these are registered, according to the following:

   a. In the case of credit or microcredit (loan of money) without guarantee: on the date of celebration of the contract (subscription by the contracting parties) or the date of the first disbursement of the loan, if applicable. b. In the case of credit or microcredit (loan of money) with movable or immovable guarantee: on the date of celebration of the contract (subscription by the contracting parties) or the date of the first disbursement of the loan or the date of delivery (physical or legal) of the movable guarantee or the date of constitution of the immovable guarantee (mortgage); whichever occurs first.
   c. In the case of credit or microcredit (loan of money) with guarantee of jewelry or other objects of gold or silver and/or gold in ingots: on the date of celebration of the contract (subscription by the contracting parties) or on the date of the first disbursement or the date of delivery (physical or legal) of the guarantee; whichever occurs first.
   d. In the case of advance payments of credit or microcredit (loan of money) with or without guarantee: on the date of advance payment according to the payment voucher. e. In the case of early cancellation of credit or microcredit (loan of money) with or without guarantee: on the date of cancellation according to the payment voucher. f. In the case of realization and/or adjudication of jewelry or other objects of gold or silver, as well as gold in ingots granted as guarantee: on the date of realization and/or adjudication. g. In the case of donations made and/or received, identifying the source from where the funds originate: on the date of celebration of the contract, on the date of acceptance of the donation, on the date of physical or legal delivery, total or partial, of the donation, whichever occurs first.

4. For the amount of the operation, for the purposes of the OR, the total amount of the operation subject to the OR is considered, regardless of the form of payment thereof; likewise, the respective single or partial payments are subject to the OR, provided they exceed the threshold established by UIF-Perú.

(…)

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000

Artículo 44. System for the Prevention of ML/TF (…)

2. Client: Any natural or legal person, national or foreign, who requests and receives from the obligated subject, either in person or electronically through a virtual platform, a sum of money in the nature of a loan. The beneficiary (borrower) of the operation is considered a client, as is the executor in case they are a person different from the beneficiary (borrower) of the operation. The client or a third party may grant as collateral a movable and/or immovable asset, including collateral on jewelry or other gold or silver objects, as well as gold in bars, in which case the guarantor is considered a client, if applicable.

3. Customer Knowledge, Ultimate Beneficiary, and Due Diligence: Customer knowledge implies, on the part of the obligated subject, the identification of the client in accordance with what is provided for in Article 14 of this Standard, considering for such effect the stages of due diligence in customer knowledge referred to in Article 15 of this Standard.
The obligated subject applies customer due diligence measures, based on the ML/TF risk, at the appropriate time and requiring the minimum information referred to in Article 16 of this Standard.
(…)

9. Training: The obligated subject must provide training to its employees and directors, according to their functions, in accordance with what is provided for in Articles 20 and 21 of this Standard.

10. Operations Register (OR): The obligated subject maintains and preserves an OR, in accordance with what is provided for in Article 22 of this Standard, and the following aspects:

1. The following are operations subject to the OR: 1) Loan of money without collateral. 2) Loan of money with movable or immovable collateral. 3) Loan of money with collateral on jewelry or other gold or silver objects and/or gold in bars. 4) Advance payments of the loan of money with or without collateral. 5) Early cancellation of the loan of money with or without collateral. 6) Realization and/or allocation of the asset granted as collateral, indicating the net value.

2. Thresholds for the OR:
(…)

b. Regarding operations 2), 3), 4), and 5) of paragraph 1 of numeral 10 of this article, subject to the OR: the obligated subject must register operations that equal or exceed US$ 2,500.00 (two thousand five hundred and 00/100 US dollars) or its equivalent in national currency or other currencies (…)

c. Regarding operation 6) of paragraph 1 of numeral 10 of this article, subject to the OR, they are subject to registration in the OR provided that the amount of payment is equal to or greater than US$ 2,500.00 (two thousand five hundred and 00/100 US dollars), its equivalent in national currency or other currencies, if applicable.

The exchange rate applicable to fix the equivalent in national currency or other currencies, if applicable, is that provided for in subsection b) of paragraph 24.4 of Article 24 of the Regulation of the UIF Law.

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000

Without prejudice to the aforementioned thresholds, the obligated subject may establish lower internal thresholds for the OR, which can be fixed based on the risk analysis of the operations it carries out, the economic sector, the client profile, or any other criterion it determines, in accordance with what is established in this Standard.

3. For the purposes of registering operations in the OR, it is understood that they are registered according to the following:

a. In the case of loan of money without collateral: on the date of celebration of the contract (subscription by the contracting parties) or the date of issuance of the payment voucher or the date of the first disbursement of the loan, if applicable.

b. In the case of loan of money with movable or immovable collateral: on the date of celebration of the contract (subscription by the contracting parties) or on the date of the first disbursement or on the date of delivery (physical or legal) of the movable collateral or the date of constitution of the immovable collateral (mortgage).

c. In the case of loan with collateral on jewelry or other gold or silver objects and/or gold in bars: on the date of celebration of the contract (subscription by the contracting parties) or on the date of the first disbursement or the date of delivery (physical or legal) of the collateral.

d. In the case of advance payments of the loan of money with or without collateral: on the date of the advance payment according to the payment voucher.

e. In the case of early cancellation of the loan of money with or without collateral: on the date of cancellation according to the payment voucher.

f. In the case of realization and/or allocation of jewelry or other gold or silver objects, as well as gold in bars granted as collateral: on the date of realization and/or allocation.

4. For the amount of the operation, for the purposes of the OR, the total amount of the operation subject to the OR is considered, regardless of the form of payment thereof, and the respective single or partial payments are also subject to the OR, provided they exceed the threshold established by UIF-Peru.
   (…)

CHAPTER X
PROFESSIONAL LEGAL ENTITY

Article 45.- System for the Prevention of ML/TF

The obligated subject, a professional legal entity, implements a SPLAFT, in accordance with what is provided for in Article 4 of this Standard and according to the following provisions:

1. Compliance Officer: Regarding the compliance officer, alternate compliance officer, and corporate compliance officer, if applicable, the obligated subject takes into account what is provided for in Articles 5 to 13 of this Standard.

2. Client: Any natural or legal person, national or foreign, who requests the obligated subject to act on their behalf or on their account, on a habitual basis, in any of the following activities, the information of which refers to that which is not subject to professional secrecy:

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000

a. sale and purchase of real estate; b. administration of money, securities, financial system accounts, or other assets;
c. organization of contributions for the creation, operation, or administration of legal entities;
d. creation, administration, and/or reorganization of legal entities or other legal structures; e. sale and purchase of shares or social participations of legal entities.

3. Customer Knowledge, Ultimate Beneficiary, and Due Diligence: Customer knowledge implies, on the part of the obligated subject, the identification of the client in accordance with what is provided for in Article 14 of this Standard, considering for such effect the stages of due diligence in customer knowledge referred to in Article 15 of this Standard.

4. Customer Due Diligence Regimes: The obligated subject applies the general and enhanced customer due diligence regime to the client, taking into consideration what is provided for in paragraphs 16.1 and 16.2 of Article 16 of this Standard.

5. Ultimate Beneficiary Knowledge: The obligated subject identifies the ultimate beneficiary, in accordance with what is established in Article 14 of this Standard.

6. Knowledge of Directors and Employees: The obligated subject complies with what is provided for in Article 17 of this Standard.

7. Knowledge of Suppliers: The provisions established regarding suppliers in Article 18 of this Standard are not applicable to the obligated subject.

8. Use of Third Parties or Intermediaries: The obligated subject may use third parties or intermediaries, in accordance with what is provided for in Article 19 of this Standard.

9. Training: The obligated subject must provide training to its employees and directors, according to their functions, in accordance with what is provided for in Articles 20 and 21 of this Standard.

10. Operations Register (OR): The obligated subject maintains and preserves an OR, in accordance with what is provided for in Article 22 of this Standard, and must register all of the following individual operations, regardless of the amount of the operation, the information of which refers to that which is not subject to professional secrecy: 1) Sale and purchase of real estate; 2) Administration of money, securities, financial system accounts, or other assets; 3) Organization of contributions for the creation, operation, or administration of legal entities; 4) Creation, administration, and/or reorganization of legal entities or other legal structures; 5) Sale and purchase of shares or social participations of legal entities.

The operations are registered in the OR on the day they are carried out, understood as such, the date of celebration of the respective contract (subscription by the contracting parties), without prejudice to their formalization in a public instrument and/or registration or annotation, or the date the payment for the respective act is made.

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000

For the purposes of the OR, regarding operations 1) and 5), the amount of the operation is considered the total price of the sale and purchase, regardless of the form of payment, and the respective single or partial payments are also subject to the OR. For the case of operations 2), 3), and 4), the total amount subject to the operation is noted.

Regarding operations involving: i) partial payments; ii) addendum (Additional Clause) to the respective contract that was subject to the OR and entails that the total amount of the contract is modified; and/or iii) cancellation (Rescission or resolution) of the respective contract whenever it affects an operation that has been subject to the OR; UIF-Peru will establish the structure, format, and electronic medium or other mechanism for sending them.

11. Suspicious Operations Report (SOR): The obligated subject complies with what is provided for in Article 23 of this Standard.

12. Internal Standards for the Prevention of ML/TF: The obligated subject must have a Manual and a Code, in accordance with what is provided for in Article 24 of this Standard.

13. Economic Group: Obligated subjects forming part of the same economic group, which have a corporate compliance officer as provided for in Articles 9 and 10 of this Standard, must develop corporate policies and procedures regarding the SPLAFT, in accordance with what is established in Article 25 of this Standard.

14. Annual Report of the Compliance Officer (ARCO): The obligated subject, through its compliance officer, prepares and sends the ARCO to the supervisory body, in accordance with what is established in Article 26 of this Standard.

15. Identification and Evaluation of ML/TF Risks: The obligated subject identifies and evaluates ML/TF risks, in accordance with what is established in Articles 27 to 29 of this Standard.

16. Submission and Preservation of Information: The obligated subject, through its compliance officer, submits and preserves SPLAFT information, in accordance with what is established in Articles 30 and 31 of this Standard.

17. Internal and External Audit: The obligated subject is obliged to carry out internal and external audits, when applicable, in accordance with what is provided for in Articles 33 and 34 of this Standard. The SBS, according to the ML/TF risk analyses of the activity, may determine the need for the obligated subject not to require carrying out internal or external audits.

18. Duty of Confidentiality and Exemption from Liability: The obligated subject complies with what is provided for in Article 35 of this Standard.
    (…)"

Article Second.- Modify Article 4 of Resolution SBS No. 789-2018, which shall read as follows:

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000

“Article 4.- The licensed attorney and licensed public accountant, who independently, through the personal exercise of their profession, carry out or intend to carry out on behalf of their client or on their account, on a habitual basis, the activities of sale and purchase of real estate; administration of money, securities, financial system accounts, or other assets; organization of contributions for the creation, operation, or administration of legal entities; creation, administration, and/or reorganization of legal entities or other legal structures; and, sale and purchase of shares or social participations of legal entities, the information of which refers to that which is not subject to professional secrecy, in their capacity as an obligated subject, must implement a system for the prevention of money laundering and terrorist financing (SPLAFT), in accordance with what is provided for by Law No. 27693 and its modifying norms, its Regulation, approved by Supreme Decree No. 020-2017-JUS, and what is provided for in this article.

The expression “who carry out or intend to carry out on behalf of their client or on their account, on a habitual basis,” refers to the fact that the licensed attorney or the licensed public accountant, independently, through the personal exercise of their profession, acts in direct or indirect representation of the client, or through a mandate with or without representation, in accordance with what is provided for in Articles 145 and following and 1790 and following of the Civil Code, respectively, in one or more of the cited operations, regardless of the amount of the operation.

The SPLAFT of the obligated subject, licensed attorney and licensed public accountant referred to in this article, must comply only with the following:

1. Have a Compliance Officer, taking into account what is provided for in Articles 14 to 18 of the Regulation of Law No. 27693.

2. Customer and Ultimate Beneficiary Due Diligence Process: Identify the client in each operation, whether natural person, legal person, or legal entity, requesting the information and documentation determined according to whether the general or enhanced regime must be applied. To this end, it must develop policies and procedures that allow compliance with this requirement, applying the stages of customer knowledge due diligence referred to in Article 15 of the Standard for the Prevention of Money Laundering and Terrorist Financing Applicable to Subjects Under UIF-Peru Supervision approved by Resolution SBS No. 789-2018 and its modifications, and must gather the minimum information, in accordance with what is established in Article 16 of the cited standard.

Likewise, they must identify the ultimate beneficiary and take reasonable measures to verify their identity, to the extent that due diligence allows, so as to be convinced that they know who the ultimate beneficiary is. For this effect, they use the Sworn Declaration format published on the SBS website.

Ultimate beneficiary is any natural person included within the scope of Article 3, paragraph 3.1, subsection a) of Legislative Decree No. 1372, Legislative Decree that regulates the obligation of legal entities and/or legal entities to report the identification of Ultimate Beneficiaries, and its modifications. The expression “who possesses or exercises final effective control” refers to situations where ownership and/or control are exercised through a chain of ownership or through any other means of control, which is not direct control.

3. Customer Due Diligence Regimes: The obligated subject referred to in this article applies the following due diligence regimes:

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000

3.1 General Regime: The obligated subject must request the following minimum information from its client:

a) In the case of natural persons: 1) First and last names. 2) Type and number of identity document. 3) Nationality, in the case of a foreigner. 4) Address. 5) Occupation. 6) Phone number and email, if applicable. 7) Purpose of the relationship to be established with the obligated subject, provided this does not stem directly from the object of the contract. 8) Indicate if they are or have been a PEP, specifying, if applicable, the position and the name of the institution (public body or international organization). In this case, the rules of the enhanced regime must be applied. If a PEP, it must refer to: i) their relatives up to the second degree of consanguinity and second degree of affinity, ii) spouse or cohabitant of a PEP. 9) Indicate if they are a relative of a PEP up to the second degree of consanguinity and second degree of affinity; spouse or cohabitant of a PEP, specifying the first and last names of the PEP. 10) The identity of the beneficiary of the operation.

b) In the case of legal persons: 1) Trade name or corporate name. 2) Unique Taxpayer Registry Number (RUC) or equivalent registry for non-residents. 3) Corporate purpose, main economic activity, or purpose of constitution of the legal person, as applicable. 4) Identification of the ultimate beneficiary in accordance with Article 4 of Legislative Decree No. 1372 and its modifications, as applicable. 5) Purpose of the relationship to be established with the obligated subject, provided this does not stem directly from the object of the contract. 6) Identification of the representative, for which they must include the data referred to in subsections 1) and 2) of subsection a) of paragraph 3.1 of this article. Specify if they have representation by power of attorney or mandate, indicating the data of the public notarial instrument and Registry Part Number, section, entry, and Registry Zone of SUNARP. 7) Address and phone number of the main office or premises, where the activities inherent to the business are carried out. 8) Origin of the funds/assets involved in the operation, when this is carried out in cash.

3.2 Enhanced Regime: The obligated subject referred to in this article must develop and implement additional procedures to those of the general regime, for clients who demonstrate a pattern of higher ML/TF risk. This regime is applied obligatorily to clients: 1) Nationals or foreigners, non-residents. 2) Non-domiciled legal persons. 3) PEPs and identified as: i) relatives of PEPs up to the second degree of consanguinity and second degree of affinity, ii) spouse or cohabitant of a PEP; and, iii) legal persons or legal entities where a PEP maintains a participation of 10% or more of its share capital, contribution, or participation. It is applicable with respect to the client when they become a PEP, after commercial relations have been initiated. 4) Natural persons, legal persons, or legal entities regarding which there is knowledge that they are being investigated for the crime of money laundering, predicate offenses, and/or terrorist financing by competent authorities.

Regarding PEPs, the names of their relatives up to the second degree of consanguinity and second degree of affinity and of the spouse or cohabitant must be requested, as well as the list of legal persons or legal entities where they maintain a participation of 10% or more of their share capital, contribution, or participation. Likewise, it increases the frequency in the review of the client's transactional activity; and, conducts inquiries and applies additional identification and verification measures, such as: obtaining information about main suppliers and clients, collecting information from public or open sources, conducting visits to the address.

3.3 When the obligated subject is not in a position to comply with the customer due diligence measures, it must proceed as follows: i) not initiate commercial relations, not carry out the operation, and/or terminate the initiated commercial relationship; and, ii) evaluate the possibility of making a Suspicious Operations Report (SOR) with respect to the client.

In case the obligated subject has suspicions of ML/TF activities and considers that carrying out due diligence actions would alert the client, it must report the suspicious operation to UIF-Peru without carrying out said actions. These cases must be substantiated and documented.

4. It is not required to apply due diligence procedures regarding suppliers, nor are the provisions on the use of third parties or intermediaries, training, internal and external audits if applicable, applicable to it, nor are they obliged to maintain and preserve a manual and a code.

5. For the purposes of the Operations Register (OR), it complies with what is provided for in Article 24 of the Regulation. Likewise, it must register all of the following individual operations, regardless of the amount of the operation: 1) Sale and purchase of real estate, regardless of whether its client is the buyer or seller of the asset; 2) Administration of money, securities, financial system accounts, or other assets; 3) Organization of contributions for the creation, operation, or administration of legal entities; 4) Creation, administration, and/or reorganization of legal entities or other legal structures; 5) Sale and purchase of shares or social participations of legal entities, regardless of whether its client is the buyer or seller of the asset. The information provided to UIF-Peru through the OR is that which is not subject to professional secrecy.

Regarding operations 1) and 5), the amount of the operation is considered the total price of the sale and purchase, regardless of the form of payment thereof, and the respective partial payments on the asset are also subject to the OR. For the case of operations 2), 3), and 4), it will be the total amount subject to the operation. Regarding operations involving: i) partial payments; ii) addendum (Additional Clause) to the respective contract that was subject to the OR and entails that the total amount of the contract is modified; and/or iii) cancellation (Rescission or resolution) of the respective contract whenever it affects an operation that has been subject to the OR; UIF-Peru will establish the structure, format, and electronic medium or other mechanism for sending them.

6. For the purposes of the Suspicious Operations Report (SOR), it complies with what is provided for in Article 25 of the Regulation.

7. Prepare and send to UIF-Peru, through its compliance officer, by February 15 of each year, an annual report on the situation of the SPLAFT and its compliance, implemented in the previous calendar year, called Annual Report of the Compliance Officer (ARCO), through the AML/CFT prevention portal (plaft.sbs.gob.pe) enabled by the SBS for such effect or another electronic medium determined by the SBS, in accordance with the content, structure, and instructions established by the same medium.

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000

8. Attend to the information requests made by the UIF-Peru referred to in Article 3, paragraphs 1, 11, and 12 of Law No. 27693, through the Information Request System, within the express deadline indicated in the respective information request. The response to the information requests referred to in this article is subject to the structure, content, and instructions given by the UIF-Peru, in accordance with what is established in the manuals, tutorials, or other documents published on the Portal for the Prevention of Money Laundering and Terrorist Financing - PLAFT Portal (https://plaft.sbs.gob.pe/) or communicated through another electronic means determined by the SBS.

9. Duty of Confidentiality and Exemption from Liability: The obligated subject complies with what is provided in Article 31 of the regulation.”

Third Article.- Obligated subjects within the scope of the Standard for the prevention of money laundering and terrorist financing applicable to obligated subjects under the supervision of the UIF-Peru, in matters of prevention of money laundering and terrorist financing approved by SBS Resolution No. 789-2018, as well as those referred to in Article 4 of the aforementioned resolution, have a period not exceeding ninety (90) days counted from the entry into force of this Resolution, for the implementation of what is provided in this Resolution.

Fourth Article.- Modify Procedure No. 142 “Request to have a Corporate Compliance Officer for the case of obligated subjects included in the Standard for the Prevention of Money Laundering and Terrorist Financing, applicable to obligated subjects under the supervision of the UIF-Peru in matters of prevention of money laundering and terrorist financing, approved by SBS Resolution No. 789-2018” and incorporate Procedure No. 213 whose denomination is “Request to have a corporate compliance officer exempting the exclusive dedication of their functions, for the case of obligated subjects included in the Standard for the prevention of money laundering and terrorist financing, applicable to obligated subjects under the supervision of the UIF-Peru in matters of prevention of money laundering and terrorist financing, approved by SBS Resolution No. 789-2018” in the Single Text of Administrative Procedures – TUPA of the Superintendence of Banks, Insurance, and Private Pension Fund Administrators, approved by Resolution No. 01581-2023, in accordance with the text attached to this resolution and published on the institutional Web Portal (www.sbs.gob.pe), in accordance with what is provided in the Regulation of Law No. 29091, approved by Supreme Decree No. 004-2008-PCM.

Fifth Article.- Incorporate articles 9-A, 16-A, and 16-B into the Regulation of Infractions and Sanctions in matters of prevention of Money Laundering and Terrorist Financing, approved by SBS Resolution No. 8930-2012, which shall be drafted in accordance with the following text:

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f. Voluntary remediation of the infraction: This exemption is configured when the infringing conduct or omission is expressly recognized in writing and fully remediated voluntarily, prior to the notification of the charges. Voluntary remediation is not considered when the conduct is remediated as a consequence of an order or mandate from the Superintendence, through the UIF-Peru, issued in the exercise of its regulatory and/or supervisory powers. This exemption only applies to minor and immaterial infractions that do not cause concrete and significant harm to the money laundering and terrorist financing prevention system. The immateriality of the committed infraction must be understood as that situation in which the facts have little significance. Voluntary remediation is not applicable as an exemption in the case of repeat infractions.

Article 16-B.- Materiality of conduct in minor infractions
The Superintendence may abstain from initiating the sanctioning procedure in cases of minor infractions, when it considers that the infraction does not have materiality by not generating a concrete and significant repercussion on the money laundering and terrorist financing prevention system.”

Sixth Article.- This resolution enters into force the day after its publication in the Official Gazette El Peruano.

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MARIA DEL SOCORRO HEYSEN ZEGARRA
Superintendent of Banks, Insurance, and AFP

“Article 9-A.- Rules for the determination of administrative liability In sanctioning procedures initiated by the Superintendence, through the UIF-Peru, the following rules apply:
a. For infractions classified as minor, administrative liability is subjective, and the intent or negligence in the infringing conduct must be analyzed. b. For infractions classified as serious and very serious, administrative liability is objective, for which the configuration of the conduct typified as an infraction must be considered, independent of intent or negligence.

Article 16-A.- Exemptions from liability
The following circumstances are considered exemptions from liability:
a. Error induced by the administration or by a confusing or illegal administrative provision. b. Force majeure or fortuitous event duly proven.
c. Acting in compliance with a legal duty or the legitimate exercise of the right of defense.
d. Mental incapacity duly proven by the competent authority, provided that this affects the ability to understand the infraction. e. Mandatory order from a competent authority, issued in the exercise of its functions.