Resolution SBS No. 2249-2013: Approves Standard for the Prevention of Money Laundering and Terrorist Financing Applicable to Customs Agents and Authorized Owners, Consignees or Shippers Operating as Customs Brokers

Los Laureles Nº 214 - Lima 27 - Peru Tel. : (511) 6309000 Fax: (511) 6309239 Lima, April 05, 2013

Resolution S.B.S.
No. 2249-2013

The Superintendent of Banks, Insurance and Private Pension Fund Administrators (acting)

CONSIDERING:

That, through Law No. 27693 and its modifying regulations, the Financial Intelligence Unit of Peru (UIF-Peru) was created, charged with receiving, analyzing, processing, evaluating, and transmitting information for the detection of money laundering and terrorist financing, for which purpose a list of obligated subjects to report was established, which involves implementing a system for the prevention of money laundering and terrorist financing, which includes -among other aspects- reporting on suspicious operations and designating a duly accredited compliance officer before the UIF-Peru;

That, through Law No. 29038, the incorporation of the UIF-Peru into the Superintendence of Banks, Insurance and Private Pension Fund Administrators (SBS) was ordered, as a specialized unit, so that the SBS, in addition to its own functions, has assumed the competencies, attributions, and functions that corresponded to said institution; disposing in its article 3rd that obligated subjects to report include, among others, customs agencies and brokers of import and export operations, whether natural or legal persons;

That, in accordance with what is provided in article 3rd of Law No. 27693, modified by the first complementary modifying provision of Legislative Decree No. 1106, Legislative Decree on Effective Fight against Money Laundering and other Crimes Related to Illegal Mining and Organized Crime, it is the function and faculty of the SBS, through the UIF-Peru, to regulate, in coordination with the supervisory bodies of the obligated subjects, the general and specific guidelines, requirements, clarifications, sanctions, and other aspects related to the prevention systems of the obligated subjects to report and of the reports of suspicious operations and operation records, as well as to issue models of codes of conduct, manual for the prevention of money laundering and terrorist financing, format of operation records, among others, in accordance with the scope of what is provided in the aforementioned law and its regulations;

That, article 9th-A of Law No. 27693, incorporated by the fifth complementary modifying provision of the aforementioned Legislative Decree No. 1106, provides that supervisory bodies in matters of prevention of money laundering and terrorist financing are considered those public or private organisms or institutions that according to their regulations or purposes exercise functions of supervision, inspection, control, registration, functional authorization or guilds regarding the obligated subjects to report, mentioning -among others- the National Superintendence of Customs and Tax Administration - SUNAT;

That, in accordance with article 5th of Law No. 29816, Law on Strengthening of the SUNAT, this has as its function -among others- the implementation, inspection and

Los Laureles Nº 214 - Lima 27 - Peru Tel. : (511) 6309000 Fax: (511) 6309239 2/21 control of customs policy in the national territory, administering, applying, inspecting, sanctioning and collecting the taxes and tariffs of the Central Government that customs legislation establishes, ensuring the correct application of international treaties and conventions and other norms that govern the matter and other taxes whose collection is entrusted to it, as well as facilitating foreign trade customs activities, inspecting international traffic of persons and means of transport and developing the necessary actions to prevent and repress the commission of customs crimes and illicit trafficking of goods;

That, in this context, it is necessary to approve the norms for the prevention of money laundering and terrorist financing applicable to customs agents and owners, consignees or shippers authorized to operate as customs brokers, supervised in matters of prevention of money laundering and terrorist financing by the National Superintendence of Customs and Tax Administration – SUNAT, which allows them to comply with the obligations established in Law No. 27693, its modifying regulations and regulatory, and; having complied with the dissemination period of the draft legal norms of a general nature referred to in article 14th of the Regulation that establishes provisions relative to the publicity, publication of normative projects and dissemination of legal norms of a general nature, approved by Supreme Decree No. 001-2009-JUS;

Having the approval of the Financial Intelligence Unit of Peru and the Adjunct Superintendence of Legal Advice and, in coordination with the National Superintendence of Customs and Tax Administration – SUNAT;

In exercise of the attributions conferred by Law No. 29038 and the General Law of the Financial System and of the Insurance System and Organic of the Superintendence of Banks and Insurance, Law No. 26702 and its modifying regulations, in concordance with Law No. 27693 and its modifying regulations and Resolution SBS No. 2024-2013;

RESOLVES:

Article First.- Approve the Standard for the Prevention of Money Laundering and Terrorist Financing applicable to Customs Agents and Owners, Consignees or Shippers Authorized to Operate as Customs Brokers, which is transcribed below:

“STANDARD FOR THE PREVENTION OF MONEY LAUNDERING AND TERRORIST FINANCING APPLICABLE TO CUSTOMS AGENTS AND OWNERS, CONSIGNEES OR SHIPPERS AUTHORIZED TO OPERATE AS CUSTOMS BROKERS”

TITLE I
GENERAL PROVISIONS

Article 1st.- Scope
This standard is applicable to customs agents and owners, consignees or shippers authorized to operate as customs brokers, under the supervision of the National Superintendence of Customs and Tax Administration – SUNAT.

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Article 2nd.- Definitions and abbreviations
The obligated subject must consider the following definitions for the application of this standard:

a) Customs agents: natural or legal persons authorized by SUNAT to provide services to third parties, in all kinds of customs procedures, under the conditions and with the requirements established by the General Customs Law and its Regulation.

b) Beneficial owner: natural person in whose name a transaction is carried out and/or who possesses or exercises final effective control over a client, legal person or any other type of legal structure.

c) Good judgment: discernment or judgment that the obligated subject forms from, at least, the knowledge of the client and the market; it encompasses the experience, training and diligence of the obligated subject and its workers, in the prevention of ML/TF.

d) Brokers of import and export operations: persons considered as customs brokers according to the General Customs Law, such as customs agents and owners, consignees or shippers authorized to operate as such, with the exception of official brokers.

e) Days: calendar days.

f) Owners, consignees or shippers authorized to operate as customs brokers: legal persons authorized by SUNAT, to operate as customs brokers of their goods or consigned to their name, provided for in the General Customs Law.

g) Terrorist financing: crime typified in article 4th-A of Decree Law No. 25475 and its modifying regulations.

h) Economic group: set of two or more legal persons, national or foreign, in which one of them exercises control over the others, or when control over the legal persons corresponds to one or more natural persons who act as a decision unit, in accordance with what is provided by the Special Norms on Linkage and Economic Group, approved by Resolution SBS No. 445-2000 and its modifying regulations.

i) Chemical inputs and supervised products: acetone, ethyl acetate, sulfuric acid, hydrochloric acid and/or muriatic; nitric acid, ammonia, acetic anhydride, benzene, sodium carbonate, potassium carbonate, ammonium chloride, ethyl ether, hexane, calcium hydroxide, sodium hypochlorite, kerosene, methyl ethyl ketone, potassium permanganate, sodium sulfate, toluene, methyl isobutyl ketone, xylene, calcium oxide, piperonal, safrole, isosafrole, anthranilic acid, and others provided for in the Law on Control of Chemical Inputs and Supervised Products, approved by Law No. 28305 and its modifying regulations.

j) Chemical inputs that can be used in illegal mining: mercury, potassium cyanide, sodium cyanide and hydrocarbons and others provided for in the Legislative Decree that Establishes Control and Supervision Measures in the Distribution, Transport and Commercialization of Chemical Inputs that Can Be Used in Illegal Mining, approved by Legislative Decree No. 1103 and its modifying regulations.

k) ML/TF: money laundering and terrorist financing.

l) Money laundering: crime typified in Legislative Decree No. 1106, Legislative Decree on Effective Fight against Money Laundering and other Crimes Related to Illegal Mining and Organized Crime, and its modifying regulations.

m) Law: Law that Creates the Financial Intelligence Unit of Peru, UIF-Peru, Law No. 27693 and its modifying regulations.

n) General Customs Law: Legislative Decree that Approves the General Customs Law, Legislative Decree No. 1053 and its modifying regulations.

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o) OFAC List: list issued by the Office of Foreign Assets Control of the US Department of the Treasury (OFAC), in which countries, persons and/or entities that collaborate with terrorism and illicit drug trafficking are included.

p) Manual: manual for the prevention of ML/TF.

q) Merchandise: good susceptible to being classified in the tariff nomenclature and that can be subject to customs regimes.

r) Unusual operations: operations whose amount, characteristics and periodicity do not relate to the economic activity of the client, fall outside the parameters of normality current in the market or have no evident legal basis.

s) Suspicious operations: operations of handling of assets or liabilities or other resources, whose amount or characteristics do not relate to the economic activity of their clients, or on transactions of their users that by their number, by the amounts transacted or by the particular characteristics of these, can reasonably lead to suspect that the obligated subject is being used to transfer, handle, take advantage of or invest resources coming from criminal activities or destined to their financing.

t) Supervisory body: National Superintendence of Customs and Tax Administration – SUNAT.

u) Politically Exposed Persons (PEP): natural persons, national or foreign, who in the last two (2) years fulfill or have fulfilled prominent public functions or prominent functions in an international organization, whether in the national or foreign territory, and whose financial circumstances may be subject to public interest.

v) Regulation: Regulation of the Law that Creates the UIF-Peru, approved by Supreme Decree No. 018-2006-JUS.

w) ROSEL: Online Suspicious Operations Reporting System is a technological tool developed by the SBS to allow, in accordance with current regulations, obligated subjects to send to the UIF-Peru the report of suspicious operations (ROS) by electronic means, under standards that ensure that the information is transmitted with an adequate level of security.

x) SBS: Superintendence of Banks, Insurance and Private Pension Fund Administrators.

y) Obligated subject: natural or legal person who has the obligation to implement a system of policies and procedures to prevent ML/TF, including the submission of information regarding suspicious operations, detected during the course of its activities, among others. For the purposes of this standard, customs agents and owners, consignees or shippers authorized by SUNAT to operate as customs brokers are considered.

z) Worker: natural person who maintains a labor or contractual link with the obligated subject. Includes the legal representative and dispatch assistant, accredited before SUNAT.

aa) UIF-Peru: Financial Intelligence Unit of Peru; specialized unit of the SBS.

Article 3rd.- Scope and purpose of the ML/TF prevention system
The ML/TF prevention system aims to allow obligated subjects to manage their ML/TF risks, through the identification, evaluation, control, mitigation and monitoring of those risks to which they are exposed. Risk management will include, among other procedures and controls detailed in this standard, those related to the timely detection and reporting of suspicious operations.

The ML/TF prevention system must be applied by the obligated subject, the compliance officer, managers, administrators, executives, shareholders, partners or associates, in case of legal persons, its workers and in general, by all its administrative and operational organization, according to the functions that correspond to them, having in mind the code of conduct for the prevention of ML/TF and the manual that for said effect approves, in accordance with this standard and other provisions on the matter.

The ML/TF prevention system is composed of the policies, controls and procedures that obligated subjects establish for the purpose of allowing them to identify, evaluate, control, mitigate and monitor their ML/TF risks. For this, they must develop a methodology for the identification and evaluation of risks in accordance with the nature and dimension of their commercial activity, which takes into account at least, among others, the following factors:

• Type of clients
• Products and services
• Distribution channels; and,
• Geographical location.

The results of the implementation of the risk identification and evaluation methodology, considering all relevant factors to determine the general risk level and the appropriate level of mitigation to apply, must be recorded in a technical report, together with the documentation and information that supports it, which will be available to the UIF-Peru and the supervisory body, when required. Both the methodology and the risk evaluation must be updated.

When high risks are identified in the risk evaluation, the obligated subject must adopt intensified measures to manage and mitigate them; in other cases, it may differentiate the scope of management and mitigation measures, depending on the risk level resulting from the evaluation of the different factors, being able to adopt simplified measures when low risks are identified for their management and mitigation.

Article 4th.- Procedure and confidentiality of communications to the UIF-Peru
All reports, records, reports and other communications that, according to the Law, its regulation and this standard, the obligated subject must send through its compliance officer to the UIF-Peru, will be identified only with the code or secret key assigned to this and to the obligated subject by the SBS, adopting measures that allow the reservation of the information and its senders.

The obligated subject must attend, within the deadline requested, the information requests or expansion of information that the SBS makes through the UIF-Peru or another competent authority, in accordance with current regulations.

The obligated subject, through its compliance officer, will send to the UIF-Peru the reports, operation records (OR) and reports of suspicious operations (ROS), through the electronic means established by the SBS. The communications referred to in this standard have a confidential character, all those involved being impeded from informing any person that such information has been requested or provided to the UIF-Peru, under the corresponding administrative, civil and criminal responsibilities.

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Article 5th.- Annual training
The obligated subject, its workers and directors, if applicable, including the compliance officer, must receive at least one training per year in matters of prevention and/or detection of ML/TF, with the purpose of being instructed in the current regulations on the matter, the policies and procedures established for the fulfillment of their functions as part of the ML/TF prevention system, the typologies of ML/TF, in particular, those that could be detected in the activities proper to the obligated subject, the alert signals to detect unusual operations, methodologies for identification, evaluation, control, mitigation and monitoring of risks associated with ML/TF, among other aspects that the compliance officer considers relevant.

The trainings may be taught by third parties, specialized entities or by the compliance officer, by the physical or electronic means or modality they consider convenient. The training certificates must be incorporated into the personnel files of the participants.

In case the training has been carried out by the compliance officer, he will issue a certificate with the character of a sworn declaration in which he indicates the day, place, duration time, names and surnames and positions -if applicable- of the people who were trained and the syllabus.

New workers must be informed by the compliance officer about the scope of the ML/TF prevention system of the obligated subject, within thirty (30) days following their date of entry, which must be recorded in their personnel file.

The compliance officer is responsible for communicating to the obligated subject and all workers and directors, if applicable, the changes made in the regulation of the ML/TF prevention system.

TITLE II
MONEY LAUNDERING AND TERRORIST FINANCING PREVENTION SYSTEM

Chapter I
Knowledge of the client and the worker

Article 6th.- Client
Client is any natural or legal person, national or foreign, habitual or occasional, who requests and receives from the obligated subject the provision of some service or the supply of any good proper to the activity that develops. The Law, the regulation and this standard are applicable to all clients of the obligated subject.

The orderer (owner/holder of the good or right) and/or beneficiary of the operations (acquirer or receiver of the good or right), if applicable, will be considered as the client. The shipper must consider the consignee as a client; and in turn, the consignee must consider the owner as a client.

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A habitual client is one who requests or obtains a good or service from the obligated subject, frequently, regardless of the amount involved in the operation. An occasional client is one who requests or obtains the good or service, sporadically.

Article 7th.- Knowledge of the client, due diligence and knowledge of the market

7.1. Knowledge of the client implies that, with respect to each operation, it is identified by the obligated subject, adequately and reliably, whether it is a habitual or occasional client, whether natural or legal person.

7.2. In this sense, the obligated subject will request from the client the presentation of documents, with the purpose of obtaining the information indicated in paragraphs 7.2.1 and 7.2.2, which are indicated below; and, as appropriate, verify it through the consultation in the SUNAT database and the National Registry of Identification and Civil Status – RENIEC, in the case of Peruvian citizens, and through the consultation in the SUNAT database, for the case of legal persons constituted in the country. For this purpose, at the start of the operation, the client must fill out and deliver to the obligated subject, the form referred to in Annex No. 5 “Client Knowledge Sworn Declaration Form”, which will be available to the UIF-Peru and the supervisory body, and which has the character of a sworn declaration and contains the following minimum information:

7.2.1. In the case of natural persons:

a) First and last names.

b) Type and number of identity document.

c) Number of Unique Taxpayer Registry (RUC), if applicable.

d) Place and date of birth.

e) Nationality.

f) Declared address (place of residence).

g) Fiscal address, if applicable.

h) Telephone number (landline and mobile) and email, if applicable.

i) Profession or occupation.

j) Marital status, including the name of the spouse in case the client declares to be married. In case the client declares to have a partner, record their name.

k) Public position or function performed or that has been performed in the last two (2) years, in Peru or abroad, indicating the name of the public organism or international organization.

l) The origin of the funds, goods or other assets involved in said transaction.

m) Indicate if it is an obligated subject to report to the UIF-Peru and if it has or does not have a compliance officer registered before the SBS. This information will be available to the SBS.

n) Identification of the third party, whether natural person (first and last names) or legal person (trade or corporate name), through whose intermediary the operation is carried out, if applicable.

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7.2.2. In the case of legal entities:
a) Name or corporate name. b) Unique Taxpayer Registry (RUC), if applicable. c) Corporate purpose and main economic activity (commercial, industrial, construction, transport, etc.). d) Identification of shareholders, partners, or members who hold a percentage equal to or greater than 5% of the shares or participations of the legal entity. e) Identification of the legal representative or of the person appearing with powers of representation and/or disposal of the legal entity, considering the information required for natural persons, insofar as applicable. Likewise, verify the granting of the corresponding powers. f) Domicile. g) Fiscal domicile. h) Fixed telephones of the office and/or of the contact person, whether it be the main premises, agency, branch, or other locations where they carry out activities inherent to their business. i) The origin of the funds, goods, or other assets involved in said transaction. j) Indicate whether it is a subject obliged to report to the UIF-Peru and whether it has or does not have a compliance officer registered with the SBS. This information will be available to the SBS. k) Identification of the third party, whether a natural person (first and last names) or a legal entity (corporate or trade name), through whom the operation is carried out, if applicable. The obliged subject must also use the additional electronic means established by the supervisory body for the verification of identity.

7.3. The obliged subject will identify the beneficial owner and adopt reasonable measures to verify their identity, so as to be convinced that they know who the beneficial owner is. In the case of legal entities, the natural persons who, ultimately, hold control through ownership will be determined; failing that, the person who exercises control of the legal entity by other means; and only when in said cases no natural person is identified, the natural person who performs management and/or executive functions will be considered.

7.4. The obliged subject, based on the information obtained through its policies and procedures for the adequate knowledge of its clients, must identify those to whom it must apply a reinforced due diligence regime in the client knowledge procedure, within which it must consider: non-domiciled natural and legal persons; legal entities whose shareholders, partners, or members are foreign natural or legal persons and hold a majority percentage in the share capital, contribution, or participation; complex operations; politically exposed persons (PEP); chemical inputs and supervised products and chemical inputs that can be used in illegal mining; exports; clients regarding whom there is public and notorious knowledge that they are being investigated for money laundering, predicate offenses, terrorism, or its financing; higher risk of ML/TF identified through own analysis; or others determined by the obliged subject, the supervisory body, or the UIF-Peru. The additional measures to be applied in these cases must be proportional to the identified risks.

7.5. Due diligence in client knowledge consists of the stages of identification, verification, and monitoring. The partial or total execution of each of these stages is based on the risks detected. The identification stage allows obtaining the main information to establish the identity of a client and beneficial owner, if applicable; the verification process consists of ensuring that its clients were duly identified, leaving documentary evidence thereof; and monitoring aims to ensure that the operations executed by its clients are compatible with what is established in the client profile.

7.6. The obliged subject must have policies and procedures that allow it to carry out adequate monitoring of its clients' operations, considering their respective profiles. Such policies and procedures must incorporate the development of client profiles according to their risk level, which will entail classifying the risk of each client. In the development of the client profile, the following variables must be considered, among others:
a) Type of client (natural person/legal person or other legal structure, nationality, place of residence); b) Economic activity of the client/occupation; c) Amount and source of their income; and, d) Characteristics and amounts of operations (currency, instrument, market, country or geographic area of origin of the funds, among others).
This information must be duly documented and form part of the individual file of each client.

7.7. The obliged subject will maintain responsibility for the client knowledge due diligence process, even when this has been entrusted to a third party, linked or not, and must obtain evidence that the third party has taken the necessary measures to comply with client knowledge due diligence.

7.8. Market knowledge that the obliged subject must apply complements client knowledge.

Article 8th.- Worker Knowledge

8.1. Worker knowledge implies that the obliged subject must ensure that its workers have a high level of integrity.
The personal file of each worker that the obliged subject must keep will contain at least the following information:

1. Copy of the national identity document or, if applicable, the document legally established for the identification of foreigners.
2. Sworn declaration of personal, labor, and asset background.
3. Sworn declaration of having taken knowledge of and complying with the manual and code of conduct for the prevention of ML/TF.

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4. Copy of the records or certificates accrediting the training referred to in Article 5th of this standard.
5. Sanctions for non-compliance with internal norms for the prevention of ML/TF, imposed by the obliged subject, if applicable.
6. Others determined by the obliged subject or the SBS.
   The file of each worker must be kept updated and will be available to its supervisory body during supervision visits of the ML/TF prevention system, as well as to the SBS, when requested through the UIF-Peru. It is the obligation of each worker to communicate to the obliged subject any change regarding this, in writing, within a maximum period not exceeding fifteen (15) days from the occurrence of the change. The obliged subject will establish internal sanction mechanisms for non-compliance, transgression, or omission of these norms, as well as of the manual or code of conduct for the prevention of ML/TF.

Chapter II
Operation Registration

Article 9th.- Operation Registration (OR)

9.1 The obliged subject must keep and maintain an updated OR in which it will register the individual or multiple operations that its clients carry out or have attempted to carry out.
The mere inclusion of an operation in the OR does not necessarily imply that the client has carried out an unusual or suspicious operation.

9.2 Thresholds for the OR

9.2.1 The obliged subject must register the individual operations carried out or attempted by its clients, for amounts equal to or greater than US$ 10,000.00 (ten thousand and 00/100 US dollars) or its equivalent in national currency or other currencies, if applicable. Likewise, they will register multiple operations, understood as individual operations that, collectively, equal or exceed US$ 50,000.00 (fifty thousand and 00/100 US dollars) or its equivalent in national currency or other currencies, if applicable; when carried out by or for the benefit of the same person, during a calendar month, in which case they will be considered as a single operation.

9.2.2 The exchange rate applicable to fix the equivalent in national currency will be the selling exchange rate published by the SBS, corresponding to the day on which the operation was carried out.

9.2.3 Without prejudice to the aforementioned thresholds, the obliged subject may establish lower thresholds internally for the OR, which may be fixed based on the risk analysis of the operations it carries out, the economic sector, the client profile, or any other criterion determined, in accordance with what is established in Article 3rd of this standard.

9.3 Content of the OR

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9.3.1 The OR must contain, for each operation, the information provided in Annex No. 2 "Operation Registration".

9.3.2 The OR will be kept using computer systems.

9.4 Operations subject to the OR
The operations subject to the OR, according to the activities of the obliged subject are:
a) Definitive import. b) Reimportation in the same state. c) Definitive export. d) Temporary export for reimportation in the same state. e) Temporary export for passive perfection. f) Temporary admission for active perfection. g) Temporary admission for reexportation in the same state. h) Restitution of duties – Drawback. i) Replacement of goods with tariff franchise. j) Customs deposit. k) Re-shipping. l) Customs transit. m) Other foreign trade operation. n) Others determined by the SBS.

9.5 Regarding the natural and legal persons intervening in the operation, the identification of the person carrying out the operation (executor, specifying, if applicable, if acting as legal representative, attorney, or agent) must be registered, as well as the person in whose name the operation is carried out (ordering party or owner), and the person in whose favor the operation is carried out (beneficiary or acquirer). Likewise, if applicable, the identification of the third party, whether natural or legal person, through whom the operation is carried out must be registered.

Article 10th.- Conservation and availability of the OR

10.1. The obliged subject must register the operations on the day they occurred. The OR will be kept in a chronological, precise, and complete manner.

10.2. The OR will be kept for a period of five (5) years, counted from the date of numbering of the customs declaration of goods (DAM), using, for this purpose, computer, microfilming, or similar means that are easy to recover. There must be a backup copy of the OR, which will be available to the UIF-Peru and the Public Ministry within the timeframes established by Law, and has the character of confidentiality according to Article 12th of the Law.

10.3. Likewise, the obliged subject must keep, for a period of five (5) years, the documentation and information obtained in the application of due diligence in client knowledge.

10.4. The obliged subject will send the OR to the SBS, within fifteen (15) days following the close of each month, in the electronic medium and form that it establishes.

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Article 11th.- Non-exclusion from the OR
The obliged subject cannot exclude any client from the OR, regardless of the habitual nature and knowledge of this.

Chapter III
Report of Suspicious Operations and its Communication

Article 12th.- Report of Suspicious Operations (RSO)

12.1 The obliged subject has the obligation to communicate to the UIF-Peru, through its compliance officer, the operations carried out or that have been attempted to be carried out, which are considered suspicious, regardless of the amounts involved, in accordance with what is provided in the Law, the regulation, and this standard. The communication must be immediate and sufficient, that is, within a period that –according to the nature and complexity of the suspicious operation– allows for the elaboration, documentation, and transmission of the RSO to the UIF-Peru, which in no case must exceed fifteen (15) business days from detection.

12.2 The compliance officer, on behalf of the obliged subject, will qualify the operation as suspicious and proceed with its communication to the UIF-Peru, and must leave documentary evidence of the analysis and evaluations carried out, for the qualification of an operation as unusual or suspicious, as well as the reason why an unusual operation was not qualified as suspicious and reported to the UIF-Peru, if applicable. The operations qualified as unusual and the documentary support of the analysis and evaluations will be kept for a period of five (5) years, according to the design provided in Annex No. 6 "Design for identification of unusual operations".

12.3 The obliged subject will send the RSO and attached or complementary documentation to the UIF-Peru through the ROSEL system, using the ROSEL template published on the portal for the prevention of money laundering and terrorist financing enabled by the SBS for this effect. In no case, the identity of the compliance officer nor of the obliged subject, nor any other element that could contribute to identifying them, must be recorded in the RSO, except for the secret codes or keys assigned by the UIF-Peru.

12.4 The compliance officer is responsible for the correct use of the ROSEL system and all the information contained in the respective template and its annexes, adopting the necessary measures to ensure the accuracy and truthfulness of the information, its reservation, and confidentiality.

12.5 Annex No. 1 "Alert Signals" contains a list of signals that each obliged subject must take into account for the purpose of detecting unusual or suspicious operations. The foregoing does not exempt the obliged subject from communicating other operations it considers suspicious, according to its ML/TF prevention system and with the alert signals identified by the obliged subject itself, related to the activities it carries out. Without prejudice to this, the UIF-Peru may provide the obliged subject with additional information or criteria that contribute to the detection of unusual or suspicious operations. The mere existence of elements configuring alert signals does not generate the obligation to formulate the RSO.

12.6 The communication of suspicious operations to the UIF-Peru, by the obliged subject, through the compliance officer, has a confidential and reserved character. For all legal effects, the RSO does not constitute a criminal complaint.

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Chapter IV
Manual and Code of Conduct for the Prevention of ML/TF

Article 13th.- Manual for the Prevention of ML/TF

13.1 The ML/TF prevention system must be embodied in the manual elaborated by the obliged subject, with a risk-based approach, which will contain the policies, controls, and procedures established by the obliged subject in accordance with the results of the risk assessment, according to Article 3rd of this standard. The obliged subject may take as reference Annex No. 3 "Model of manual for the prevention of money laundering and terrorist financing", in which the minimum information that it must contain is recorded.

13.2 The manual must be approved by the board of directors or equivalent body of the legal entity or, failing that, by the general manager, manager, owner-manager, or administrator as applicable, provided that the legal entity is not obliged to have a board of directors according to its statutes. In the case of a natural person, the approval of the manual belongs to the latter as the holder of the activity.

13.3 The manual must be permanently updated, incorporating in addition to the alert signals of Annex No. 1 of this standard, those identified by the obliged subject or its compliance officer in the development of its activity. It corresponds to the obliged subject to incorporate into the manual the criteria to be adopted regarding amounts, time periods, among other discretionary aspects, regarding the alert signals.

13.4 The manual must be known to the workers of the obliged subject, including this in the case of a natural person, and to its shareholders, partners, members, directors, managers, administrators, attorneys, in case the obliged subject is a legal entity, and must be available to the supervisory body and to the SBS, when requested through the UIF-Peru.

Article 14th.- Code of Conduct for the Prevention of ML/TF

14.1 The obliged subject must approve and put into practice a code of conduct for the prevention of ML/TF, intended to ensure the adequate functioning of the ML/TF prevention system, and will contain, among other aspects, the guiding principles, values, and policies that must be applied to administer the risk of exposure to ML/TF.

14.2 The code of conduct for the prevention of ML/TF must highlight the mandatory character of the procedures that integrate the ML/TF prevention system in accordance with the current regulations on the matter and specifying, if applicable, those particular details to which the obliged subject and its workers must adhere.

14.3 The code of conduct for the prevention of ML/TF must be approved by the board of directors or equivalent body of the legal entity or, failing that, by the general manager, manager, owner-manager, or administrator as applicable, provided that the legal entity is not obliged to have a board of directors according to its statutes. In the case of a natural person, the approval of the code of conduct for the prevention of ML/TF belongs to it as the holder of the activity.

14.4 The code of conduct for the prevention of ML/TF must be known to the workers of the obliged subject, the compliance officer, and its shareholders, partners, members, directors, attorneys, or legal representatives, if applicable. It will be

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available to the supervisory body and to the SBS, through the UIF–Peru, when so required.

14.5 The obliged subject may take into account the "Model of code of conduct for the prevention of money laundering and terrorist financing" and the "Sworn declaration of receipt and knowledge of the code of conduct for the prevention of money laundering and terrorist financing", referred to in Annexes No. 4 and 4-A of this standard.

Chapter V
Supervision of the ML/TF Prevention System

Article 15th.- Supervision of the Subject Obliged to Report

It corresponds to the supervisory body to ensure compliance with this standard and other provisions on the prevention and detection of ML/TF, using not only its own supervision mechanisms but also it may count on the support of the compliance officer and, if applicable, of internal auditors and external audit firms, provided that the obliged subjects have them; in coordination with the UIF-Peru. The supervisory body will carry out supervision visits in the matter of ML/TF prevention, according to the planning it determines.

Article 16th.- Compliance Officer

16.1 The compliance officer is the natural person responsible for monitoring the adequate implementation and functioning of the ML/TF prevention system. It is the contact person of the obliged subject with the UIF-Peru and an agent in which the supervisory body relies in the exercise of the control and supervision labor of the ML/TF prevention system. The obliged subject may be its own compliance officer, only when this is a natural person.

16.2 The designation of the compliance officer belongs to the obliged subject when it is a natural person. When the obliged subject is a legal entity, the designation of the compliance officer must be carried out by the board of directors or equivalent body; it will be carried out by the general manager, manager, owner-manager, or administrator provided that the legal entity, according to its statutes, is not obliged to have a board of directors. The designation of the compliance officer does not exempt the obliged subject or its workers from the obligation to apply the policies and procedures of the ML/TF prevention system.

16.3 When the compliance officer is a person different from the obliged subject, it is required that the former be of absolute trust of the obliged subject, have a direct labor or contractual link with it, and enjoy autonomy and independence in the exercise of the responsibilities and functions assigned to it for this effect by the Law, the regulation, and this standard.

16.4 The compliance officer may be part-time, it being sufficient for the obliged subject to expressly communicate this to the supervisory body and to the UIF-Peru. However, the supervisory body or the UIF-Peru may determine the particular cases in which the compliance officer must be full-time, taking into consideration, among other aspects, the characteristics of the operations it carries out, the level of ML/TF risk, the level of operational risks, which includes the average volume of transactions or operations, number of staff, geographic location and/or number of branches, the level of administrative risks, which includes the capital structure and/or equity and/or the level of legal risks, among other aspects, requiring for this the necessary complementary information.

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16.5 To properly protect their identity, the designation of the compliance officer must not be registered in the records that make up the National System of Public Registries. When the compliance officer is appointed to a managerial, administrative, or directorial position, it will be necessary to register in the registry entry of the legal entity only the part pertinent to the appointment in the respective position.

Article 17th.- Requirements of the compliance officer

17.1 The compliance officer must meet, at least, the following requirements:
a) Have a minimum of one (1) year of work experience in the activities of the obligated subject and/or in AML/CFT prevention, or experience for an equal period as a compliance officer or as a worker in the area under the charge of a compliance officer in another sector. b) Not have been convicted of the commission of intentional crimes. c) Not have been dismissed from public office or dismissed from it for serious misconduct. d) Not have overdue debts for more than one hundred twenty (120) days in the financial system or in judicial collection, nor protested documents in the last five (5) years, not clarified to the satisfaction of the SBS. e) Not have been declared bankrupt. f) Not be or have been the internal auditor of the obligated subject, if applicable, during the six (6) months prior to their appointment. g) Not be subject to any of the impediments indicated in article 365th of Law No. 26702, excepting paragraph 2 of the aforementioned article. h) Others established by the SBS, in coordination with the supervisory body. The aforementioned requirements may be accredited with sworn statements.

17.2 Regarding the communication of the designation of the compliance officer

The designation of the compliance officer must be communicated by the obligated subject to the supervisory body and to the Deputy Superintendent of UIF-Peru, in a confidential and reserved manner, within a period not exceeding five (5) business days from the date of designation, attaching the documentation that proves compliance with the requirements indicated in the preceding paragraph and indicating at minimum the following information about the compliance officer:
a) First and last names. b) Type and number of identity document. c) Nationality. d) Address of the office, branch, or agency where they work. e) Contact data (telephones, facsimile, email, others). f) Indicate whether they will serve on an exclusive dedication basis or not. g) Date of entry and position held in the office of the obligated subject.

Changes in the aforementioned information must be communicated by the obligated subject to the supervisory body and to UIF-Peru, within a period not exceeding five (5) business days from the occurrence of the change.

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17.3 The person designated as compliance officer can only serve one obligated subject at a time, unless it is a corporate compliance officer.

17.4 UIF-Peru will assign secret codes, both to the obligated subject and to the compliance officer, after verifying the documentation and information referred to in this article.

17.5 The Compliance Officer who incurs any of the mentioned impediments may no longer act as such in the obligated subject, without prejudice to legal responsibilities.

17.6 The requirements to be designated as compliance officer, established in paragraph 17.1 of this article, must remain in force during the exercise of the position. If the compliance officer ceases to meet any of these requirements, they must communicate this in writing to the obligated subject within a maximum period of five (5) business days from the occurrence of the fact. In this case, the obligated subject must appoint a new compliance officer who meets the aforementioned requirements, within a maximum period of five (5) business days counted from the communication of the compliance officer and proceed to communicate such designation to UIF-Peru, as established in paragraph 17.2 of this article.

17.7 The removal from the position of compliance officer or corporate compliance officer must be supported by a report approved by the board of directors or the general manager or equivalent body of the obligated subject that is a legal entity, which justifies the reasons for such measure. The removal as well as the report supporting it must be communicated by the obligated subject to the supervisory body and to the Deputy Superintendent of UIF-Peru, within a period of five (5) business days from the adoption of the decision.

The removal of the compliance officer, in case the obligated subject is a natural person, must be communicated by the holder of the activity via letter addressed to the Deputy Superintendent of UIF-Peru or another means determined by the SBS, in which they expressly indicate the reasons justifying such measure, within a period of five (5) business days from the adoption of the decision.

17.8 The vacancy situation cannot last more than thirty (30) days, from the date it occurred.

17.9 In case of temporary absence of the compliance officer, the obligated subject through its general manager, manager, manager-owner, administrator, or similar position (if a legal entity) or by the obligated subject itself if a natural person, will communicate to the supervisory body and to the Deputy Superintendent of UIF-Peru the name of the person who will replace them, attaching the supporting documentation referred to in paragraphs 17.1 and 17.2 of this article and justifying the reasons for the measure. The temporary nature cannot last more than four (4) months.

17.10 The aforementioned communications, addressed to the supervisory body and to the SBS, through UIF-Peru, may be made via written document or another means determined by each entity.

Article 18th.- Corporate compliance officer

18.1 Obligated subjects that are part of the same economic group may appoint a single corporate compliance officer, for which they must have the express approval of each of the supervisory bodies as well as the Deputy Superintendent of UIF-Peru; the latter will issue the approval, if applicable, regarding the entire economic group and once the corresponding supervisory bodies have issued their pronouncements.

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18.2 The position of corporate compliance officer must be on an exclusive dedication basis, have a managerial level in one of the legal entities forming the economic group, and have the support of sufficient personnel. For this purpose, in addition to the personnel working directly with the corporate compliance officer, each of the obligated subjects that are part of the economic group, whether or not supervised by the supervisory body, must have at least one worker who coordinates directly with the corporate compliance officer on all matters related to the prevention of AML/CFT of said company, with the corporate compliance officer being responsible for the prevention system of each of them.

18.3 For the approval of the corporate compliance officer position, the obligated subjects forming an economic group must submit an authorization request to the head of the supervisory body and to the Deputy Superintendent of UIF-Peru. The authorization request must be signed by the representatives of each of the obligated subjects that form the economic group, including those not supervised by the supervisory body, and the following information must be attached:

1. The list of obligated subjects forming the economic group, including those not supervised by the supervisory body, indicating regarding each of them: RUC number, name of the legal representative, main activity, and name of the supervisory body, if applicable.

2. Technical report signed by the legal representative of each of the obligated subjects that form the economic group, including those not supervised by the supervisory body, which supports the viability of having a corporate compliance officer, based on the AML/CFT risks they face. In this report, it must be supported that it will not harm or endanger compliance with current regulations, the correct development and application of the prevention system of each obligated subject that integrates the economic group, whether or not supervised by the supervisory body, as well as exposing what measures will be implemented so that this does not happen.

The report will indicate the existing link between the obligated subjects forming the economic group, whether or not supervised by the supervisory body, and will include the following information for each of them:
a) Financial statements of the last two (2) fiscal years. b) Number of workers, suppliers, and annexed establishments. c) Number of regular and occasional clients. d) Service and distribution channels. e) Quantity of operations carried out in the previous two (2) years, including the medium and form of collection and/or payment. f) System through which they record operations. g) Others deemed pertinent by the supervisory body and/or UIF-Peru.

3. The list of workers who will be under the charge of the corporate compliance officer and of the persons in charge of coordinating directly with him on matters related to the AML/CFT prevention system and who work in each of the obligated subjects that are part of the economic group he represents, whether or not supervised by the supervisory body.

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4. The sworn statement specifying that the corporate compliance officer will be on an exclusive dedication basis, will have a managerial level in one of the legal entities forming the economic group, and will have the support of sufficient personnel.

18.4 The supervisory body, if applicable, will approve the request, regarding the obligated subjects under its supervision, based on the information indicated in paragraph 18.3, as well as the information available in its databases. The authorization issued by the supervisory body must be supported by a report that will contain at minimum the analysis of complexity and volume of operations, quality of the computer tools used by the obligated subjects forming the economic group, among others deemed pertinent by the supervisory body. The pronouncement of the supervisory body must be sent to UIF-Peru.

UIF-Peru will resolve based on the information indicated in paragraph 18.3, the pronouncements of the supervisory bodies and the reports supporting them, the reports issued by the competent areas of the SBS, as well as the information available in its database. The pronouncement of UIF-Peru will be communicated to the obligated subjects forming the economic group, including those not supervised by the supervisory body, and to the respective supervisory bodies.

18.5 In the case of replacement of the person occupying the position of corporate compliance officer, and as long as the economic group has not changed substantially with respect to that maintained at the time of initial approval, the obligated subjects forming the economic group must submit a document informing said replacement to the supervisory body and to the Deputy Superintendent of UIF-Peru, attaching the documentation referred to in article 17th of this standard.

18.6 The obligated subjects forming the same economic group authorized to have a corporate compliance officer, who require incorporating a new obligated subject into the economic group, whether or not supervised by the supervisory body, must submit a request signed by the representatives of each of the obligated subjects forming the economic group, including those not supervised by the supervisory body, and must follow the procedure established in paragraphs 18.3 and 18.4 of this article.

18.7 The authorization to have a corporate compliance officer will be valid for five (5) years, from the date UIF-Peru issued the corresponding authorization, renewable at the request of the obligated subjects forming the economic group, prior to compliance with the procedure described in paragraphs 18.3 and 18.4 of this article.

18.8 The authorization to have a corporate compliance officer may be revoked by the respective supervisory bodies, as well as by the SBS, when due to the particular characteristics of the companies forming the economic group, the authorization to have a corporate compliance officer is no longer justified.

Article 19th.- Confidentiality of the compliance officer.

The codes assigned by UIF-Peru, both to the obligated subject and to the compliance officer, will serve only to identify both in all communications that the compliance officer sends to UIF-Peru and to their supervisory body, thus guaranteeing the identity reserve of those, as well as the confidentiality of the information sent to UIF-Peru.

Regarding a corporate compliance officer, the codes will be assigned once the respective authorization is obtained. The obligated subject and their compliance officer will adopt the necessary actions to guarantee the reserve of said codes or secret keys.

On the other hand, it corresponds to the supervisory body and to the SBS to adopt the necessary security measures to guarantee the confidentiality of the information they become aware of, in the exercise of their respective duties.

Article 20th.- Responsibilities of the compliance officer

The responsibilities of the compliance officer are the following:
a) Monitor compliance with the AML/CFT prevention system, including procedures for timely detection and reporting of suspicious operations. b) Develop and implement the methodology for identification and risk assessment of the obligated subject, as well as prepare the corresponding technical report. c) Verify the application of policies and procedures implemented for customer and worker due diligence. d) Define strategies for the prevention and detection of AML/CFT. e) Propose alert signals to be incorporated into the manual. f) Analyze unusual operations detected, with the aim of determining operations that could be classified as suspicious and, if applicable, report them to UIF-Peru through a STR, keeping control of these. g) Identify and preserve, along with the respective documentary support, for a period of five (5) years, the operations that have been classified as unusual and have not been reported to UIF-Peru. h) Adopt the necessary actions to ensure their training, the training of the obligated subject, and the training of the workers of the obligated subject, in matters of prevention and detection of AML/CFT. i) Be the interlocutor of the obligated subject before the SBS, through UIF-Peru. j) Prepare and send annual reports on the situation of the AML/CFT prevention system and its compliance. k) Custody the records and other documents required for the prevention of AML/CFT. l) Periodically review the list of politically exposed persons (PEPs). m) Periodically review, on the FATF website, the list of countries and territories considered non-cooperative (www.fatf-gafi.org), as well as the OFAC List, which can serve as a consultation tool for customer due diligence. n) Periodically review, on the United Nations website, the lists of persons involved in terrorist activities (Resolution No. 1267), in order to detect if any of them is carrying out any operation with the obligated subject. o) Periodically review, on the United Nations website, the list of countries involved in weapons of mass destruction proliferation activities and their financing. p) Others that are necessary or established by the SBS, to monitor the functioning and level of compliance of the AML/CFT prevention system.

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Article 21st.- Annual report of the compliance officer

The compliance officer will prepare and send, to the supervisory body and to UIF-Peru, an annual report on the compliance with the policies and procedures that make up the AML/CFT prevention system implemented by the obligated subject, which will contain at least the following information:
a) Annual statistics of unusual operations detected by workers, discriminating the information month by month, specifying the amounts involved. b) Annual statistics of the STR, indicating the number of operations registered per month and the amount involved. c) Annual statistics of suspicious operations reported to UIF-Peru, discriminating the information month by month, specifying the amounts involved or other aspects deemed significant. d) Description of new alert signals for unusual operations and usual types of suspicious operations that have been detected and reported, if any. e) Customer and worker due diligence policies. f) Brief description of the topics covered in the annual AML/CFT prevention training indicating the number of people trained. If the obligated subject has received more than one training, indicate the number of trainings and the number of people trained in each of them, specifying whether it was national or international. g) Detailed list of activities carried out during the year for the compliance and updating of the manual and code of conduct for the prevention of AML/CFT, as well as cases of non-compliance or non-observance of these and the corrective measures adopted. h) List of activities carried out for compliance with the regulations regarding the STR and its maintenance for the period established in this standard. i) Changes and updates to the manual and code of conduct for the prevention of AML/CFT. j) Measures adopted for the verification and custody of worker files, regarding their content and updating. k) Actions adopted regarding observations or recommendations made by the supervisory body and/or UIF-Peru. l) Other aspects that the obligated subject or the compliance officer considers relevant. m) Others determined by the supervisory body, with the express consent of the SBS, through UIF-Peru.

The annual report will be presented to the board of directors or its equivalent, in case the obligated subject is a legal entity, within thirty (30) days following the expiration of the respective period. In case the obligated subject is a natural person, the report will be presented to the holder of the activity.

The annual report will be sent by the compliance officer of the obligated subject to the supervisory body and to UIF-Peru, no later than February 15 of the following year, by the means established by the supervisory body. The submission to UIF-Peru will be carried out through the money laundering prevention portal or another means established by the SBS.

Regarding the corporate compliance officer, they must present an annual report for each of the obligated subjects that are part of the economic group, within the same deadlines cited above.

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Article 22nd.- Annexes

The following annexes form an integral part of this standard:

Annex No. 1: Alert signals.
Annex No. 2: Transaction Register (TR).
Annex No. 3: Model manual for the prevention of money laundering and terrorist financing.
Annex 3-A: Sworn statement of receipt and knowledge of the manual for the prevention of money laundering and terrorist financing.
Annex 3-B: Sworn statement of personal, work, and asset background.
Annex No. 4: Model code of conduct for the prevention of money laundering and terrorist financing.
Annex 4-A: Sworn statement of receipt and knowledge of the code of conduct for the prevention of money laundering and terrorist financing.
Annex No. 5: Form of sworn statement of customer knowledge.
Annex No. 6: Design of identification of unusual operations.

The annexes will be published on the electronic portal of the Superintendence of Banks, Insurance and Private Pension Fund Administrators (www.sbs.gob.pe), in accordance with what is established by Supreme Decree No. 001-2009-JUS.

FINAL PROVISIONS

Sole Provision.- Regarding the exemption of liability

Pursuant to article 13th of the Law, the obligated subject and its workers are exempt from criminal, civil, and administrative liability, as applicable, derived from the due compliance with current regulations on AML/CFT prevention.

Article Second

1.- From the entry into force of this standard, customs agents and owners, consignees or consignors authorized to operate as customs brokers at the national level, must send to UIF-Peru the information registered in the Transaction Register (TR), on the occasions when it requests it.

Through a multiple letter, the obligated subject will be communicated the date from which they must send their TR to UIF-Peru, in the structure, electronic medium, and in accordance with the instructions to be determined.

Article Third.- This resolution will enter into force the day after its publication in the Official Gazette El Peruano.

Register, communicate, and publish.

JAVIER POGGI CAMPODÓNICO
Superintendent of Banks, Insurance and
Private Pension Fund Administrators (a.i.)

1 Article modified by Resolution SBS No. 5388-2013 of September 6, 2013 and subsequently by Resolution SBS No. 3227-2014 of May 29, 2014.