Resolution SBS No. 6414-2014: Approves the Standard Establishing Requirements and Characteristics of Suspicious Transaction Reports (STRs) Issued by Supervisory Bodies to UIF-Peru

Lima, September 26, 2014
S.B.S. Resolution
No. 6414 -2014
The Superintendent of Banks, Insurance, and Private Pension Fund Administrators

CONSIDERING:

That, through Law No. 27693 and its modifying regulations, the Financial Intelligence Unit of Peru (UIF-Peru) was created, responsible for receiving, analyzing, processing, evaluating, and transmitting information for the detection of money laundering and terrorist financing. To this end, a list of obligated entities required to report was established, which includes implementing a System for the Prevention of Money Laundering and Terrorist Financing, as well as the supervisory bodies in matters of prevention of money laundering and terrorist financing;

That, in accordance with Article 3 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 authority of the SBS, through UIF-Peru, to request, receive, require expansions, and analyze information on suspicious transactions reported by obligated entities and their supervisory bodies, or those detected from information contained in databases to which it has access;

That, the supervisory bodies in matters of prevention of money laundering and terrorist financing are those public or private organizations or institutions that, according to their regulations or purposes, exercise functions of supervision, inspection, control, registration, functional or guild authorization regarding obligated entities, as provided in Article 9º-A of Law No. 27693, incorporated by the Fifth Complementary Modifying Provision of the aforementioned Legislative Decree No. 1106;

That, Article 10 of Law No. 27693, modified by the First Complementary Modifying Provision of the aforementioned Legislative Decree No. 1106, provides that the supervisory bodies of obligated entities shall issue to UIF-Peru Suspicious Transaction Reports (STRs) related to money laundering or terrorist financing when, through the exercise of their supervisory functions, they detect indications of money laundering or terrorist financing; and UIF-Peru may request from the supervisory body all information related to the reported case, establishing by SBS Resolution the requirements and characteristics of said STRs;

That, it is necessary to establish the requirements and characteristics of the STRs that the supervisory bodies of obligated entities shall issue to UIF-Peru in accordance with current regulations, as well as to establish the modalities, form, and timing through which they will communicate such operations to UIF-Peru with guarantees of information confidentiality;

Having the approval of the Financial Intelligence Unit of Peru and the Adjunct Superintendency of Legal Advice;

In exercise of the powers conferred by Law No. 29038 and the General Law of the Financial System and the Insurance System and Organic Law of the Superintendency of Banking and Insurance, Law No. 26702 and its modifying regulations, in concordance with Law No. 27693 and its modifying regulations; and in accordance with the exception conditions provided in numeral 3.2 of Article 14 of Supreme Decree No. 001-2009-JUS and its modifying regulations;

RESOLVES:

Article First.- Approve the Standard that establishes the requirements and characteristics of the Suspicious Transaction Reports (STRs) that the supervisory bodies of obligated entities shall issue to UIF-Peru, when through the exercise of their supervisory functions they detect indications of money laundering or terrorist financing, which is transcribed below:

“STANDARD THAT ESTABLISHES THE REQUIREMENTS AND CHARACTERISTICS OF THE SUSPICIOUS TRANSACTION REPORTS (STRs) THAT THE SUPERVISORY BODIES OF OBLIGATED ENTITIES SHALL ISSUE TO UIF-PERU”

Chapter I
General Provisions

Article 1º.- Scope1
This standard is applicable to the supervisory bodies of obligated entities in matters of prevention and detection of money laundering and terrorist financing, established in current regulations.

Article 2º.- Definitions and Abbreviations
The supervisory bodies of obligated entities must consider the following definitions and abbreviations for the application of this standard:

1. Client: refers to the client of the obligated entity.
2. Days: calendar days.
3. Terrorist Financing: crime typified in Article 4º-A of Law Decree No. 25475 and its modifying regulations.
4. ML/TF: money laundering and terrorist financing.
5. 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.
6. Law: Law that creates the Financial Intelligence Unit of Peru, UIF-Peru, Law No. 27693 and its modifying regulations.
7. Liaison Officer: natural person acting as contact between the supervisory body and UIF-Peru.
8. Unusual Operations2: operations carried out or attempted to be carried out, whose amount, characteristics, and periodicity do not relate to the client's economic activity, fall outside the parameters of normality current in the market, or have no evident legal basis.
9. Suspicious Operations: operations carried out or attempted to be carried out, whose

1 Article modified by SBS Resolution No. 5060-2018 of 12/26/2018 Clause modified by SBS Resolution No. 3949-2019 of 08/28/2019

amount or characteristics do not relate to the client's economic activity, or that do not have an economic basis; or, that by their number, amounts transacted, or particular characteristics of these, could reasonably lead to suspect that the obligated entity is being used to transfer, manage, take advantage of, or invest resources coming from criminal activities or destined for their financing.
10. Supervisory Bodies: organizations or public or private institutions that, according to their regulations or purposes, exercise functions of supervision, inspection, control, registration, functional, or guild authorization regarding obligated entities. For the purposes of this standard, when reference is made to supervisory bodies, it shall be understood that it refers to the supervisory bodies in matters of prevention of ML/TF, as provided in Article 9º-A of Law No. 27693.
11. Regulation3: Regulation of Law No. 27693, Law that creates the Financial Intelligence Unit - Peru (UIF-Peru), approved by Supreme Decree No. 020-2017-JUS.
12. STR: Suspicious Transaction Report.
13. ROSEL: Online Suspicious Transaction Reporting System.
14. SBS: Superintendency of Banks, Insurance, and Private Pension Fund Administrators.
15. Obligated Entity4: natural or legal person, State company, or public entity obliged to report to UIF-Peru, according to what is indicated in Article 3, numerals 3.1 and 3.2 of Law No. 29038 and in Article 2 of Supreme Decree No. 020-2017-JUS and the norms that modify or replace them.
16. UIF-Peru: Financial Intelligence Unit of Peru; a specialized unit of the SBS.

Chapter II
Suspicious Transaction Reporting and its Communication to UIF-Peru

Article 3º.- STR and its Communication5

3.1. Supervisory bodies have the obligation to communicate to UIF-Peru, through their liaison officer, operations carried out or attempted to be carried out, regardless of the amounts involved, that are considered suspicious, when through the exercise of their supervisory functions they detect indications of ML/TF; in accordance with what is provided in the Law, the regulation, and this standard.
3.2. The documentation supporting the classification of the operation as suspicious must be attached to the STR. The communication of the STR must be made immediately, that is, within a period that in no case must exceed twenty-four (24) hours from when the operation is classified as suspicious. The period to classify an operation as suspicious is subject to its nature and complexity.
3.3. For the preparation of the STR, the liaison officer must use only the ROSEL Template and the documents published on the Portal for the Prevention of Money Laundering and Terrorist Financing – PLAFT Portal (http://plaft.sbs.gob.pe/) enabled by the SBS for such effect.
3.4. The filling and sending of the STR and attached or complementary documentation must adhere to what is established in the manuals, tutorials, or other documents published on the aforementioned PLAFT Portal.
3.5. Under no circumstances shall the identity of the liaison officer, the supervisory body, nor that of the obligated entity and/or its compliance officer, nor any other element that could contribute to identifying them, be recorded in the STR, except for the secret codes or keys assigned by UIF-Peru to the liaison officer and the supervisory body.

Clause modified by SBS Resolution No. 3949-2019 of 08/28/2019 Clause modified by SBS Resolution No. 3949-2019 of 08/28/2019 5 Article modified by SBS Resolution No. 3949-2019 of 08/28/2019

3.6. The liaison officer and the compliance officer are responsible for the correct use of the ROSEL system and all information contained in the ROSEL Template and supporting documentation, for which they must adopt necessary measures to ensure the accuracy and truthfulness of the information, its reserve, and confidentiality.
3.7. The communication of suspicious operations to UIF-Peru by the supervisory body, through the liaison officer, has a confidential and reserved character. For all legal effects, the STR does not constitute a criminal complaint.

Article 4º.- ROSEL
ROSEL is a technological tool developed by the SBS, which constitutes the electronic medium through which, in accordance with current regulations, the supervisory bodies of obligated entities submit to UIF-Peru the Suspicious Transaction Reports (STRs), when through the exercise of their supervisory functions they detect indications of ML/TF, under standards that ensure that the information is transmitted with an adequate level of security.

Chapter III
Liaison Officer

Article 5°.- Liaison Officer, Designation, and Functions

5.1 The liaison officer is the natural person of contact between the supervisory body and UIF-Peru, whose functions are the consultation and coordination of activities with UIF-Peru, as well as the submission to UIF-Peru of STRs when the supervisory body they represent, through the exercise of their supervisory functions, detects indications of ML/TF.
5.2 The liaison officer is designated by the head of the supervisory body. The supervisory body may designate an alternate liaison officer for the situations indicated in Article 7°, which must comply with all provisions applicable to the liaison officer.
Exceptionally and according to their functions, the supervisory body may designate more than one liaison officer, in which case, each will be considered as a principal liaison officer. For this effect, the supervisory body must send to UIF-Peru a report justifying the designation of more than one liaison officer. The supervisory body may designate alternate liaison officers for each principal liaison officer. The designation of the alternate liaison officer may be made simultaneously with the designation of the liaison officer or subsequently.
5.3 The designation of the liaison officer must be communicated by the head of the supervisory body to UIF-Peru, in a confidential and reserved manner, within a period not greater than five (5) business days from the date of designation, attaching the documentation that accredits that they meet the requirements for their designation, and indicating at minimum the following information:
a) First and last names. b) Type and number of identity document. c) Nationality. d) Address of the office where they work. e) Position held, indicating the date of appointment in the same and, if applicable, resolution number and date of issuance or publication. f) Contact data (phones and email).
Changes in the information mentioned in letters d), e), and f) above must be communicated by the supervisory body to UIF-Peru, within a period not greater than five (5) business days from when they occurred.

5.4 Once the designation is communicated and the requirements and documentation indicated in this article are verified, UIF-Peru assigns secret codes, both to the supervisory body and to the designated liaison officer and the alternate officer, if applicable.

Article 6°.- Requirements of the Liaison Officer

6.1 To be a liaison officer, it is necessary to meet the following minimum requirements, which can be accredited by sworn statement:
a) Hold a managerial position or similar, have an employment link with the supervisory body, and have a minimum of one (1) year of work experience in the activities proper to the supervisory body and/or in ML/TF prevention, or experience for an equal period as a liaison officer or compliance officer or worker in the area in charge of the compliance officer or liaison officer, even in another supervisory body. b) Not have been convicted for the commission of intentional crimes. c) Not have been dismissed from public office or have been terminated from it for serious fault. d) Not have overdue debts for more than one hundred twenty (120) days in the financial system or in judicial collection, nor protests of documents in the last five (5) years, not clarified to the satisfaction of the SBS. e) Not have been declared bankrupt. f) Others established by the SBS.
6.2 The requirements to be designated as a liaison officer must remain valid during the exercise of their functions. If they cease to meet any of these requirements, the liaison officer must communicate this in writing to the head of the supervisory body within a maximum period of five (5) business days from the occurrence of the fact. In this case, within a maximum period of five (5) business days counted from the communication presented by the liaison officer, the supervisory body must designate a new liaison officer who meets the aforementioned requirements, and communicate such designation to UIF-Peru, considering what is stated in Article 5°.

Article 7°.- Temporary Absence and Vacancy of the Liaison Officer

7.1 In case of temporary absence or vacancy, the alternate liaison officer may perform their functions, even until the designation of the new liaison officer.
7.2 In cases where it is required that the alternate liaison officer perform the functions established in this standard, the supervisory body must communicate this in writing to UIF-Peru, within a period not less than five (5) business days prior to the absence of the liaison officer, except in cases of force majeure duly substantiated, indicating the period of absence.
7.3 The period of temporary absence of the liaison officer cannot last more than four (4) months.
7.4 The situation of vacancy of the liaison officer cannot last more than thirty (30) days. The supervisory body must communicate the situation of vacancy within five (5) business days of its occurrence.

COMPLEMENTARY PROVISIONS

First.- Exemption of Liability
In accordance with Article 13° of the Law, the supervisory body and its liaison officer are exempt from criminal, civil, and administrative liability, derived from the due compliance of this standard, as applicable.

Second.- Communications
Communications regarding the designation of liaison officers addressed by supervisory bodies to UIF-Peru and other similar communications sent to UIF Peru, distinct from STRs, shall be presented in official written document, or according to the medium determined by the SBS.
Communications must observe security measures in order to protect the identity of the liaison officer and the alternate liaison officer, if applicable.
For the sending of these communications, UIF-Peru assigns secret codes that must be employed in the referred communications.

Article Second.- The supervisory bodies of obligated entities reporting to UIF-Peru, referred to in Article 9-Aº of Law No. 27693 and its modifying regulations, must submit the STR, as well as all attached or complementary documentation, exclusively through the ROSEL System, using the ROSEL template and its annexes published on the portal for the prevention of money laundering and terrorist financing enabled by the SBS, except in those cases duly justified and substantiated by the head of the supervisory body, and authorized by the SBS, through UIF-Peru.

Article Third.- The supervisory bodies of obligated entities reporting to UIF-Peru, referred to in Article 9-Aº of Law No. 27693 and its modifying regulations, must ratify and/or designate their principal and alternate liaison officers for the purposes of this standard, before the entry into force of this resolution.

Article Fourth.- This resolution shall enter into force on December 1, 2014.

Register, communicate, and publish.
JAVIER POGGI CAMPODONICO
Superintendent of Banks, Insurance, and Private Pension Fund Administrators (a.i.)