Regulatory Alerts2018-03-03 | Resolución SBS 789-2018Added · Updated
Resolution SBS No. 789-2018: Standard for the Prevention of Money Laundering and Terrorist Financing Applicable to Obligated Subjects Under the Supervision of the UIF - Peru
The Superintendence of Banking, Insurance and Private Pension Fund Administrators (SBS) of Peru approved Resolution SBS No. 789-2018, establishing the standard for the prevention of money laundering and terrorist financing for obligated subjects under its supervision. The regulation applies to specific sectors including real estate agents, mining companies, jewelers, and non-profit organizations, mandating compliance with risk-based prevention systems and reporting obligations. It defines key terms, operational thresholds for transactions, and procedures for the loss of obligated status, requiring affected entities to implement internal controls and report suspicious activities to the Financial Intelligence Unit of Peru (UIF-Peru).