Regulatory Alerts2016-07-16 | Resolución SBS 3862-2016Added · Updated
SBS Resolution N° 3862-2016: Approves Regulation for UIF-Peru to Administratively Freeze Funds of Persons or Entities Linked to Terrorism, Terrorism Financing, and Proliferation of Weapons of Mass Destruction
The SBS Resolution N° 3862-2016 approves a regulation establishing mechanisms and procedures for UIF-Peru to administratively freeze funds and other assets. This applies to persons or entities linked to terrorism, terrorism financing, and the proliferation of weapons of mass destruction, as identified under relevant United Nations Security Council Resolutions. Obligated entities, as defined by Law N° 29038, must continuously review UNSC and SBS lists, report identified funds or operations without delay to UIF-Peru, and execute freezing orders within 24 hours of designation. UIF-Peru must report freezing measures to a judge within 24 hours for validation or revocation, and quarterly requests information from various authorities for potential inclusions or exclusions from lists.