The provision, which comes into force on November 26, states that entities such as cooperatives, accountants and auditors must also comply with the obligations under the law.

This includes co-operations who transact savings and credit operations, persons administering or implementing state funding, public accountants and auditors.

Other people and entities who also have to comply with the obligations under the Law Against Money Laundering and Other Assets are insurance intermediaries, persons or firms engaged in real estate development activities, purchase and sales of vehicles, and other trade-related activities .

The inclusion of these entities is due to the fact that they carry out activities which make them susceptible to having their services and products used in activities of laundering money or other assets.

These people, says the regulations are obliged to keep records of customers and daily operations. In addition, every three months they must submit a report on non-detection of suspicious transactions, and in cases where they do find them they must report them to the Superintendency of Banks.

Source: prensalibre.com

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