A law has come into force which requires banks to register as atypical all transactions of more than $4 thousand that are realized in cash.
Friday, March 31, 2017
The decree by the Central Bank which comes into effect from April establishes new requirements for banks when dealing with transactions made both in domestic and foreign currency, as well as cash or through other means.
The decree states:
"... a) For cash transactions made in foreign currency made by its customers, the sum of four thousand dollars of the United States of America (US $4,000.00) or its equivalent in any other foreign currency is established.
b) For cash transactions in national currency made by its customers, the sum of two hundred thousand lempiras (L200,000.00) is established.
c) Fo noncash transactions with its customers, the sum of two hundred thousand lempiras (L200,000.00) or its equivalent in foreign currency is established.
d) For remittance transactions the sum of two thousand dollars of the United States of America (US $2,000.00) or its equivalent in another foreign currency or national currency is established."
A bill has been put forward which aims to include credit card operators who are not currently subject to regulation by the SUGEF.
If the bill promoted by the Executive thrives in the Legislature, companies that issue credit cards and who are not part of the already regulated "financial groups...
The maximum amount allowed for banking transactions in cash in foreign and national currency has been lowered from $10,000 to $4,000.
From a resolution by the Central Bank of Honduras:
For purposes of the application of Articles 8, 12, 23 and 25 and in compliance with the provisions of Article 86 of the Special Law against Money Laundering the following amounts have been established:
With the proposed reform to Law 8204, all electronic transfers of $1,000 or more will have to be justified by customers and registered by banks.
Article 19a of the regulation under consultation indicates that "...The subjects under obligation who provide transfer services to or from other countries in local or foreign currency, which equal or exceed US $1,000.00 (one thousand dollars in the currency of the United States of America) or its equivalent in colones or other foreign currency, must electronically record the information listed below:
×
ok
7567Government Procurement Opportunities in the region