AML (Anti-Money Laundering) refers to the need imposed by the State so that sectors sensitive to money laundering have a prevention program appropriate to their risks.
With the increase in the complexity of business relationships, the State realized that it would not be able to follow the news of each enterprise in order to properly supervise them. There was a loss of the centrality of the Public Power, which passed the onus of monitoring the risks of money laundering to sectors sensitive to the issue.
Law No. 9,613 establishes which are these sensitive sectors and gives the regulatory and supervisory bodies of such activities the responsibility to define adequate rules for the prevention of money laundering.
Law No. 9,613 requires that a PLD Program be structured for individuals or legal entities that carry out activities sensitive to money laundering, whether due to the fluidity of the value of the products, the movement of large amounts (mainly in cash) or any characteristics that facilitate the concealment of illicitly obtained values.
For this reason, article 9 of the law obliges the implementation of AML mechanisms in the financial, capital, real estate and insurance markets, as well as all those who sell or intermediate the trade of luxury or high-value goods, works of art and antiquity, jewelry, precious metals and stones, among others.
International best practices have imposed the need not only to address the prevention of money laundering (AML), but also to combat the financing of terrorism (“AML/CFT”) and, more recently, to combat the financing of the proliferation of weapons of mass destruction (“AML/CFT”) among the points that must be addressed by sensitive sectors. Each obligated sector must meet the breadth of scope and the requirements that are required of it in the form of their respective relevant regulations.
We structure a AML/CFT Program suited to your business needs, based on applicable regulations and national and international anti-money laundering guidelines.
We advise national and foreign companies in the implementation of the necessary controls: