As we timely informed, the Federal Law on the Prevention and Identification of Operations from Illicit Sources (Anti-Money Laundering Law) became effective on July 17, 2013. The purpose of this law is to establish measures and procedures to detect economic activities that owing to their nature and characteristics may be carried out with resources from illicit sources (vulnerable activities).
In this regard, Article 17 of the law in question provides a list of 15 vulnerable activities, such as: i) loan or guarantee transactions, ii) construction services involving the purchase and sale of real property, iii) the commercialization of land, air or sea vehicles, iv) the provision of professional services, v) receiving donations and, VI) the leasing of real property.
Four years after the becoming effective of the Anti-Money Laundering Law, the Financial Intelligence Unit (FIU), together with the Tax Administration Service, has conducted audits with the aim of revising whether the persons subject to the law have complied with their obligations, such as filing the notices corresponding to each reportable activity, as well as keeping the files related to their clients.
We are currently dealing with various audits where the FIU is verifying compliance with the Anti-Money Laundering Law. It is worth pointing out that these procedures have been initiated regardless of the fact that the company has an official letter issued by the FIU in reply to an inquiry made in the particular case thereof.
In this sense, we are at your service to analyze your specific case, due to the fact that we have the knowledge and experience required to support companies that are subject to the compliance with obligations provided by the Anti-Money Laundering Law.