Peru Regulator Opens Comment on Proposed Anti-Money-Laundering Rules

Peru’s banking, insurance and pension regulator opened public comment on proposed anti-money-laundering rules for cash carriers and financial firms, adding detailed compliance duties to businesses already under financial-intelligence oversight. The Superintendencia de Banca, Seguros y AFP (SBS) oversees banking, insurance and private pension funds. The proposal covers businesses that transport or safeguard cash and securities outside SBS supervision; factoring and financial leasing firms it does not supervise; and managers of privately offered investment funds not supervised by the Superintendencia del Mercado de Valores (SMV), Peru’s securities-market regulator. The affected businesses already fall under oversight by Peru’s financial intelligence unit, Unidad de Inteligencia Financiera (UIF-Perú). The draft includes requirements for knowing directors, employees and suppliers; customer due diligence; staff training; a prevention code; and money-laundering and terrorist-financing risk factors.

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