Compliance and AML/CFT
Regulatory integrity programs and prevention of money laundering and terrorist financing.
A compliance program must relate legal obligations to the organization's activities, risks and structure. In the prevention of money laundering and terrorist financing, Law 9,613 is complemented by sector-specific rules, depending on the authority and activity involved. Identifying clients and ultimate beneficial owners, analyzing transactions and maintaining records require consistent criteria. There is no single policy capable of serving all institutions indiscriminately.
Legal advice covers assessment of the applicable classification, review of policies and definition of responsibilities and decision-making flows. Monitoring procedures must provide for alert analysis and documentation of conclusions, in addition to the communications required to the competent authority. An alert does not, by itself, amount to a finding of a crime. Training, governance and oversight of controls help make the rules operational. Engaging tools or external providers does not eliminate the legal duties of the obligated entity and those responsible for it.
Our work
- AML/CFT policies and governance
- Procedures for clients, ultimate beneficial owners and transactions
- Legal analysis of alerts and reporting obligations
Does every monitoring alert prove money laundering?
No. An alert requires analysis under the applicable criteria. Documentation and any resulting communication follow their own duties, without turning the institution into the authority responsible for declaring that a crime has occurred.
Editorial review: