Financial Crime World

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Peru Takes Steps to Combat Money Laundering

Lima, PERU - The Peruvian government has made significant strides in combating money laundering, a major concern in the country. Since 2007, over $12.9 billion in assets have been laundered, highlighting the need for effective measures.

Effective Measures Against Money Laundering

The Financial Intelligence Unit of Peru (FIU-Peru), created through Act 27693 in 2002, has played a crucial role in detecting and preventing money laundering. The unit has functional, technical, and administrative autonomy and is responsible for receiving, analyzing, and transmitting information to detect suspicious transactions.

Key Functions of FIU-Peru

  • Receives and analyzes information from various sources
  • Transmits information to the Public Prosecutor’s Office to investigate suspicious transactions
  • Collaborates with other entities to prevent and combat money laundering and financing of terrorism

System for Prevention and Control of Money-Laundering and Financing of Terrorism (SPLAFT)

The FIU-Peru is part of the Superintendence of Banking and Insurance (SBS) and contributes to the implementation of SPLAFT. The system allows banks, notaries, real estate agencies, and other entities to report suspicious transactions, which are then analyzed and referred to the Public Prosecutor’s Office.

Multisectorial Executive Commission against Money Laundering and Financing of Terrorism (CONTRALAFT)

The Peruvian government has also established CONTRALAFT, attached to the Ministry of Justice and Human Rights. The commission coordinates actions between public and private entities to prevent and combat money laundering and financing of terrorism.

National Public Registry of Peru

The National Public Registry of Peru provides information when needed for the fulfillment of the FIU-Peru’s functions and cooperates in registration matters.

National Plan against Money Laundering and Financing of Terrorism

The government has also approved the National Plan against Money Laundering and Financing of Terrorism, which aims to coordinate and plan actions to prevent and combat these crimes.

Key Players Involved in Combating Money Laundering in Peru

  • Financial Intelligence Unit of Peru (FIU-Peru)
  • Superintendence of Banking and Insurance (SBS)
  • Multisectorial Executive Commission against Money Laundering and Financing of Terrorism (CONTRALAFT)
  • National Public Registry of Peru (SUNARP)

Regulatory Framework

  • Act 27693 (2002) - created the FIU-Peru
  • Supreme Decree 018-2016-JUS (now Supreme Decree 20-2017-JUS) - regulates the FIU-Peru
  • Act 29038 (2007) - incorporated the FIU-Peru into the SBS
  • Supreme Decree 057-2011-PCM - created CONTRALAFT
  • National Plan against Money Laundering and Financing of Terrorism

International Cooperation

The Peruvian government has committed to international cooperation in combating money laundering, including adherence to the guidelines and recommendations from the Financial Action Task Force (FATF).