Financial Crime World

Financial Intelligence Unit Plays Crucial Role in Peru’s Fight Against Money Laundering

In recent years, Peru has taken significant strides in strengthening its financial intelligence unit to combat money laundering and financing of terrorism. This article will explore the role of the Financial Intelligence Unit of Peru (FIU-Peru) and other key entities in the country’s fight against these illicit activities.

The Creation of FIU-Peru

In 2002, Act 27693 created the Financial Intelligence Unit of Peru (FIU-Peru), a specialized unit within the Superintendence of Banking and Insurance (SBS). Since its creation, FIU-Peru has been instrumental in detecting and preventing illicit activities.

The Importance of FIU-Peru

  • Receiving, analyzing, treating, evaluating, and transmitting information: FIU-Peru receives and analyzes financial data to detect and prevent money laundering and financing of terrorism.
  • Functional, technical, and administrative autonomy: The agency has the necessary autonomy to operate effectively in its mandate.

Key Players in Peru’s Anti-Money Laundering System

Public Registry of Peru (National System of Public Registries, SINARP)

  • Although not part of the System for the Prevention and Control of Money Laundering and Financing of Terrorism (SPLAFT), SUNARP is required to provide information when needed for the fulfillment of FIU-Peru’s functions.
  • Cooperation agreement with FIU-Peru: SUNARP signed a cooperation agreement with FIU-Peru, providing technical support in registration matters.

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

  • Created through Supreme Decree 057-2011-PCM to coordinate actions by public and private entities aimed at preventing and combating ML/TF crimes.
  • Cooperation agreement with FIU-Peru: CONTRALAFT signed a cooperation agreement with FIU-Peru, providing technical support in registration matters.

Guidelines and Recommendations from the Financial Action Task Force (FATF)

  • Peru has aligned itself with international standards, demonstrating its commitment to combating money laundering.
  • The guidelines and recommendations from FATF are particularly relevant to Peru’s efforts against money laundering.

Conclusion

In conclusion, Peru’s financial intelligence unit plays a crucial role in detecting and preventing money laundering and financing of terrorism. With the implementation of measures such as FIU-Peru and the adoption of international standards, the country has made significant progress in combating these illicit activities.