Financial Crime World

Peru’s Financial Intelligence Unit: Cracking Down on Money Laundering - A Collaborative Effort

Peru’s Fight against Money Laundering and Financing of Terrorism (LA/FT): Key Statistics

  • Since 2007, over $12.9 billion in assets have been laundered in Peru (ASBANC data).

The Establishment of Peru’s Financial Intelligence Unit (FIU-Peru)

  • Established in 2002, as part of Peru’s commitment to the Vienna Convention (1988) and its anti-money laundering (AML) regulations.
  • Empowered to receive, analyze, and transmit suspicious transactions information to the Public Prosecutor’s Office and judiciary.

FiU-Peru: Broad Powers and Autonomy

  • Now part of the Superintendence of Banking and Insurance (SBS).
  • Functional, technical, and administrative autonomy granted by Act 27693 (2002).
  • Indispensable cooperation from entities like the National Superintendence of Public Registries (SUNARP).

SUNARP’s Role in Peru’s AML Strategy

  • Not directly part of the SPLAFT system, but contributes by providing necessary information and technical support.
  • Chaired by the Ministry of Justice and Human Rights (MINJUS), SUNARP is a member of the Multisectorial Executive Commission against money laundering and financing of terrorism (CONTRALAFT).

FATF Guidelines and Peru’s Commitment

  • The Financial Action Task Force (FATF) recommendations serve as crucial references for enforcing and implementing effective AML policies.
  • Peru’s collaboration with the FATF and development of strong AML systems demonstrate a significant step towards reducing illicit gains from crime and enhancing global financial security.

Peru’s History of Combating Money Laundering

  • 1988: Peru signed the United Nations Convention, also known as the “Vienna Convention.”
  • 2002: The Financial Intelligence Unit-Peru (FIU-Peru) was established.
  • 2007: Over $12.9 billion in assets were laundered in Peru.

FIU-Peru: Powers and Autonomy

  • Now part of the Superintendence of Banking and Insurance (SBS).
  • Granted functional, technical, and administrative autonomy by Act 27693 (2002).
  • Empowered to receive, analyze, and transmit suspicious transactions information.

SUNARP’s Role in Peru’s AML Strategy

  • Not a part of the SPLAFT system but contributes indirectly by providing necessary information and technical support.
  • Chaired by the Ministry of Justice and Human Rights (MINJUS).
  • A member of the Multisectorial Executive Commission against money laundering and financing of terrorism (CONTRALAFT).

FATF Guidelines and Peru’s Commitment

  • The Financial Action Task Force (FATF) recommendations serve as crucial references for enforcing and implementing effective AML policies.
  • Peru’s unwavering commitment to FATF collaborations and strong AML systems demonstrate a significant step towards reducing illicit gains from crime and enhancing global financial security.