Financial Crime World

Peru Takes Measures to Combat Financial Crime

Combating Money Laundering and Financial Crime in Peru

In recent years, Peru has implemented various regulations and systems aimed at detecting and preventing illicit activities. According to the Bank Association of Peru (ASBANC), assets worth over $12.9 billion were laundered in the country between 2007 and 2016.

Key Players in Combating Financial Crime

  • Financial Intelligence Unit of Peru (FIU-Peru): A state agency with broad powers to investigate financial crimes, including money laundering and financing of terrorism.
  • System for the Prevention and Control of Money-Laundering and Financing of Terrorism (SPLAFT): Requires financial institutions, notaries, real estate agencies, and other entities to report suspicious transactions.

Coordination Efforts

Peru has established various coordination mechanisms to combat financial crime, including:

  • Multisectorial Executive Commission against Money Laundering and Financing of Terrorism (CONTRALAFT): Coordinates actions aimed at preventing and combating money laundering and financing of terrorism.
  • Public Registry of Peru (National System of Public Registries, SINARP): Provides information to the FIU-Peru when needed for the fulfillment of its functions.

International Cooperation

The Financial Action Task Force (FATF) has provided guidelines and recommendations for Peru’s efforts to combat financial crime. The FATF is an intergovernmental organization that sets standards and promotes effective implementation of legal, regulatory, and operational measures for combating money laundering, terrorist financing, and other related threats to the integrity of the international financial system.

Ongoing Efforts

Peru’s efforts to combat financial crime are ongoing, with various public and private entities working together to prevent and detect illicit activities. As a result, the country has made significant progress in preventing and combating financial crime, but there is still much work to be done to ensure that Peru remains a safe and secure financial environment for all stakeholders.