Advice and support in complying with money laundering prevention obligations
Based on legal anti-money laundering regulations, we advise and support companies to ensure they correctly fulfill all their obligations.
Beneficial Owner Analysis
On November 12, 2021, a decree was published in the Official Gazette of the Federation that added to the Federal Tax Code (CFF) an obligation for legal entities, trusts, and other legal entities to obtain, maintain as part of their accounting records, and provide to the Tax Administration Service reliable, complete, and up-to-date information on their controlling beneficiaries.
We provide specialized services to identify controlling beneficiaries through the analysis of all corporate documentation and correctly determine how they exercise control or ownership of the company. We also develop the corresponding guidelines.
Training
In accordance with the needs and operating methods of each company, we offer training programs specializing in:
· Money laundering prevention for the following sectors:
(i) Commercial.
(ii) professional.
(iii) financial.
· Identification of controlling beneficiaries.
· Criminal liability of companies.
Confirmations of Criteria
We prepare documents that comply with the Federal Administrative Procedure Law and the Federal Law for the Prevention and Identification of Operations with Illicit Resources (Anti-Money Laundering Law). These documents are used to present a specific case to the authorities, who then determine whether or not a company is engaged in any vulnerable activities.
Compliance with anti-money laundering laws in the financial sector
We provide training and review processes and prepare manuals and guidelines on money laundering prevention compliance in the financial sector in accordance with relevant financial legislation and its general provisions.
Legal defense against fines and account freezing.
As defense attorneys, we represent companies or individuals who have been sanctioned by the Tax Administration Service or the National Banking and Securities Commission for failing to comply with money laundering and/or terrorist financing prevention obligations.
We also represent individuals and legal entities whose bank accounts have been frozen in court.
Exercise of the right to self-correction
According to Article 55 of the Anti-Money Laundering Law, individuals or entities carrying out vulnerable activities can correct noncompliance and/or errors if they voluntarily comply with their obligations and acknowledge the mistake before the authority exercises its powers of verification.
We draft letters in which companies request that the SAT apply the right of self-correction, ensuring that our clients correctly comply with their obligations.
Crime Prevention Programs for Legal Entities
According to the Federal Criminal Code, when a company's member or representative commits a crime using the company's resources, acting on its behalf, or for its benefit, the company may be held criminally liable.
However, the Code also provides for a reduction in the penalty if the company had a crime prevention program in place prior to the crime.
In this context, we provide specialized services in the following areas:
(i) evaluation of crime prevention programs
(ii) the development or refinement of crime prevention programs.
Preventive Compliance Reviews
We conduct preventive compliance reviews in the form of verification visits or simulated requests for information. In other words, we ask companies for information and/or documentation that, based on our experience, may be required by the authorities (SAT and/or UIF).
After carrying out this simulated verification, we delivered a report containing the results and the remediation plan to mitigate the risk of sanctions.
Monthly monitoring and review of files for filing notices.
To ensure proper compliance with obligations and mitigate the risk of sanctions, we review identification files and monitor transactions monthly for filing notices and/or reports on vulnerable activities.