Seprelad establishes simplified due diligence regimen for obligated parties
On March 2, 2022, the Secretariat for the Prevention of Money and Asset Laundering (SEPRELAD) issued Resolutions 74/21 y 75/21, which respectively modify Article 27 of Resolution 70/19 and Article 33 of Resolution 248/20. The two modified resolutions respectively set forth the Rules for the Prevention of Money Laundering and Financing of Terrorism, based on a risk management system, for banks and financial entities, on the one hand, and for currency exchange agencies, on the other. In both cases, the modifications establish a simplified due diligence and KYC regime, allowing obligated parties to abbreviate certain informational requirements in the client identification stage, so long as the client level of risks permits it.
For more information, the full text of both resolutions can be found here