CMF issued Circular No. 2.368, updating the existing regulatory framework on the prevention of money laundering, terrorist financing, and the financing of the proliferation of weapons of mass destruction. The circular introduces adjustments and clarifications applicable to banks, savings and credit cooperatives, and card issuers, strengthening requirements related to the Compliance Officer’s role, due diligence processes, transaction reporting, and the traceability of electronic fund transfers.

CMF issued Circular No. 2.368, updating the existing regulatory framework on the prevention of money laundering, terrorist financing, and the financing of the proliferation of weapons of mass destruction. The circular introduces adjustments and clarifications applicable to banks, savings and credit cooperatives, and card issuers, strengthening requirements related to the Compliance Officer’s role, due diligence processes, transaction reporting, and the traceability of electronic fund transfers.