Dominican Republic
Regulatory framework
Introduction
The Dominican Republic, like other countries in its surroundings, also embraces within its normative framework provisions regarding prevention of money laundering and terrorism financing.
The fundamental rule among these will be the Law No. 155-17 on asset laundering and terrorism financing.Financial Intelligence Unit
The Dominican Republic also includes within its institutional structure the role of the Financial Intelligence Unit. The Financial Analysis Unit is based on prevention regulations to carry out its functions throughout the entire territory of the Dominican Republic.
Links of interest:
Obligated subjects
The legal framework of Mexico regarding the prevention of money laundering and financing of terrorism establishes certain individuals and entities as obligated subjects based on the vulnerable activities they carry out.
Among these subjects, financial entities and banks stand out, as well as insurance companies, pawn shops, lawyers and notaries, and construction companies.
Links of interest:
- https://sb.gob.do/regulacion/compendio-de-leyes-y-reglamentos/ley-no-155-17-lavado-de-activos-y-el-financiamiento-del-terrorismo/
- https://www.sb.gob.do/regulacion/reglamentos/reglamento-de-aplicacion-de-la-ley-no155-17-contra-el-lavado-de-activos-el-financiamiento-del-terrorismo-y-la-proliferacion-de-armas-de-destruccion-masiva/
> PEPs
Introduction
The regulatory framework for politically exposed persons in the Dominican Republic is provided by the prevention law and its Regulation of development.
Links of interest:
- https://sb.gob.do/regulacion/compendio-de-leyes-y-reglamentos/ley-no-155-17-lavado-de-activos-y-el-financiamiento-del-terrorismo/
- https://www.sb.gob.do/regulacion/reglamentos/reglamento-de-aplicacion-de-la-ley-no155-17-contra-el-lavado-de-activos-el-financiamiento-del-terrorismo-y-la-proliferacion-de-armas-de-destruccion-masiva/
Definition of PEP
The legal system of the Dominican Republic considers the following as PEPs:
- The President and the Vice President of the Republic.
- The Ministers and Deputy Ministers.
- The National Directors, Generals and Deputy Directors of the centralized and decentralized organs of the State.
- The Senators and Deputies.
- The Judges of the Supreme Court of Justice, the Constitutional Court, and the Superior Electoral Court.
- The Governor and the Deputy Governor of the Central Bank.
- The Manager and the Comptroller of the Central Bank.
- The members of the Chamber of Accounts of the Dominican Republic.
- The members of the Central Electoral Board.
- The Mayors, Deputy Mayors, Councillors, and Municipal Treasurers.
- The Directors and Treasurers of the municipal districts.
- The Ambassadors and Consul Generals.
- The members of state-owned enterprises.
- The Provincial Governors.
- The Chiefs and Deputy Chiefs of Staff of the military institutions.
- The General Officers and other officers in operational or administrative command positions.
- All those officials obliged to submit a sworn statement of assets.
Links of interest:
- https://sb.gob.do/regulacion/compendio-de-leyes-y-reglamentos/ley-no-155-17-lavado-de-activos-y-el-financiamiento-del-terrorismo/
- https://www.sb.gob.do/regulacion/reglamentos/reglamento-de-aplicacion-de-la-ley-no155-17-contra-el-lavado-de-activos-el-financiamiento-del-terrorismo-y-la-proliferacion-de-armas-de-destruccion-masiva/
Duration of PEPs
When politically exposed persons have ceased to perform their functions, the obligated subjects will continue to apply the measures provided for such type of clients for a minimum period of three years.
Links of interest:
- https://sb.gob.do/regulacion/compendio-de-leyes-y-reglamentos/ley-no-155-17-lavado-de-activos-y-el-financiamiento-del-terrorismo/
- https://www.sb.gob.do/regulacion/reglamentos/reglamento-de-aplicacion-de-la-ley-no155-17-contra-el-lavado-de-activos-el-financiamiento-del-terrorismo-y-la-proliferacion-de-armas-de-destruccion-masiva/
Included lists
PEPs
- Web del Senado de la República Dominicana
- Web de la Cámara de Diputados de la República Dominicana
- Web del Tribunal Constitucional de la República Dominicana
- Web de la Policía Nacional de la República Dominicana
- Web de la Policía de Turismo de la República Dominicana
- Web de la Dirección General de Seguridad de Tránsito y Transporte Terrestre
- Web del Consejo Nacional de Seguridad Social
- Web de la Junta Monetaria de la República Dominicana
- Web del Ministerio de Administración Pública de la República Dominicana
- Web del Defensor del Pueblo de República Dominicana
- Web de la Junta Central Electoral de la República Dominicana
- Web de la Fuerza Aérea de la República Dominicana
- Web del Ministerio de Relaciones Exteriores de la República Dominicana
- Web del Poder Judicial de la República Dominicana
- Web del Tribunal Superior Electoral de la República Dominicana
- Web de la Cámara de Cuentas de la República Dominicana