Uruguay
Regulatory framework
Introduction
Uruguay, like other countries in its environment, also embraces provisions on the prevention of money laundering and terrorist financing in its normative heritage.
Financial Intelligence Unit
The Financial Intelligence Unit of Uruguay, also known as the Financial Information and Analysis Unit, was established by a Resolution of the Director of the Central Bank of Uruguay in December 2000. Over time, various regulatory modifications have adjusted and consolidated its regulatory framework. It is also important to note the existence of the National Secretariat for the Fight against Money Laundering and Terrorism Financing, whose main mission is the supervision of non-financial obligated subjects.
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Obligated subjects
The legal regime of Uruguay in terms of prevention of money laundering and financing of terrorism institutes certain individuals and entities as obliged subjects based on the economic activity they carry out.
Among these subjects, the credit entities and banks, insurance companies, associations or foundations, as well as auctioneers and public accountants stand out.
Links of interest:
> PEPs
Introduction
The regulatory framework for politically exposed persons is set by prevention laws and resolutions of the National Secretariat for the Fight Against Money Laundering and Terrorist Financing. In particular, the PEPs List published monthly by this Secretariat is very enlightening.
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Definition of PEP
The legal system of Uruguay establishes that the following will be politically exposed persons:
- President and Vice-President of the Republic.
- Secretary and Deputy Secretary of the Presidency of the Republic.
- State Ministers.
- Holders of positions with the rank of General or National Director and General Inspector of the Central Administration.
- Deputy State Secretaries, Court Attorney and General Procurator of the Nation.
- Ministers of the Supreme Court of Justice, of the Administrative Litigation Tribunal, of the Court of Auditors and of the Electoral Court. State Attorney General in Administrative Litigation.
- Members of the Court of Appeals, Attorney Generals, Law Judges, Peace Judges and Actuaries.
- Senators and National Representatives.
- Municipal Mayors and Mayors.
- Ediles of the Departmental Boards.
- President, Vice-President, Directors of Autonomous Entities and Decentralized Services.
- Generals of Land, Sea and Air of the Armed Forces.
- Chiefs, Deputy Chiefs, Inspectors and Directors of the National Police.
- State representatives on the boards of parastatal organizations and in mixed economy companies.
- Holders in Embassies, Consular Representations and International Organizations.
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Duration of PEPs
When politically exposed persons have ceased to perform their functions, the obliged entities will continue to apply the measures provided for this type of clients for a minimum period of five years.
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Included lists
PEPs
- Web oficial de la República Oriental del Uruguay