They Facilitate UIF and SAT Compliance with Anti-laundering Law.
In recent days, the Financial Intelligence Unit (UIF) and the Tax Administration Service (SAT), issued a statement on their official website, through which they announce as a consequence of the health contingency by COVID-19, the implementation of an anti-laundering self-regulation programme, in which the following is reported:
To the extent possible, it is reported that the UIF and the SAT will continue to work to support those carrying out Vulnerable Activities in the fulfilment of their money laundering prevention obligations, for the duration of the contingency arising from COVID-19.
However, these authorities request that those who carry out Vulnerable Activities in terms of article 17 of the Federal Law for the Prevention and Identification of Operations with Resources of Illicit Origin, known as the Anti-laundering Law, to document any event that might cause the delay in the submission of the notices, with the aim that, if applicable, may request the SAT to authorize the implementation of a Self-regularization Program that includes acts or operations carried out from March 1, 2020 and until the completion of preventive measures determined by the Government of Mexico derived from the health contingency of COVID 19.
Similarly, the UIF and the SAT urge that in the event that they have information on irregularities that they detect related to the COVID-19 contingency, they send it to e-mail firstname.lastname@example.org.
In Bandala | Díaz | García, we continue to operate, we continue to inform our clients and general public, so if you carry out vulnerable activities and you cause confusion this self-correcting program, Come with us and we will gladly offer you the corresponding advice.