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What is internal control and how does it contribute to the prevention of money laundering in El Salvador?
Internal control refers to the procedures and controls implemented by an entity to ensure the efficiency, integrity and regulatory compliance of its operations. In El Salvador, solid internal control contributes to the prevention of money laundering by establishing policies and controls that allow suspicious transactions to be detected and reported, ensure the veracity and accuracy of financial records, and promote responsibility and transparency in operations.
Is it mandatory that a sales contract in Panama be made in writing?
In Panama, not all sales contracts need to be written, but it is advisable to document them in writing to avoid future disputes.
What are the laws against corruption in Costa Rica?
Costa Rica has specific laws against corruption, such as the Law against Corruption and Illicit Enrichment in Public Functions. These laws establish penalties for public officials who engage in corrupt acts, including prison sentences and substantial fines.
How can businesses in the Dominican Republic maintain proper records and documentation to comply with regulations?
Maintaining proper records involves maintaining financial, legal and business documents, as well as implementing records management systems that comply with specific regulations.
How has the COVID-19 pandemic impacted the KYC process in Mexico?
The COVID-19 pandemic has accelerated the need for online and contactless KYC processes in Mexico. The limitation of physical interactions has driven financial institutions to adopt digital technologies to maintain the continuity of their operations and ensure the security of customers.
How does the State guarantee that identity validation procedures are efficient and agile for citizens in El Salvador?
The State can establish simplified and agile procedures for obtaining and verifying identity documents.
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