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How are situations where a client refuses to provide certain documents or information handled during the KYC process in Colombia?
In these situations, Colombian institutions must follow established procedures. This may include clearly explaining the need for the information, offering alternative options for verification and, in extreme cases, assessing the risk of continuing the business relationship if the information is crucial for regulatory compliance.
What happens if a person or company sells seized assets in Guatemala?
If a person or company sells seized goods in Guatemala without the corresponding authorization, they may face additional legal consequences. The sale of seized property without authorization constitutes a violation of the court order and may result in additional sanctions, fines or even criminal actions for contempt of authority. Additionally, the proceeds from the illegal sale of seized property may be subject to confiscation and used to cover outstanding debt.
What is the penalty for violation of the data protection law in El Salvador?
Violation of the data protection law is punishable by prison sentences and fines in El Salvador. This crime involves the unauthorized access, use or disclosure of protected personal information, which is sought to be prevented to safeguard the privacy and security of individuals.
What is the role of the National Superintendence of Customs and Tax Administration (SUNAT) in regulatory compliance in tax matters in Peru?
SUNAT is responsible for tax collection and inspection in Peru. Its role in regulatory compliance involves the collection of tax revenue, the fight against tax evasion and fraud, and the promotion of tax culture.
How can companies promote compliance reporting in the Dominican Republic?
Promoting whistleblowing involves providing safe, anonymous channels for reporting violations of ethical or legal standards, along with policies that prohibit retaliation against whistleblowers.
What is the El Salvador Stock Market?
The El Salvador Stock Market is a space where securities, such as stocks and bonds, issued by companies and the government are traded. It allows investors to buy and sell these securities, providing investment and financing opportunities for companies and government entities.
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