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What is the economic impact of PEP regulations on Mexico's financial system?
Although regulations can increase compliance costs for financial institutions, they also help strengthen the integrity of the financial system and promote foreign investment by reducing the risk of corruption.
What regulations apply to transactions in the stock market in the Dominican Republic to prevent money laundering?
Specific regulations apply to securities market transactions, including due diligence in customer identification
What is Mexico's participation in the international arena in terms of cybersecurity?
Mexico participates in the international arena in terms of cybersecurity through collaboration with other countries and organizations, the exchange of information and best practices, and the contribution to global initiatives to strengthen cybersecurity and combat cybercrime worldwide.
How are specific risks related to money laundering in the gaming sector in Argentina addressed?
In the gaming sector in Argentina, specific measures are implemented to address money laundering risks. Gambling companies are required to conduct rigorous due diligence in identifying their customers, reporting unusual transactions and applying robust internal controls. Furthermore, regulation prohibits certain practices that could facilitate money laundering, and active supervision by the FIU helps maintain the integrity of the sector.
How has Argentina responded to the latest updates to international regulations related to KYC?
Argentina has proactively responded to updates to international regulations related to KYC. Financial institutions and the regulatory body have worked together to adapt local practices and policies, ensuring consistency with international standards and thus strengthening the country's position in the fight against money laundering and terrorist financing.
How can companies assess and manage non-compliance risk in the Dominican Republic?
Non-compliance risk assessment and management involves identifying risks, assessing their impact and likelihood, implementing mitigation measures, and continuously monitoring to ensure that risks remain under control.
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