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How is active customer participation promoted in the KYC process in the Dominican Republic?
Active customer participation in the KYC process in the Dominican Republic is promoted through education and awareness. Financial institutions must inform customers about the importance of KYC in preventing money laundering and terrorist financing. This may include disclosing KYC policies and procedures, as well as explaining why certain information is required. Customers should also be encouraged to notify financial institutions of any changes to their personal or financial situation that may require an update of their KYC information. Active customer engagement is critical to ensuring KYC information is up-to-date and accurate, helping to prevent illicit activities.
What is the impact of interest rates on bank loans and deposits in Costa Rica?
Interest rates affect both loans and bank deposits in Costa Rica. An increase in interest rates may result in a higher cost of borrowing, which may discourage demand for credit. On the other hand, higher interest rates can provide higher returns on time deposits and savings accounts, incentivizing savings.
How is the seizure of assets regulated in Guatemala in cases of debts derived from information technology service contracts?
The seizure of assets in Guatemala for debts arising from information technology service contracts is governed by the Civil and Commercial Procedure Code and the contract and information technology laws. Technology companies can request the seizure of the debtor's assets in case of non-payment. It is essential to follow legal procedures, properly notify the debtor, and obtain the appropriate court order to ensure the legality of the seizure.
What is the role of due diligence in assessing risks associated with cybersecurity in the financial services sector in Argentina?
In the financial services sector, due diligence must address cybersecurity. The effectiveness of protection systems against cyber threats must be evaluated, as well as the ability to recover after possible security breaches. Additionally, it is crucial to review compliance with specific regulations of the financial sector in Argentina related to information security.
Is there a way to modify a child support order in Mexico?
Yes, it is possible to modify a child support order in Mexico if the financial circumstances of the parties involved change. This could include an increase or decrease in the debtor's or beneficiary's income, changes in the beneficiaries' needs, or any other situation that warrants a review. To do so, an application must be made to the court that issued the support order, and the court will evaluate the evidence and determine whether a modification is warranted.
Does the State have provisions to adjust support obligations in Paraguay in the event of significant changes in the financial situation of the parties involved?
Yes, in Paraguay, the State may have provisions that allow adjustment of support obligations in the event of significant changes in the financial situation of the parties involved. This may include periodic reviews to ensure that obligations are proportionate to the financial capacity of the debtor.
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