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How is the crime of discrimination based on sexual orientation addressed in Ecuador?
Ecuador has laws that criminalize discrimination based on sexual orientation, seeking to protect the rights of the LGBT+ community and promote equality and diversity.
What is capital extraction and how is it addressed in the prevention of money laundering in El Salvador?
Capital extraction refers to the illegal transfer of funds or assets out of the country to evade taxes, hide illicit profits or circumvent financial regulations. In El Salvador, measures have been implemented to prevent and detect illicit capital extraction, such as monitoring international transactions, cooperation with other countries and strengthening controls on exchange operations and transfers of funds.
What are the sanctions in Paraguay for non-compliance with KYC processes by financial institutions?
Sanctions for non-compliance with KYC processes by financial institutions in Paraguay may include fines and penalties.
How is a conflict of jurisdiction between judges in Ecuador resolved?
Resolution involves the intervention of higher authorities, such as appellate courts, to determine appropriate jurisdiction.
What is the responsibility of financial institutions and other entities in identifying and managing risk related to PEPs in Chile?
In Chile, financial institutions and other entities have the responsibility of identifying and managing risk related to Politically Exposed Persons (PEP). These entities are required to implement due diligence and control measures to prevent money laundering and terrorist financing.
Are there differences in KYC requirements for individuals and legal entities?
Yes, for legal entities it is required to identify the final beneficiaries and obtain additional documents, such as business registrations and powers of attorney.
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