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How is ongoing due diligence addressed under KYC under Panamanian law?
Panamanian legislation addresses ongoing due diligence under KYC by requiring financial institutions to regularly update their customer information and conduct periodic reviews of risk profiles. This ensures that information is kept up to date and that appropriate prevention measures are applied throughout the business relationship.
What are the tax implications for the creditor after the auction of seized assets in Chile?
The creditor may be subject to taxes on capital gains resulting from the auction of seized property.
How is identity verified in the pension application process in Panama?
Pension applicants in Panama must verify their identity and meet the requirements established by the Social Security Fund to receive retirement benefits.
How is joint possession established in divorce cases in Argentina?
Shared custody in divorce cases in Argentina can be established by mutual agreement of the parents or by court decision. The court will evaluate whether shared custody is beneficial for the well-being of the child, ensuring active participation of both parents in upbringing.
What is the extradition process of a Chilean citizen from abroad?
The extradition of a Chilean citizen from abroad is possible, but there are specific legal restrictions and procedures.
What is the relationship between money laundering and the informal economy in Mexico?
Money laundering and the informal economy are linked in Mexico, as illicit funds can infiltrate unregulated activities, such as street trading and undeclared work. The fight against money laundering also seeks to reduce the informal economy and improve tax collection.
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