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What is the frequency with which financial institutions in Costa Rica must update the information of their PEP clients?
Financial institutions in Costa Rica must regularly update the information of their PEP clients. The frequency may vary, but it is recommended to do so at least annually and when significant changes occur in the client's political position.
Do background checks in Ecuador consider illegal possession or trafficking of cultural or historical property?
Yes, illegal possession or trafficking of cultural or historical property can be considered in background checks in Ecuador, especially if it is related to criminal activities. Review of property and transaction records may be part of the evaluation process.
What are the rights of children in cases of void marriage in Brazil?
In cases of void marriage in Brazil, children have the same rights as children from valid marriages. They have the right to recognized parentage, alimony, inheritance and other rights and benefits that correspond to legally recognized children.
What is the main purpose of AML laws in El Salvador?
The main objective is to prevent money laundering and terrorist financing, ensuring that financial institutions and other entities take measures to prevent these illicit activities.
Are international investigations carried out in cooperation with other countries to combat corruption and money laundering related to Politically Exposed Persons in Costa Rica?
Yes, Costa Rica participates in international cooperation efforts to combat corruption and money laundering related to Politically Exposed Persons. There are agreements and cooperation mechanisms with other countries and international organizations for the exchange of information, mutual legal assistance and the execution of joint investigations. These collaborations seek to strengthen the capacity to detect, prevent and sanction illicit practices involving PEPs at a global level.
How is regulatory compliance and effective application of legislation ensured in due diligence in El Salvador?
Clear and proportional sanctions are established for financial institutions that do not comply with due diligence standards and procedures.
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