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How is the confidentiality of information collected about clients identified as PEP in El Salvador ensured during the internal audit process?
Additional security measures and restricted access to information are established to ensure confidentiality during the internal audit.
How is the relationship between money laundering and corruption addressed in Paraguayan legislation?
Paraguayan legislation addresses the relationship between money laundering and corruption, recognizing that both crimes are interconnected. Engaging in corrupt activities can generate illicit funds that are prone to money laundering. Law No. 1015/97 against Money Laundering or Other Assets includes provisions that consider corruption as a crime underlying money laundering. The regulation seeks to prevent, detect and effectively prosecute the relationship between these two crimes, strengthening the country's capacity to address corruption and money laundering together.
What is the importance of evaluating credit risk management in investment due diligence in the microfinance sector in the Dominican Republic?
Assessing credit risk management in investment due diligence in the microfinance sector in the Dominican Republic is essential to understanding loan portfolio quality, credit risk assessment, and protection of microcredit investments. This ensures the financial sustainability of microfinance institutions.
Are there any notable cases in Costa Rica where lack of KYC compliance has had significant economic consequences?
Yes, cases of failing to comply with KYC have led to financial penalties and loss of reputation for companies, underscoring the importance of adhering to these practices to avoid negative consequences.
What role does training play in preventing errors and violations in risk list verification processes in Peru?
Training is essential to prevent errors and violations in risk list verification by ensuring staff are informed of procedures, regulations and best practices. Training reduces the likelihood of errors and ensures proper compliance.
How is remote work or teleworking regulated in Paraguay?
Remote work or teleworking in Paraguay is regulated by Law No. 6,436/2020, which establishes the rights and obligations of both employers and workers who perform their duties remotely.
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