Peru: Deadline for submitting LAFT reports fast approaching

28 Jan 2025    2 minute read

In brief

We would like to remind you that natural and legal persons that qualify as "Obligated subjects" (SO) and are required to report to the Financial Intelligence Unit of Peru (UIF-Peru) in matters of prevention of money laundering and financing of terrorism (LAFT) must comply with the following reporting obligations:

  1. Prepare an Annual Report of the Compliance Officer (IAOC)[1] or a Semiannual Report of the Compliance Officer (ISOC),[2] as appropriate, by means of which they should report to the FIU-Peru on compliance with the policies and procedures that make up their MLFT prevention system during the respective annual or semiannual period.
  2. Prepare an Internal Audit Report (IAI), to be completed by the person in charge of the SO's internal audit function or, if it does not have one, by a manager or officer of equivalent position (other than the compliance officer). This report should consist of a self-assessment on the operation of the components of the MLFT prevention system in the last annual period.

Contents

In relation to these reports, the following deadlines and instructions must be complied with:

  • Until 30 January 2025: The IAOC or ISOC, as well as the IAI, must be submitted to the SO's board of directors or an equivalent body, or, in its absence, to its general manager, for their respective approvals.
  • Until 17 February 2025: The IAOC or ISOC must be sent to the UIF-Peru through the Portal for the Prevention of Money Laundering and Terrorism Financing (plaft.sbs.gob.pe) and, if applicable, to their respective supervisory bodies. The IAI must be sent as an annex to the corresponding IAOC or ISOC.

It should be noted that failure to prepare and submit these reports constitutes a serious administrative infraction, which may result in the imposition of fines between 2 UIT (PEN 10,700) and 20 UIT (PEN 7,000), as established in the Regulation of Infractions and Penalties in the Prevention of MLFT, approved by SBS Resolution No. 8930-2012 and its amendments.

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We hope this information is of relevance to you and your company. Please do not hesitate to contact us if you require any advice in this regard.

1 Rule applicable to SOs under the scope of SBS Resolution No. 789-2018, which includes those engaged in the marketing of machinery and equipment, jewelry trade, mining companies, vehicle purchase and sale, construction and real estate, loans or pawning, and nonprofit organizations, among others.

2 Rule applicable to SOs indicated in SBS Resolution No. 2794-2019, including those engaged in the exploitation of remote gaming or sports betting via the internet, commercialization of chemical inputs and controlled goods, as well as commercialization of weapons, ammunition and explosive materials, among others.

Click here to access the Spanish version.

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