On January 30, 2026, the CMF published Circular No. 2,368, which came into force on the same day, updating the regulations applicable to the prevention of money laundering, terrorism and proliferation of weapons of mass destruction, in line with Circular No. 62 of the Financial Analysis Unit (“UAF”).
This Circular standardizes compliance models, strengthens crime prevention and control measures, in order to unify the requirements established by the FAU through Circular No. 62.
In this regard, it amends banking regulations, specifically Chapters 1-7 (Electronic Transfer of Information and Funds), 1-13 (Management and Solvency), 1-14 (Prevention of ML/FT) and 1-16 (Transactions with Politically Exposed Persons) of the Updated Compilation of Rules (“RAN”).
With respect to the Compliance Officer, it is required to have such Officer and that he/she has access to the corresponding operations and documentation.
Regarding Suspicious and Cash Transactions, there is an obligation to analyze them in a traceable manner and report them, including deposits in bank accounts.
The Due Diligence and Know Your Customer (“CDD”) processes are also strengthened, including clarifications on the identification of the beneficial owner and the treatment of politically exposed persons (“PEPs”).
In relation to electronic fund transfers, a distinction will be made between cross-border and domestic transfers in transactions equal to or greater than one thousand US dollars.
The purpose of this Circular is to strengthen the regulatory framework applicable to the auditees, aligning it with the requirements of the FAU and compliance standards in terms of ML/FT/PF prevention.
