Anti Money Laundering Law - Limitations to Cash Payments


Publicado en Sábado, 07 Julio 2018

Anti Money Laundering Law – Limitations to Cash Payments

 

Cash is the most common way to pay since its use is the simplest. There is no need to use technology nor intermediaries. The transactions in cash are not registered in any way and are pretty much impossible to track down. And this is why, for the laws related with money laundering all around the world, the use of cash is highly risky.

 

In the case of Mexico, for the before-mentioned reasons, the Anti money laundering establishes limits to cash payments. Limits that, if are not complied with, carry with them really high fines. That is why you must have some knowledge about the regulations in terms of Anti Money Laundering in order to avoid the no-compliance.

 

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Real Estate Brokers – Subjects to the Anti-Money Laundering Law


Publicado en Martes, 29 Mayo 2018

Real Estate Brokers – Subjects to the Anti-Money Laundering Law

 

As follow up of what has been written here in past entries , the Anti-Money Laundering Law classifies a number of activities considered as vulnerable. Among these, the Real Estate Brokers are obligated to the compliance of this Law.

 

According to this Law, it is considered as a vulnerable activity “the common or professional provision of services of intermediation in the transmission of property, or constitution of rights over real estate, in which operations of purchase and sell in favor of the clients that they represent are conducted”.

 

In a zone such as Puerto Vallarta, a very renowned touristic attraction in Mexico, the real estate brokers are especially important since they promote the investment in real estate. Because of this they need to be conscious of the repercussions that the Anti-Money Laundering Law has in the Real Estate Market.

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What obligations does a person subject to the anti-money laundering law have?


Publicado en Lunes, 28 Mayo 2018

What obligations does a person subject to the anti-money laundering law have?

 

After determining if we are subjects to the Anti-Money Laundering Law, the next step is to understand that there are obligations that need to be complied with. Each vulnerable activity has different obligations, but there are obligations established in the Anti-Money Laundering Law that apply to all the subjects, which are the ones that we will learn about in this article.

 

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Entities in start-up stage


Publicado en Jueves, 26 Abril 2018

Entities in start-up stage

As an analogy with human life, the start-up stage in companies could be defined as the phase since its birth up to the moment when an individual is able to walk by himself. In companies, the start-up stage ends when the company begins to have recurrently income, meaning that it starts to operate and obtain resources in conformity with the principal activity; therefore according on the type of industry or activity, the start-up stage could terminate immediately after the constitution date or could take several years for its completion.

 

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Vulnerable Activities – How to know if you are subject to the Anti-Money Laundering Law?


Publicado en Jueves, 18 Enero 2018

Vulnerable Activities – How to know if you are subject to the Anti-Money Laundering Law?

 

On the last article we talked about the creation and implementation of the Anti-Money Laundering Law in Mexico. Now we will focus in understanding how to know if we are subjects to the Anti-Money Laundering Law in Mexico or not.

 

In order to determine who subjects to this law are, the law itself includes a list of what it refers to as “Vulnerable Activities”. There are 15 vulnerable activities, and even if the simple fact of doing any of them does not mean that one has to comply, it is important to know what those activities are.

 

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