On Apr. 3, 2025, CHL FIU has published Circular 62 of Mar. 19, in the Official Gazette.
On Mar. 20, CHL FIU has systematized and updated instructions.
CHL FIU issued Circular 62, which systematizes and updates instructions applicable to individuals and legal entities conducting any of the 55 economic activities supervised.
The Updated Compilation of Standards (RAN) contains all the matters that reporting entities are obliged to comply with as referred to in Article 3, para. one of Law 19.913.
Circular 62 repeals most predecessors, bringing together instructions and obligations.
From Jun. 1, firms must identify the final beneficiaries or owners of their clients, legal entities or legal structures, except for pension fund administrators (AFP) and casinos.
They also must understand and assess their ML/TF/FP risks and, based on these, apply simplified or enhanced due diligence measures to their clients to mitigate them.
As well as to document the analysis of suspicious transactions, as well as the actions taken and the sources of information consulted, justifying their submission to CHL FIU.
RAN is adding categories to the list of individuals who must be classified as Politically Exposed Persons (PEP): municipal councilors, administrators, directors of public works.
First-instance judges; presidential delegates, regional councilors, regional ministerial advisors; consuls; high-ranking officers of the Armed Forces and Security Forces.
Deputy prosecutors; national economic prosecutor; as well as regional comptrollers.
Effectiveness
Circular 62 will enter into force on Jun. 1, 2025, Fintech Travel Rule on Jul. 1, 2025.
Circulars 6, 7, 11, 12, 16, 17, 18, 19, 34, 35, 40, 42, 46, 47, 49, 52, 53, 54, 55, 56, 57, 58, 59, 60, will be in force until May 31, 2025, subject to inspection until that date.
Apr. 3, 2025 CHL FIU Official Publication
On Apr. 3, 2025, CHL FIU has published Circular 62 of Mar. 19, in the Official Gazette.
Regulators
CHL FIU
Entity Types
B/D; Bank; BS; Corp; IA; Ins; Inv Co; MSB
Reference
OG, 4/3/2025; PR, Res 62, 3/20/2025; Cir 62, 3/19/2025
