Introduction
The issue that is dealt with in this document is regarding the purpose of the Federal Law for the Prevention and Identification of Operations with Resources of Illicit Origin, the obligations that must be fulfilled by individuals or legal entities that carry out activities that in accordance with the aforementioned Law are considered vulnerable, what type of operations are reported to the Secretary of Finance and Public Credit and sanctions in case of non-compliance.
Background
Money laundering is a practice that has existed since the sixties, many of the great fortunes that have amassed at home and abroad, businessmen and personalities that enjoy impeccable reputations, and others for inexplicably have been enriched overnight, in the various economic and social spheres, business, political, labor, to name a few, many of them are derived from illicit enrichment, by activities of criminal organizations, obtained by officials for mismanagement of Public, political resources that have improperly benefited from their positions.
The proliferation of criminal organizations that have intensified their criminal activities in the country, dedicated to drug trafficking, extortion, kidnapping, human trafficking, have generated profitable profits for these criminal groups, which has allowed them to strengthen and expand their structure, growing in Inordinate way, sometimes sheltered by the corruption and impunity in which they operate, which is why they have currently gone beyond the authorities to control and combat them to the extent of endangering the ungovernability and sovereignty of some states in the country.
Development
To try to prevent these criminal organizations from continuing to strengthen and finance themselves with these illicit resources, and to legally combat this crime, the decree by which it was published was published in the Official Gazette of the Federation on October 17, 2012. issues the Federal Law for the Prevention and Identification of Operations with Resources of Illicit Origin, commonly known as the law against money laundering, or anti-money laundering law, which entered into force on July 17, 2013; as established in the First Transitory article, that this law shall enter into force nine months after the day of its publication in the Official Gazette of the Federation, and the regulation entered into force on the 1st. September 2013.
The aforementioned law in its article 2 establishes its object:
Article 2. The purpose of this Law is to protect the financial system and the national economy, establishing measures and procedures to prevent and detect acts or operations that involve illicit resources, through inter-institutional coordination, whose purpose is to collect useful elements. to investigate and prosecute the crimes of operations with resources of illicit origin, those related to the latter, the financial structures of criminal organizations and avoid the use of resources for their financing.
Vulnerable activities are considered those acts, operations or services performed by financial entities, established in article 14 and those activities considered in article 17 of the law in question.
In the administrative field, the competent authority to apply the law in question and its respective regulation, is the Secretary of Finance and Public Credit, who is empowered to receive and request the information, as well as coordinate with other authorities for the prevention of crime and When information or conduct that may constitute a crime in this matter is detected, file the corresponding complaint with the federal public prosecutor's office.
Financial Institutions, companies, businessmen, notaries public, public brokers, and customs agents among others, who carry out vulnerable activities, are obliged to present reports to the Secretary of Finance and Public Credit and deliver information and documentation of operations with their clients, the acts and operations considered vulnerable, when they are equal to or exceed the amounts established in the DF's minimum wages, identify their clients, as well as keep the documentation, either physically or electronically, for ten years, in the case of financial and five years for the activities regulated in article 17 of the law.
Those who provide real estate construction services, transmit or sell properties, are obliged to report when the value is equal to or greater than 8,025 times the minimum wage. Those who sell new or used land, air or sea vehicles whose value is equal to or greater than 6,420 times the minimum wage.
Financial entities are obliged to report operations carried out with service or credit cards when the monthly expense is equal to or greater than 1,285 thousand two hundred and eighty-five minimum wages currently equivalent to $ 80,094.05 pesos.
Notaries are obliged to report the transfer and constitution of rights over real estate, the granting of irrevocable power of attorney for the administration and ownership of property, the constitution of companies and capital increases, when the amounts are equal to higher than established.
Customs agents are obliged to report, through the dispatch of vehicles, land or air maritime, machines for games or bets, whether new or used, machinery armor for vehicles, regardless of the value of these goods. It will also report jewelry, watches, precious metals equal to or greater than 485 times the DF minimum wage, works of art equal to or greater than the value of 4,815 times the minimum wage.
The aforementioned activities are just some of the activities considered vulnerable that those who do it are obliged to report.
Failure to comply with the obligations established in the law against money laundering is sanctioned administratively, economically and with cancellation of authorizations and permits granted by the Ministry of Finance and Public Credit and in some cases even criminally, administrative sanctions are 500 days of SMG DF (equivalent to $ 31,165.00) up to 65,000 days of the Federal District's minimum wage (equivalent to $ 4,051,450.00) and corporal punishment of four to ten years in prison.
The application of the law against money laundering, also has an economic impact for those obliged to provide information for the costs incurred to generate, control, store, preserve and forward information on operations to the Ministry of Finance. carried out considered vulnerable.
Conclusions
The entry into force of the Federal law for the Prevention and Identification of Operations with Resources of Illicit Origin, represents administrative and economic burdens for taxpayers to comply with, however the question that exists in this regard is whether this law will end the laundering of money, from criminal and corrupt operations, and whether it will contribute to decrease crime rates and insecurity that are experienced in the country or are actions taken to justify fighting crime, or will corruption continue as always in the authorities in charge of the administration of justice, which protect criminals and are participants in crimes regardless of the safety of citizens and the country.
We want to believe that things will change for the better and that this law will have will bring benefits to citizens and not only damages and obligations, but over time we will be able to evaluate the results obtained.
References
- Federal Law for the prevention and identification of operations with resources of Illicit origin. Published in the DOF of 10/17/12. MONEY LAUNDERING.- Conceptual theoretical study, comparative law, international treaties and the new law on the matter in Mexico.- Mtra. Claudia Gamboa Montejano / Lic. Sandra Valdez Robledo.
