- Oct 8, 2013
When did Ley 8204 become effective? Law 8204 is the drug control law, Jan 11, 2002.This was published 2 December 2010. This regulation is in order for financial institutions to be in compliance with ley Nº 8204. BCR is regulated by SUGEF and will have to comply with these regs. but how you would have to ask BCR.
What is under discussion is the regulation issued by SUGEF, the financial regulator. 12-10 SUGEF REGULATIONS FOR ENFORCEMENT of LAW 8204.
SUGEF has adopted a policy of "know your customer" not unlike what the US Federal Reserve requires in the USA.
Artículo 8. Información mínima del cliente persona física
The individual client record must contain a minimum of customer identification by a current copy of the national identity card for nationals, full passport for non-resident aliens and foreign residency card for residents in the country. the Policy should detail additional requirements and identification methods to be met for foreign residents and non-residents to open an account.
The customer's file should include the following :
a) Date of opening the account , product or service.
b ) Client code (if any) .
c) Full Name.
d ) Nationality ( s) , date and place of birth ( indicating the country ) .
e) Status .
f) Sex (M) or (F).
g ) Exact address of the permanent residence (indicated by compass points including province, county , district and other specific signs and physical characteristics of the address) .
h ) E-mail address .
i) Phone and fax .
j ) Profession and occupation .
k ) Employer's name, or the nature of their business if you develop independent activities.
l) Determine if the customer is a politically exposed person ( PEP ) .
m) Purpose and nature of the business relationship.
n )Description of the source or origin of funds warrant transactions to perform, for example : wages , fees, business operations , inheritance , income , among others, which should be supported by public information databases, employers orders , certifications of income , proof of salary, list of employers , and others.
You can find the full text (in Spanish of course) at the link:
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