On Mar. 13, BRZ FIU amended anti-money laundering standards.
BRZ FIU reported National council of justice amended anti-money laundering standard.
Amendments were spurred from last round of mutual evaluation of the Brazilian AML/CTF system that was conducted by the FATF-GAFI in Oct 2023, see rule #196003.
Amendments
National council of justice (CNJ) published Provision No. 161, of Mar. 11, 2024, to update provisions on duties to prevent money laundering and financing of terrorism.
Proactively acted to implement the new standard, which brings as main improvements the review and update of communications frameworks between BRZ COAF, BRZ FIU.
Also updated procedure on monitoring, selection, analysis of occurrences that can be reported to COAF, strengthening internal controls for activities carried out by notaries.
Effectiveness
The amended standards come into force on May 2, 2024.
