Costa Rica News – There is a new anti-money laundering law that imposes fines on certain populations that fail to alert the DCI of dubious operations of its customers.
Notaries, jewelers and accountants are among those now mandated to report.
Real estate agents, traders, casinos, lawyers, issuers of credit, and brokers must also require customers to provide information on the source of funds. Notaries must register how property sales were paid. Even non-profits are to report money sent or received from at risk countries.
The Costa Rican Drug Institute receives the reports of suspicious funds. Those who must report are to do so as soon as possible when they suspect that their clients are paying for operations with money of irregular origin.
The amendment was approved on May 10 in the plenary of Congress, under the legislative file 19.951, which establishes a whole series of obligations for non-financial professional activities as well.
The aim of this amendment is to improve and increase the number of tools against money laundering, financing of terrorism and the proliferation of weapons of mass destruction.
