12/12/2019 - Update of the guidance for the application of restrictive measures

Guia aplicacio 6 7You can now find, in the “restrictive measures” section, a new version of the guide for the application of restrictive measures according to FATF Recommendations 6 and 7. This new version is updated in line with the legislation in force in terms of AML/CFT and the current International standards, and replaces the February 2017 version. The main novelties include, among others, the formalisation of the procedures to request the modification and/or lifting of restrictive measures and to request an exclusion from the List. The corresponding forms are available in the “forms” section.

We take this opportunity to remind all reporting entities of the need to implement effective procedures to detect designated persons and entities in the lists which are referenced in the guide and, in case of a match, to immediately apply restrictive measures against that person or entity (mainly the termination of the provision of a product or service or freezing the funds), as well as the communication of this fact to the UIFAND using the corresponding forms available in the “forms” section. This procedure differs from the one that must be applied whenever a suspicion of ML or TF arises, in which its own specific form must be used and no further measures of a restrictive nature are required.