Executive session
LFPIORPI in the real estate and automotive sector: what the law really requires - and how to prove it
The most common selling process in these two sectors is also the most advanced and this session explain why and what to change.
The real estate and car sector are two of the most important money-laundering sectors in Mexico - for the value of operations, the possibility of using cash and the ease of applying illicit resources through an apparently legitimate sale. LFPIORPI and most of the sector has yet to solve what the law requires.
Photography or photocopying an identification is the most common practice. But photographing a credential isn't the same as validating an identity. The regulator doesn't expect someone to have requested a credential - expects you to prove that you checked who that person was, that the document was true and valid, that you crossed it onto risk lists and that that was fully documented to hold onto an audit.
Dr. David Merino, Compliance Officer of the Mexican Association of Real Estate Professionals, develops at this session what activities they describe as vulnerable, from what monetary thresholds they apply obligations, who's the bound object within the organization - and why that responsibility lies with a specific individual, not with the company as an abstract entity.
The LFPIORPI requires keeping the complete file for 10 years with demonstrable integrity. The money-laundering research cycles are long. A closed operation today may be the subject of a reconstruction request within four years.
Solutions JAAK for this topic
What you describe at this session, JAAK It's been solved.
Reported identity, cross-lists, sealed file
Valid validity, authenticity and cross PEP, SAT and OFAC The result remains with demonstrable integrity - ready to preserve 10 years.
See solution →The digital file that requires LFPIORPI
Legal maintenance low NOM-151 with a time stamp. Your file can be rebuilt 10 years later and resists any audit of UIF or SAT.
See solution →What you'll learn in this session
- 1At what exact time of a sale will the client's identity come into play - and why that moment's rarely well documented
- 2Why photo a credential doesn't fulfill what law requires - and what it does fulfill
- 3What activity they call vulnerable in real estate and automobile and from what amount they apply their obligations
- 4Who's an obligation within your company and what personal responsibility that figure entails
- 5What are the three lists that you have to cross before closing any operation: PEP, SAT and OFAC
- 6What's the difference between validating validity, authenticity and lists - there are three different validations and most only do a
- 7What have to contain a digital file so that it's justifiable evidence and not just files
- 8Why the law requires keeping the file 10 years and what happens when the authority asks to rebuild an operation of years ago
Index of themes
Click a theme to expand
presenters
Dr. David Merino
Doctor of Law. Compliance Officer, Mexican Association of Real Estate Professionals (AMPI). Founding of Top Compliance. Training by FATF, UNI and the FBI. Specialist in money laundering prevention and digital regulation.
Arianna quezada
CEO of JAAK100% Mexican company specialized in digital identity, biometric monitoring, electronic signature and auditory archives for the real estate, automotive and financial sector.
Your client file holds 10 years of scrutiny?
The law isn't gonna ask for what happened today. JAAK Building the digital file with the integrity required by the authority - from first operation.
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