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CITY OF MEXICO (THE UNIVERSAL) .- From the month of August, banks and other financial institutions that participate in the interbank electronic payment system (IPSP) and which provide a transfer service of funds need to strengthen security measures with virtual assets, ordered the Bank of Mexico (Banxico).
The announcement is made after July 7 lit the alert for the attempted cyberattack against Bitso, a technology platform specializing in cryptocurrency transactions.
In announcing new conditions to participate in the SPEI, to strengthen policies and controls on remittances, he said that it would be necessary to enforce the anti-money laundering law virtual assets. Two circulars have decreed that they will have to identify, with their clients, subjects other than financial entities that offer, in a usual and professional way, virtual exchanges or purchases-sales of assets.
In other words, they will have to comply which is established in Article 17, Section XVI, of the Federal Law for the Prevention and Identification of Operations with Resources of Illegal Origin, which establishes, among other things, "means to keep, store or transfer virtual assets other than those recognized by the Bank of Mexico under the Financial Technology Institutions Regulation Act. "In the case of customers who operate with virtual assets, banks can only hold accounts corresponding to open money deposits, open in credit institutions, popular finance companies, community financial companies, savings and credit cooperatives or, for which the SPEI Participant collects the same documentation and identification data as the general provisions for Level 4 accounts offered by such institutions.
They shall Refrain from opening such accounts to these clients, in turn they can offer their users the sending or receiving of funds transfers through the SPEI. [19659002] As well as in the anti-money laundering law, in which there is a compliance officer to prevent and identify the financing of terrorism, now the banks and other participants of the SPEI and the Money transfers must have an information security officer.
STRATEGY OF FACT
Banks and financial institutions will have to identify their customers who offer purchase or sale of cryptocurrencies.
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