{"id":19475,"date":"2016-11-03T22:16:31","date_gmt":"2016-11-04T04:16:31","guid":{"rendered":"http:\/\/www.bashamhost.co\/Blog\/?p=532"},"modified":"2016-11-03T22:16:31","modified_gmt":"2016-11-04T04:16:31","slug":"financial-intelligence-units-interpretation-on-outsourcing-services","status":"publish","type":"post","link":"https:\/\/basham.com.mx\/en\/financial-intelligence-units-interpretation-on-outsourcing-services\/","title":{"rendered":"Financial Intelligence Unit\u00b4s Interpretation on Outsourcing Services"},"content":{"rendered":"<p>Recently, the Mexican Financial Intelligence Unit (\u201cUIF\u201d for its acronym in Spanish), of the Treasury Ministry issued an interpretation regarding Outsourcing services. The UIF considered Outsourcing Services as a Vulnerable Activity under the Federal Act to Prevent and Identify Illegally-Funded Transactions (\u201cAct\u201d)<br \/>\nAccording to the referred interpretation, the render of independent professional services, on behalf and in representation of the client, for the administration and\/or management of resources of the contracted service, is considered as Vulnerable Activity pursuant the Act.<br \/>\nAs been considered as Vulnerable Activity, the operations of companies providing Outsourcing services, shall be subject of identification and report\/notice, as established in the Act; highlighting that the identification as well as the report of the activities, shall be perform without exemptions, since there is no threshold provided by the Act.<br \/>\nNotwithstanding the foregoing, several opposite criteria derives from the Interpretation issued by the UIF, regarding if shall be subject to the referred provision, those companies that belongs to a Corporate Group and render its professional outsourcing services to another company of the same Corporate Group.<br \/>\nExperts on Administrative and Anti-Money Laundering Law are available to any further query or comments that may arise to the above.<br \/>\n&nbsp;<br \/>\n&nbsp;<br \/>\n<strong>\u00a0<\/strong><br \/>\nSINCERELY<br \/>\n&nbsp;<br \/>\n&nbsp;<\/p>\n<table border=\"0\">\n<tbody>\n<tr>\n<td>Daniel Del Rio Loaiza<\/td>\n<td>delrio@basham.com.mx<\/td>\n<\/tr>\n<tr>\n<td>Rodolfo Barreda Alvarado<\/td>\n<td>rbarreda@basham.com.mx<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<br \/>\nMexico City, November 3rd 2016.<\/p>","protected":false},"excerpt":{"rendered":"<p>Recently, the Mexican Financial Intelligence Unit (\u201cUIF\u201d for its acronym in Spanish), of the Treasury Ministry issued an interpretation regarding Outsourcing services. The UIF considered Outsourcing Services as a Vulnerable Activity under the Federal Act to Prevent and Identify Illegally-Funded Transactions (\u201cAct\u201d) According to the referred interpretation, the render of independent professional services, on behalf [&hellip;]<\/p>","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","footnotes":""},"categories":[1301,1300,1264],"tags":[279,280,206],"class_list":["post-19475","post","type-post","status-publish","format-standard","hentry","category-administrative","category-anti-money-laundering-law","category-english","tag-administrative","tag-anti-money-laundering-law","tag-english"],"_links":{"self":[{"href":"https:\/\/basham.com.mx\/en\/wp-json\/wp\/v2\/posts\/19475","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/basham.com.mx\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/basham.com.mx\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/basham.com.mx\/en\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/basham.com.mx\/en\/wp-json\/wp\/v2\/comments?post=19475"}],"version-history":[{"count":0,"href":"https:\/\/basham.com.mx\/en\/wp-json\/wp\/v2\/posts\/19475\/revisions"}],"wp:attachment":[{"href":"https:\/\/basham.com.mx\/en\/wp-json\/wp\/v2\/media?parent=19475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/basham.com.mx\/en\/wp-json\/wp\/v2\/categories?post=19475"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/basham.com.mx\/en\/wp-json\/wp\/v2\/tags?post=19475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}