On Tuesday, May 23 of this year, the law that “updates the crimes that punish organized crime, applies confiscation of profits and establishes special techniques for their investigation” was published in the Official Gazette, which, among other regulatory amendments, modifies Article 3 of Law No. 19,913, which creates the Financial Analysis Unit.

This article includes a series of natural and legal persons (among which are, for example, automobile companies and dealers of new or used vehicles and vehicle leasing companies) that will be considered as subjects under the supervision of the Financial Analysis Unit, the authority in charge of preventing money laundering and terrorist financing crimes, which implies new obligations for these obligated parties.

Barros & Errázuriz’s Compliance team developed a summary of the main proposals of this new regulation. Check it out here.