SPARLAFTD for Factoring Companies in Ecuador

AML/CTF Compliance for the Factoring Sector

Factoring companies purchase invoices and accounts receivable, exposing them to transactions that can conceal illicit funds. Líderes APLA designs their SPARLAFTD around the volume of receivables traded, the originating sectors, and the profile of the assignors.

Critical Elements

• Due diligence on assignors and debtors within the portfolio.
• Red flags on invoices or receivables of questionable origin.
• Risk matrix by originating economic sector.
• Training for the Compliance Officer on reporting unusual transactions.

Implementation and UAFE reporting

Implementing the SPARLAFTD in this sector is governed by the Organic Law for the Prevention, Detection and Combat of Money Laundering and by UAFE resolutions. As part of our AML/CTF Consulting, we deliver the risk matrix, the prevention manual, Compliance Officer training and support in filing RESU and ROS reports. Request an assessment for your organization.