Key Terms in Regulatory Compliance in Ecuador
- Obligated subject — An entity legally required to implement an AML/CTF prevention system.
- SPARLAFTD — Ecuador's Money Laundering, Terrorism Financing and Other Crimes Prevention System.
- Compliance Officer — The person accountable to the UAFE for the SPARLAFTD.
- Risk matrix — A tool for identifying, assessing, controlling, and monitoring AML/CTF risk.
- PEPs — Politically Exposed Persons.
- STR — Suspicious Transaction Report.
- RESU — Cash Transaction Report (Ecuador).
- UAFE — Ecuador's Financial and Economic Analysis Unit.
- Restrictive lists — OFAC, INTERPOL, UN, PEPs, and national lists.
- Predicate offense — The unlawful act that generates the funds subject to laundering.
Ready to comply with regulations?
Our specialists guide you from diagnosis through implementation.