AML/CTF prevention system for mining companies that trade gold
In Peru, a mining company holding a concession that buys, sells, imports or exports gold is an obligated entity. It must have an anti-money laundering and counter-terrorist financing prevention system (SPLAFT). It is supervised by Peru's Financial Intelligence Unit (UIF-Perú), under Law 29038 and article 38 of SBS Resolution 789-2018, issued by the banking and insurance regulator (SBS).
According to the UIF-Perú's analysis, between 2013 and 2023 suspicious transaction reports (ROS) with a possible origin in illegal mining totaled US$19,543 million. Each supplier's file is your first line of defense. Líderes APLA has advised mining companies in Peru and starts there: concession or REINFO (mining formalization registry) status, area and method of payment.
Is your mining company required to have a SPLAFT?
| Scenario | Condition or threshold | Supervisor | Regulation |
|---|---|---|---|
| Legal entity or individual with a business, operating under concessions, that buys, sells, imports or exports raw or semi-processed gold | By activity, no size threshold | UIF-Perú | Law 29038, art. 3; SBS Res. 789-2018, arts. 3 and 38 |
| Mining company that does not trade gold (for example, copper or zinc) | Does not fall within the definition of mining company | — | SBS Res. 789-2018, art. 3, item 19 |
| Gold or precious stone trader without a concession | Obligated as a precious metals dealer | UIF-Perú | SBS Res. 789-2018, art. 38 |
The US$15,000 threshold only determines which transactions are recorded.
Elements of the SPLAFT in gold mining
- Compliance Officer: with experience in the activity or in AML/CTF, a direct relationship with the company and autonomy (art. 6). The role may be part-time. The general manager may hold it only in companies in SUNAT's MEPECO category (medium and small taxpayers) that meet art. 5.5.
- Know your customer: for the mining company, a customer is anyone who buys gold from it, sells gold to it, or imports or exports it. The general or enhanced regime applies, with the beneficial owner identified.
- Know your suppliers: due diligence on gold collectors and small-scale miners (art. 18), including their status in the Comprehensive Mining Formalization Registry (REINFO).
- Transaction register (RO): gold purchases, sales, exports and imports from US$15,000, recorded on the same day. You may set lower internal thresholds.
- Manual and code of conduct: with staff training according to their duties (arts. 20, 21 and 24).
- Risk assessment: by customer, supplier, product and area, updated at least every three years (arts. 27 to 29).
ROS, transaction register and deadlines with the UIF-Perú
| Report | To whom | Deadline |
|---|---|---|
| Appointment of the Compliance Officer | UIF-Perú, via SISDEL (its online registration system) | 15 business days from the appointment (art. 7.2) |
| Suspicious transaction report (ROS) | UIF-Perú, via ROSEL (its online reporting system) | Maximum 24 hours from when the transaction is classified as suspicious (art. 23) |
| Transaction register | Kept and retained; delivered when the UIF-Perú requests it | Ongoing (art. 30) |
| Annual Compliance Officer report (IAOC) | UIF-Perú, via the PLAFT Portal | By February 15 of the following year (art. 26.3) |
Each gold purchase, with supplier and payment details, is documented and kept for at least five years (art. 31).
Red flags in mining and gold trading
The UIF-Perú's national typology on illegal mining points to:
- A newly incorporated company, with minimum capital, engaged in exporting gold or trading minerals.
- Shareholders without the financial means to explain the working capital used to buy the gold.
- Cash payments to gold collectors in areas at high risk of illegal mining.
- Transfers from abroad on consecutive days, withdrawn immediately or sent to people with no connection to the company.
- The same shareholders in several companies in the sector, incorporated on consecutive dates.
Penalties for non-compliance with the SPLAFT
The Superintendency of Banking, Insurance and Private Pension Funds (SBS) publishes the list of sanctioned obligated entities: a final penalty against your mining company is there for all to see. Through the UIF-Perú, it imposes penalties under the Regulation on Infractions and Penalties (SBS Res. 8930-2012): from 7 to 100 tax units (UIT) for a very serious infraction by a legal entity (art. 17).
How Líderes APLA implements the mining SPLAFT
- Assessment: whether your company falls within the definition of mining company, and its gap against SBS Res. 789-2018.
- Matrix by area and supplier: sourcing in illegal mining areas carries more weight, with scoring of buyers, gold collectors and workers.
- Manual and code of conduct: supplier file (concession or REINFO, origin of the ore) and purchasing and export procedures.
- Due diligence and reporting: with AplaSoft you check lists, PEP (politically exposed persons) and SUNAT (Peru's tax authority) with evidence; we support you with the RO, the ROS and the IAOC.
- Training: for the officer and staff, with e-learning courses.
See our AML/CTF consulting in Peru, the Peruvian regulations and the glossary.
If your mining company exports gold or buys from gold collectors, let's assess your mining SPLAFT: the assessment is free.
Updated: October 2026.
Frequently asked questions
Does a copper mining company need a SPLAFT?
Does the mining company send its transaction register to the UIF-Perú?
Must a mining company have an internal and an external audit of its SPLAFT?
What if my mining company already has a manual?
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