PLDFT and Exchange

PLDFT and Exchange

Know the importance and the rules that govern the financial market.

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What is PLD and PLDFT?

PLD:  is the acronym in Portuguese for Money Laundering Prevention.
PLDFT:  is the acronym in Portuguese for Money Laundering Prevention and Terror Funding Fighting   

What is Money Laundering?

It is the procedure used to disguise the origin of illegal resources, using strategies to justify the source, and to avoid suspicions with the Federal Revenue and financial institutions.   
Several types of crime move the money laundering market, such as: corruption, drug trafficking, smuggling, among others.

 

What is the importance of PLD and PLDFT?

Actions to Prevent Money Laundering and Terrorism Funding are a way for the government and major financial institutions to mitigate the practice of the money laundering crime.
According to Febraban, in 2019, 119,000 reports of suspicious transactions and 2.9 million reais were reported.

What are the bodies that regulate and establish ruled for the prevention of money laundering?

There are several bodies responsible for the processes; among them:
COAF
Brazilian Central Bank
CVM
GAFI

What is the role of COAF? 

COAF stands for Financial Activities Control Board.  It is the federal government's financial intelligence unit that has as one of its responsibilities to prevent and fight money laundering.

 

Know some rules and standards that financial institutions must follow:

Circular 3978, released by the Central Bank in January 2020, addresses the policies, procedures, and internal controls designed to prevent procedures that seek to use the financial system for the practice of crimes of "laundering" or concealment of assets, rights, and values.

Central Bank Circular Letter Nr. 4001 addresses the list of operations and situations that may constitute some type of evidence of occurrence of crimes of "laundering" or concealment of assets, rights, and values; which are liable to be reported to the COAF.

 

Some examples of PLD/PLDFT control:

Maintenance of updated customer and partner registration;
Training of Moneycorp employees and partners.

Consult a moneycorp specialist to assist you in the process and carry out new operations.

Note: This content is not intended as advice or any form of investment.  Merely informative content.

 

Why choose moneycorp?

120+ currencies to choose from

120+ currencies to choose from

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Data security and system protection tools

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Verification of documentation safely

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