The Law Against Money and Asset Laundering has the purpose of preventing, detecting, sanctioning and eradicating the crime of money and asset laundering, as well as its concealment, expressly stating that financial entities must adopt policies, rules and behavioural mechanisms; as well as developing and executing programs, regulations, procedures and internal controls to prevent activities related to the crime of money and asset laundering.
On September 23, 2022, the Standards Committee of the Central Reserve Bank of El Salvador approved NRP-36 ” Technical Standards for the Management of Money and Asset Laundering Risks, Terrorist Financing and Security Financing. ” Proliferation of Weapons of Mass Destruction”, whose validity will be as of October 10, 2022, repealing the Technical Standards for the Management of Money Laundering and Assets Risks, and Terrorism Financing (NRP-08) approved by the Central Reserve Bank of El Salvador through its Standards Committee in Session No. CN-14/2013 dated November 14, 2013. The issuance of said regulations arises by virtue of the entry into force of the new Instructions for Prevention, Detection and Control of Money and Asset Laundering (MLD), Financing of Terrorism (/FT) and the Financing of the Proliferation of Weapons of Mass Destruction (FPADM), published in the Official Gazette No. 205, Volume 433 dated October 27, 2021, by the Attorney General of the Republic, effective from June 6, 2022.
