According to PANews, the Peruvian Superintendency of Banking, Insurance, and Private Pension Fund Administrators (SBS) has issued a resolution mandating that Virtual Asset Service Providers (VASPs) implement Know Your Customer (KYC) and Anti-Money Laundering (AML) measures as part of their compliance programs. This resolution aligns with the recommendations of the Financial Action Task Force (FATF) and aims to prevent the misuse of these platforms for illegal activities.
The resolution requires VASPs operating within Peru to appoint a compliance officer and establish systems for AML and Counter-Terrorism Financing (CTF) measures. Additionally, Peruvian exchanges must adopt effective KYC policies and establish due diligence procedures to meet these objectives. The new rules also stipulate that VASPs must collect identity and additional data from users involved in transactions exceeding $1,000, effectively enforcing compliance with the travel rule, as all virtual asset transfers are to be treated as electronic transfers.