Brazil: Anti-Money Laundering data collection
Circular No. 445/2012 was issued on 2 July 2012 by SUSEP, the Brazilian insurance and reinsurance regulator, to prevent money laundering in the Brazilian insurance market.
Article 7 of the Circular requires insurers, reinsurers and brokers to create a register of all clients, beneficiaries, third parties and other related parties as part of an anti-money laundering (AML) data gathering system. Data collection forms are currently being issued by insurers, reinsurers and brokers to gather the necessary information.
In line with Lloyd’s single licence, Lloyd’s Brazil is responding centrally to these requests for the Lloyd’s market as a whole, and no further action is required from the market.
Any further information requests relating to these registers should be re-directed to Lloyd’s representative in Brazil, Marco Castro, who will provide responses directly to the parties concerned.