Venezuela regulates AML/CTF through the Unidad Nacional de Inteligencia Financiera under its Organic Law Against Organised Crime and Terrorism Financing. See the obligations and how MemberCheck supports them.
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Venezuela regulates money laundering and terrorist financing through the Ley Orgánica Contra la Delincuencia Organizada y Financiamiento al Terrorismo, supervised by sector regulators including SUDEBAN for banks, SUNAVAL for securities, and SUDEASEG for insurance, and supported by the Unidad Nacional de Inteligencia Financiera, which receives and analyses suspicious transaction reports.
Regulated entities must apply customer due diligence, identify beneficial owners, monitor relationships, and report suspicious activity to the UNIF. Venezuela is on the FATF grey list of jurisdictions under increased monitoring, so firms should apply enhanced due diligence to Venezuelan exposure. Given targeted sectoral and individual sanctions programmes maintained by several jurisdictions, firms should also screen against applicable sanctions lists as part of standard due diligence.
MemberCheck helps teams meet these obligations by screening customers and entities against global sanctions, PEP, and adverse-media data, verifying identities, and monitoring risk continuously, with a clear audit trail behind every decision.
Venezuela's financial intelligence unit, a deconcentrated body under the Ministry of Economy and Finance since 2018, having previously sat inside SUDEBAN. It centralises and analyses suspicious activity reports and carries inspection powers over obligated subjects. Day-to-day sector supervision sits with SUDEBAN for banks, SUNAVAL for securities, and SUDEASEG for insurance.
Venezuela's principal AML statute, setting customer due diligence, recordkeeping, and reporting obligations for financial institutions and other obligated entities.
Firms dealing with Venezuelan counterparties should account for targeted sectoral and individual sanctions programmes maintained by the US, EU, and other jurisdictions alongside standard AML due diligence.
Venezuela is a member of the Caribbean Financial Action Task Force (CFATF), a FATF-style regional body, and aligns its regime with the FATF 40 Recommendations through that membership. Venezuela is also on the FATF list of jurisdictions under increased monitoring (the grey list), so firms should apply enhanced due diligence to Venezuelan exposure.
Supervision is split by sector, with SUDEBAN supervising banks, SUNAVAL the securities market, and SUDEASEG insurance, each issuing AML rules for its own obligated subjects. The Unidad Nacional de Inteligencia Financiera (UNIF) is the financial intelligence unit, which centralises and analyses suspicious activity reports and also holds inspection powers over obligated subjects. It was separated from SUDEBAN in 2018 and now reports to the Ministry of Economy and Finance.
The Ley Orgánica Contra la Delincuencia Organizada y Financiamiento al Terrorismo sets the customer due diligence, recordkeeping, and reporting obligations for regulated entities.
Venezuela is a member of CFATF, the FATF-style regional body for the Caribbean, and is also on the FATF grey list of jurisdictions under increased monitoring, so firms should apply enhanced due diligence. Firms should additionally account for targeted sanctions programmes maintained by the US, EU, and other jurisdictions.
MemberCheck screens customers and entities against global sanctions, PEP, and adverse-media data, verifies identities, and monitors risk continuously, with an audit trail behind every decision.
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