Capítulo V

The Special Verification Intendency is hereby created within the Superintendency of Banks, which may be denominated solely as Intendency or by the acronym -IVE-, which shall be in charge of safeguarding the object and compliance of this law and its regulation, with the functions and powers established therein.

The functions of the Special Verification Intendancy are the following:

a)To require and/or receive from the obligated persons all information related to financial, commercial or business transactions that may be linked to the crime of money laundering or other assets.

b)To analyze the information obtained in order to confirm the existence of suspicious transactions, as well as operations or patterns of money laundering or other assets.

c)To prepare and maintain the records and statistics necessary for the performance of its functions.

d)To exchange with counterpart entities of other countries information for the analysis of cases related to money laundering or other assets, upon prior execution with such entities of memoranda of understanding or other cooperation agreements.

e)In case of indication of the commission of a crime, to file the corresponding complaint before the autoreserva of financial operations, the persons Monetary, and of the partners of the obligated persons, with the evidentiary [elements] that are within its knowledge or in its possession.

f)To provide to the Public Prosecutor's Office any assistance required in the analysis of information that it possesses, and to assist with the investigation of acts and crimes related to the crime of money laundering or other assets.

g)To impose on the obligated persons the corresponding administrative fines in money for omissions in compliance with the obligations imposed on them by this law.

h)Others derived from this law or from other legal provisions and international agreements approved by the State of Guatemala.

In order to facilitate judicial proceedings and investigations relating to the crimes to which this law refers, the Public Prosecutor's Office, the Special Verification Intendancy and any other competent authority may provide and request assistance to and from the competent authorities of other countries for:

a)Receiving testimony or taking statements from persons.

b)Presenting judicial documents.

c)Conducting inspections and seizures

d)Examining objects and places.

e)Providing information and elements of evidence

f)Delivering originals or authentic copies of documents and case files related to the case, including banking, financial and commercial documentation.

g)Identifying or detecting the proceeds, the instruments and other elements for evidentiary purposes.

h)Any other form of reciprocal judicial assistance authorized by domestic law.

All public or private entities are obligated to provide the cooperation requested of them by the Special Verification Intendancy for the fulfillment of the objectives of this law.

The Public Prosecutor's Office, the Special Verification Intendency and any other competent authority may provide and request administrative assistance to and from competent authorities of other countries in order to facilitate the actions they must carry out to comply with the objectives of this law.

With the object of guaranteeing confidentiality, the persons who comprise the Special Verification Intendancy and any other person who by reason of office knows of or has access to the information referred to in this Law are obligated to keep it in reserve, even after having ceased to hold office.

However, publication of data for statistical purposes is authorized, provided it is carried out in such a way that the related persons or entities cannot be identified directly or indirectly, on an individual basis.

The amount of the fines imposed as administrative sanctions arising from non-compliance with this law shall be received by the Superintendency of Banks, which shall allocate fifty percent (50%) thereof for training of the personnel of the Special Verification Intendency, and the other fifty percent (50%) shall increase its budget.

The Special Verification Intendancy -IVE- shall be headed by an Intendant and shall have the personnel necessary for its operation.

The Special Verification Intendant shall meet the following qualifications:

a)Be a Guatemalan included in Article 144 of the Political Constitution of the Republic.

b)Be over thirty years of age.

c)Be of recognized integrity and professional competence.

d)Be in enjoyment of his civil rights.

e)Be an accredited professional with an academic degree, preferably in the economic, financial or legal area.

f)Have practiced his profession for at least five years.

May not be appointed to the position of Special Verification Intendant:

a)The leaders of organizations of a political, gremial, business or union character.

b)The ministers of any cult or religion.

c)Relatives within the fourth degree of consanguinity or second degree of affinity of the President or Vice President of the Republic; of the Presidents of the Organs of the State; of the Ministers or Vice Ministers of State or of the members of the Board PROMULGATION AND PUBLICATION.

referred to by this law whose participation is equal to or greater than five percent (5%) of the paid-in capital, as well as of the directors or administrators thereof.

d)The partners whose participation is equal to or greater than five percent (5%) of the paid-in capital, directors or administrators of the obligated persons referred to by this law.

The Special Verification Intendant shall be appointed by the Monetary Board, upon proposal of the Superintendent of Banks.

In case of temporary absence of the Intendant of Special Verification, for any cause, he shall be replaced by the public official designated by the Superintendent of Banks.

(Declared ... of 2006, File No. 2240-2004). No criminal proceedings may be initiated against the Superintendent of Banks and the Special Verification Intendant, or those who replace them in the exercise of their offices, without the Supreme Court of Justice having previously declared that there are grounds for the same.