About the UAF

What we do?

The Financial Analysis Unit (UAF in Spanish) has the legal role to prevent and impede the money laundering (ML) and terrorist financing (TF) in Chile. Therefore, it conducts financial intelligence, issues rules, monitors its compliance and disseminates information of public nature in order to protect the country and its economy from the distortions generated by both crimes.

The UAF was established after the enactment of Law No. 19.913, which gave rise to it on December 12, 2003. It is a decentralized public entity, with legal personality and own patrimony, which is related to the President of the Republic through the Ministry of Finance.

Since 2010, the Analysis Unit also coordinates the National System for the Prevention of Money Laundering and Terrorism Financing of the country, representing Chile in the Financial Action Task Force of South America (GAFISUD) that sets the policies for the prevention and control of ML/ TF for Chile, Argentina, Bolivia, Brazil, Colombia, Costa Rica, Ecuador, Mexico, Panama, Paraguay, Peru and Uruguay.

The UAF exerts its preventive role through the issuance of instructions, dissemination of warning signs, training of entities forced to inform to the service the detection of suspicious transactions of ML or TF and the compliance control of the rules issued.

The companies and individuals from 34 economic sectors listed in Article 3 of the Law No. 19.913 are required to regularly submit to the UAF the Suspicious Transaction Reports (STRs) that detect in the exercise of their economic activity and the Cash Transactions (ROE in Spanish) greater than 450 UF or the equivalent in the local currency. Likewise, the Financial Analysis Unit receives and processes the Cash Carriage and Transport Statements (DPTE in Spanish) for over US$ 10.000 or the equivalent in other currencies, sent by the National Customs Service, within the framework of the controls conducted when entering and leaving the country.

In the intelligence processes carried out by the UAF, in order to detect incriminatory signs of money laundering or terrorist financing, both the facts sent by the entities forced to inform and the National Customs Service, such as the enquiries that the service makes to a variety of public and private databases and external agencies are analyzed and systematized.

When the facts show evidence of ML or TF are immediately and timely submitted to the Prosecution (MP in Spanish), the only agency empowered to decide whether or not to begin a criminal investigation for money laundering or terrorist financing. The PM is also the only agency that can request information to the UAF.

The main customers, users and beneficiaries of the UAF are:

The Prosecution
Judiciary
State Defense Council (when the cases correspond to transactions prior to the effective date of the current criminal justice system).
Foreign Financial Intelligence Units
Entities forced to inform
Authorities related to the prevention and detection of money laundering
International agencies linked to the prevention and detection of money laundering.