Application of Regulations in The Financial System

TEXT FOR LEARNING
From the Didactic Unit:
APPLICATION OF FINANCIAL SYSTEM

REGULATIONS IN REAL SITUATIONS
I Banking and Financial

Business Administration
CYCLE VI
CERTUS
PRESENTATION OF THE
DIDACTIC UNIT (UD)
Purpose of the UD
The didactic unit Application of regulations of the financial system in real situations, of the Banking
and Financial Business Administration degree, has the purpose that the student learns to use tools that
allow applicability and decision making from the point of view of a supervised or supervisory financial
institution, based on the fundamental pillars of the functioning of the national financial system and the
respective regulations and regulators. Therefore, the student develops skills to perform effectively in
their daily work activity such as serving their clients from any of the possible positions they occupy.
In this sense, the Didactic Unit covers various aspects such as saver protection mechanisms; money
laundering; SBS inspections; the purpose and functions of the BCRP; the Consumer Protection and
Defense Code, contracts, as well as the Financial Client Ombudsman.
How to use this text for learning

We must review and resolve each of the activities, questions or cases that are proposed during the
development of each indicator. We can do this before arriving to class, during class or after class.
The parts that each indicator comprises are:
(9 Situation Reflection on what was learned

• problematic Carrying out these activities allows you
You are invited to resolve a case or to become aware of how you learned.
activity related to the indicator and
considering the knowledge you have.
Connection (. Summary of the

of knowledge learned
Information, links or a set of activities It is the moment where the understood
are presented that, when read or solved, information is synthesized.
allow the necessary connections to be
made to contrast it with the initial
problem.
(Complementary self-learning activities

Transferring what was learned
One or more cases are presented that by By solving this set of cases or
solving them we are reflecting the situations, we seek to consolidate what
learning achieved. has been learned.
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LEARNINGS TO
ACHIEVE WITH THE UD
Ability
Application of regulations for the regulation and supervision of financial institutions in cases that are
presented to the agencies.
Achievement indicators and attitudes

1.1. Describes savings protection mechanisms and ways to mitigate their risk.
1.2. Value the importance of fulfilling obligations.
2.1. The regulations regarding money laundering apply in the workplace.
3.1. Describes the process and actions carried out by SBS inspectors at a financial institution.
3.2. Communicates effectively when interacting with peers.
4.1. Describes the purpose and functions of the BCRP in terms of monetary regulation.
4.2. Respect the rules established in the institution.
5.1. Describes monetary crimes and their criminal consequences.
6.1. Explains the main concepts of Law No. 29571-2011.
7.1. Values the importance of suitability and truthfulness in consumer information.
7.2. Demonstrate respect for the different contributions made by your peers.
8.1. Describes the particular elements of the consumer contract.
9.1. Explains abusive commercial conduct within commercial activity.
9.2. Demonstrate respect for the different contributions made by your peers.
10.1. Assesses the functions and importance of the customer service system and the Financial Customer
Ombudsman .
11.1. Deduces the main errors by financial institutions related to consumer protection
12.1. DCF regulations apply.
12.2. Demonstrates commitment to belonging to the team.
GENERAL SCHEME
FROM THE UD
Mechanisms
of protection
of savings and
The forms of
dim your
risk Regulations on
money
Financial laundering in
Client the workplace
Ombudsman
errors on the part

of the institutions
Financial
related to
the protection to
consumer
Application of
System Regulations
Financial in Situations
Yo__ Royals
Customer
Service
central bank
System
of Reserve
User and
Peru
Ombudsman
the client's
Financial
Behaviors Suitability and

commercial
abusive
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INDEX
Presentation of the teaching unit (UD)

Learning to achieve with the UD
General scheme of the UD
Bankruptcy..........................................11
Rural “The Lord of Luren”.................11
Savings protection mechanisms and ways to mitigate their risk 12
1. Saving..............................................12
1.1 Savings protection mechanisms 12
1.2 . Ways to mitigate the risk for the saver 13
Transferring what was learned........15
The SBS and the investors meeting....15
1. We complete the following table: 15
2. Investors meeting..................15
Reflection on what was learned.......15
Summary of what was learned........15
Activities..........................................16
complementary self-learning...........16
CASE 1........................................16
CASE 2........................................16
CASE 3........................................16
Problematic situation.......................17
Solidez Bank.......................................17
Connection of knowledge................18
Regulations on money laundering in the workplace. 18
1. Basic concepts.................................18
1.1. Money Laundering (ML):.18
1.2. The Financing of Terrorism (FT): 18
2. Main aspects related to the ML/TF Prevention System 18
3. Knowledge of the correspondent bank19
4. Collaborator knowledge..................20
5. anonymous customer.......................20
6. Compliance officer..........................20
Financial threats to the economy.........20
Case 1...........................................21
Case 2...........................................21
Case 3...........................................22
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Case 4...........................................22
Problematic situation...........................23
The end of the fine print in contracts. .23
Inspectors of the Superintendence of Banking, Insurance and AFP 24
1. The Superintendence of Banking, Insurance and AFP 24
2. The supervisory function and supervisory areas of the SBS 24
3. Supervision Areas............................24
4. Mandatory reports to the SBS.........25
5. Inspection visit.................................25
6. Visit procedure................................26
7. Requirements...................................26
8.Sanctions..............................................26
Case 1...........................................27
Case 2...........................................28
Case 3...........................................28
Case 4...........................................28
Intervention in the exchange rate........29
Central Reserve Bank of Peru.............30
1. Features............................................30
1.1. Preserve monetary stability30
1.2. Fit within the regulatory point of view 30
2. Functions of the Central Reserve Bank of Peru 30
3. Legal aspects related to:......................31
Crisis of 2008......................................31
CASE 1........................................33
CASE 2........................................33
CASE 3........................................33
“Every counterfeit bill will be chopped”34
Monetary crimes and criminal consequences 35
1 . The Central Office for the Fight against Cash Counterfeiting (OCN) 35
2 . Legal framework and functions.....35
3 .Geneva Convention........................35
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4 .Monetary crimes.............................36
Talks to merchants and workshops for authorities 37
9) Reflection on 05 what was learned37
Complementary self-learning activities 38
CASE 1........................................38
CASE 2........................................38
CASE 3........................................38
Improper payment...............................39
Consumer Protection and Defense Code40
1. Consumption ratio...........................40
2. Information asymmetry...................40
3. acts of deception..............................40
4. Relevant information.......................40
5. Equal treatment and preferential customers 41
6. Complaints book..............................41
Activities..........................................43
CASE 1........................................43
CASE 2........................................43
CASE 3........................................43
CASE 4........................................43
El Karibeñito Regalón.........................44
Suitability of information to the client 45
1 . Suitability of information to the client 45
2 .Truthfulness of information to the client 45
“Misunderstanding at the Bank”.........45
CASE 1........................................46
CASE 2........................................47
CASE 3........................................47
CASE 4........................................47
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Contract Annexes................................48
Consumer contract..............................49
1. Definition.........................................49
2. General features...............................49
3. General contract clauses and adhesion contracts 49
4. Unfair terms.....................................50
5. Administrative approval..................50
6. Modification of contractual clauses.50
CASE 1........................................51
CASE 2........................................51
CASE 3........................................52
CASE 4........................................52
Abusive collection methods................53
Abusive business conduct...................54
1. Coercive trading methods................54
2. Aggressive or deceptive trading methods 54
3. Abusive collection methods............55
CASE 1........................................56
CASE 2........................................57
CASE 3........................................57
Be careful with the change!.................58
Customer Service System...................59
User and Ombudsman.........................59
Financial Client...................................59
1. User support system........................59
2. Absolution of queries and complaints59
to. Consultations..........................59
b. Claims......................................59
4. Financial Customer Ombudsman (DCF)59
to. Features...................................60
9) Reflection on "9 what was learned60
8
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CASE 1........................................61
CASE 2........................................61
CASE 3........................................61
CASE 4........................................61
11................................................................62
Where can I report a bank?.................62
1. Frequent cases of complaints..............63
2.Recommendations for prevention........63
3. Claim resolution deadlines..................64
CASE 1........................................65
CASE 2........................................65
CASE 3........................................65
CASE 4........................................65
Fraudulent consumption and cloned cards 66
Ombudsman........................................67
1. Normative........................................67
“Breach of contract”............................67
CASE 1........................................68
CASE 2........................................69
CASE 3........................................69
CASE 4........................................69
Problematic situation: Banco Solidez.. 13

Connection of knowledge: Regulations on money
laundering in the workplace ........................... 14
Bankruptcy..........................................11
Rural “The Lord of Luren”.................11
Savings protection mechanisms and ways to mitigate their risk 12
1. Saving..............................................12
1.1 Savings protection mechanisms 12
1.2 . Ways to mitigate the risk for the saver 13
The SBS and the investors meeting....15
1. We complete the following table: 15
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2. Investors meeting.................15
Activities.........................................16
CASE 1........................................16
CASE 2........................................16
CASE 3........................................16
Solidez Bank.......................................17
Regulations on money laundering in the workplace. 18
1. Basic concepts.................................18
1.1. Money Laundering (ML):.18
1.2. The Financing of Terrorism (FT): 18
2. Main aspects related to the ML/TF Prevention System 18
3. Knowledge of the correspondent bank19
4. Collaborator knowledge..................20
5. anonymous customer.......................20
6. Compliance officer..........................20
Financial threats to the economy........20
Case 1...........................................21
Case 2...........................................21
Case 3...........................................22
Case 4...........................................22
Problematic situation...........................23
The end of the fine print in contracts. .23
Inspectors of the Superintendence of Banking, Insurance and AFP 24
1. The Superintendence of Banking, Insurance and AFP 24
2. The supervisory function and supervisory areas of the SBS 24
3. Supervision Areas............................24
4. Mandatory reports to the SBS.........25
5. Inspection visit................................25
6. Visit procedure................................26
7. Requirements...................................26
8.Sanctions..............................................26
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0
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Case 1...........................................27
Case 2...........................................28
Case 3...........................................28
Case 4...........................................28
Intervention in the exchange rate........29
Central Reserve Bank of Peru.............30
1. Features...........................................30
1.1. Preserve monetary stability30
1.2. Fit within the regulatory point of view 30
2. Functions of the Central Reserve Bank of Peru 30
3. Legal aspects related to:......................31
Crisis of 2008......................................31
CASE 1........................................33
CASE 2........................................33
CASE 3........................................33
“Every counterfeit bill will be chopped”34
Monetary crimes and criminal consequences 35
1 . The Central Office for the Fight against Cash Counterfeiting (OCN) 35
2 . Legal framework and functions.....35
3 .Geneva Convention........................35
4 .Monetary crimes.............................36
Talks to merchants and workshops for authorities 37
9) Reflection on 05 what was learned37
CASE 1........................................38
CASE 2........................................38
CASE 3........................................38
Improper payment...............................39
Consumer Protection and Defense Code40
1. Consumption ratio...........................40
2. Information asymmetry...................40
3. acts of deception..............................40
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4. Relevant information.......................40
5. Equal treatment and preferential customers 41
6. Complaints book..............................41
Activities.........................................43
CASE 1........................................43
CASE 2........................................43
CASE 3........................................43
CASE 4........................................43
El Karibeñito Regalón.........................44
Suitability of information to the client 45
1 . Suitability of information to the client 45
2 .Truthfulness of information to the client 45
“Misunderstanding at the Bank”.........45
CASE 1........................................46
CASE 2........................................47
CASE 3........................................47
CASE 4........................................47
Contract Annexes................................48
Consumer contract..............................49
1. Definition.........................................49
2. General features...............................49
3. General contract clauses and adhesion contracts 49
4. Unfair terms.....................................50
5. Administrative approval..................50
6. Modification of contractual clauses 50
CASE 1........................................51
CASE 2........................................51
1
2
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CASE 3........................................52
CASE 4........................................52
Abusive collection methods................53
Abusive business conduct...................54
1. Coercive trading methods................54
2. Aggressive or deceptive trading methods 54
3. Abusive collection methods............55
CASE 1........................................56
CASE 2........................................57
CASE 3........................................57
Be careful with the change!................58
Customer Service System...................59
User and Ombudsman.........................59
1. User support system........................59
2. Absolution of queries and complaints59
to. Consultations..........................59
b. Claims......................................59
4. Financial Customer Ombudsman (DCF)59
to. Features...................................60
9) Reflection on "9 what was learned60
CASE 1........................................61
CASE 2........................................61
CASE 3........................................61
CASE 4........................................61
11................................................................62
Where can I report a bank?.................62
1. Frequent cases of complaints..............63
2.Recommendations for prevention........63
3. Claim resolution deadlines.................64
1
3
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CASE 1........................................65
CASE 2........................................65
CASE 3........................................65
CASE 4........................................65
Fraudulent consumption and cloned cards 66
Ombudsman........................................67
1. Normative........................................67
“Breach of contract”............................67
CASE 1........................................68
CASE 2........................................69
CASE 3........................................69
CASE 4........................................69
1
4
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Indicator
achievement
1
Describes savings
protection mechanisms
and ways to mitigate
their risk. In the city, it is said that there is a financial institution that
is about to “go bankrupt”, since a bank employee has
indicated that Mr. Rodríguez has canceled his savings
account for an amount of US$ 10,000,000.00, and that this
situation has led the bank to the brink of bankruptcy
bankruptcy, consequently, no one will be able to recover

the money saved. This has generated a lot of uncertainty
among clients, who do not know what to do or who to turn
to.
Next, let's answer the following questions:

m Is it true that no one will be able to get their money
back?
Or will there be any institution that looks after savers?
O OR Has any fault been committed by the bank employee?
O
3
yo
u
Bankruptcy
Problematic
situation
Rural “The Lord of Luren”
The Superintendency of Banking, Insurance and AFP (SBS) reported that Caja Señor de
Luren de Ica, the first in the ranking of rural savings banks that operate in the Peruvian
financial system by loans, deposits and assets,
intervened, because the deterioration of its
portfolio of credits had put its viability and
solvency at risk.
The SBS also indicated that the Caja Rural Señor de Luren de Ica did not meet the
capital requirements to cover the loss of more than 50% of its effective assets.
"The timely intervention of the SBS has made it possible to protect 100% of the
deposits held by all the institution's savers."
(Reading news about the bankruptcy of the Caja Rural El Señor de Luren)
RPP news / June 18, 2015. Recovered from http://bit.ly/2oPotul
Next, we answer the following questions: What does this situation of unpaid loans cause for a financial
institution?
Why is it important that there be a deposit insurance fund?
According to the news, what points do you identify that caused the Señor de Luren fund to be intervened
by the SBS?
Savings protection mechanisms and ways to mitigate their risk

Connectio
n of 1.
© Link
knowledge Saving
According to the General Law of the Financial System and the Insurance and Organic System of the SBS,
savings are constituted by the set of money deposits that, under any modality, are made by natural and
legal persons in the country or abroad in companies. of the financial system, which are regulated and
In the following link you
under the supervision of the Superintendence of Banking, Insurance and AFP (SBS). In that sense, we
will find more information
have savings protection mechanisms and ways to mitigate their risk, which we will describe below.
about banking secrecy:
http://goo.gl/eHmdFf 1.1 Savings protection mechanisms
Deposit Insurance Fund (FSD)
What is the Deposit It is an institution whose objective is to protect depositors in the event that the financial institution, a
Insurance Fund? member of the FSD where they hold their deposits, goes bankrupt.
When the SBS intervenes in a financial institution that is a member of the FSD, it pays insurance to
How does the FSD protect depositors equivalent to the amount of their deposit plus the interest generated up to an amount that
depositors? cannot exceed the maximum amount of current coverage, starting from the second year of
contributions. made.
How much does this The insurance has no cost to depositors, since FSD members pay a quarterly premium for this
insurance cost insurance.
depositors?
Who is protected by the

FSD? And what type of The Fund only supports nominative deposits, under any modality (sight, savings and term), of natural
deposits are backed? persons and private non-profit legal entities, the interest accrued on the aforementioned deposits, from
the date of constitution or of its last renewal, and demand deposits of other legal entities, with the
exception of those corresponding to companies in the financial system.
Who are members of the The Deposit Insurance Fund is made up of financial institutions authorized by the SBS to capture
FSD? deposits from the public. The members of the Deposit Insurance Fund are: banks, financial
companies, Municipal Savings and Credit Banks, and Rural Savings and Credit Banks.
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The banking secrecy

Banking secrecy is the duty of confidentiality that financial institutions have regarding the passive
operations entrusted to them by their clients. This obligation is based on different theories such as
professional secrecy, good faith, the will of the parties or banking usage.
1.2 . Ways to mitigate the risk for the saver

Limits and prohibitions that regulate companies
The limits and prohibitions are indicated in Title II of the Second Section and in the other provisions
that regulate companies in the Financial System Law. These limits are intended to ensure the
diversification of risk and the limitation of the growth of companies in the financial system, up to a
certain number of times, in the amount of their effective assets.
Legal and optional reserves
The General Companies Law, Law No. 26887, in article 229, states that a minimum of 10% of the
distributable profit of each year must be allocated to a legal reserve, until it reaches an amount equal
to the fifth part of the capital.
In the case of optional reserves, they are formed by an agreement of the General Meeting of
Shareholders.
Effective equity
The effective equity of companies may be allocated to cover credit risk, market risk and operational
risk. Likewise, it will be determined by adding the basic assets with the supplementary assets,
according to the following procedure:
Main components:
• The sum of the paid-in capital, the legal reserves, the supplementary capital premium
The basic heritage and the optional reserves that can only be reduced with prior approval from the SBS,
if any. Additionally, paid-in capital includes common shares and perpetual preferred
shares with non-cumulative dividend rights.
• Losses from previous years and the current year that have a capitalization agreement
or the provision deficit that has been determined are added or subtracted.
Main components:
• Sum of optional reserves, redeemable subordinated debt and instruments with capital
characteristics.
The additional heritage • Sum of generic provisions up to one point twenty-five percent (1.25%) of assets and
contingents weighted by credit risk.
• Investment in shares and/or subordinated debt issued by other companies in the
financial or insurance system of the country or abroad
Minimum capital and application of profits

For the operation of the companies and their subsidiaries, the share capital,
contributed in cash, is required to reach the following minimum amounts:
banking company S/ 27,484,715

Financial company S/ 13,821,601
Municipal Savings and Credit Bank S/ 13,821,601
Municipal Popular Credit Fund S/ 7,371,521
Small and Micro Business Development Entity (EDPYME) S/ 1,249,473
Savings and Credit Cooperatives authorized to raise resources from the public S/ 1,249,473
Rural Savings and Credit Bank S/ 1,249,473
The profits for the year are determined after having made all the provisions
established by the Superintendency or agreed upon by the company itself.
Right of compensation
The right of compensation of companies between their debts and the assets of
the debtor that they maintain in their possession, up to the amount of those,
returning to the debtor's estate the resulting excess, if any.
Consolidated supervision of conglomerates
It requires companies subject to its supervision to present balance sheets and
other relevant financial information in a consolidated and individual form by
companies, as it deems appropriate.
Risk classification of supervised companies
They are companies specialized in the evaluation of companies in their
qualitative and quantitative aspects, which give an opinion with independent
criteria (objective), whose main objective of the risk classification of debt
instruments is to provide investors with a professional opinion, timely and
independent with respect to the credit quality (probability of a timely payment
of interest and amortization) of the instruments offered in the market.
Likewise, they evaluate companies such as banks, investment funds or
insurance companies, and national, provincial or municipal states. Their
sentences are expressed in letters and are called notes or ratings .
Risk classifiers
National scope At international level
• Standard & Poor's
• Fitch
• Moody's
• Support & International Associates • JP Morgan
• Class& Asociados SA
• PCR (Pacific Credit Rating)
• Equilibrium
• MicrorateLatinAmérica SA
• Accuratio Credit Rating Agency ECR SA
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Transferring
The SBS and the
what was
learned investors meeting
1. We complete the following table:
Description of the protection mechanism or

Situation
way to mitigate its risk applied in the
situation described.
The SBS agreed to lift the banking secrecy of 86 natural persons and
52 legal entities, which are being investigated for being part of the
network led by fugitive lawyer Rodolfo Orellana.
2. Investors meeting
At a meeting of investors, they considered creating a multiple operations financial institution.
These investors have some questions:
a. How much equity would that financial institution have to have?
b. What advantages would exist if your savers were under the protection of the FSD?
c. What types of operations are under the protection of banking secrecy?
Reflection on what was learned
We answer:
What new knowledge have we managed to acquire?
What will they be used for?
Summary of
what was
Now let'slearned
prepare, on an additional sheet, a conceptual map on the savings protection
mechanisms and ways to mitigate their risk.
1
9
Activities
complementary self-learning
Considering what we have learned, let's review the following cases:
CASE 1
The main consequence of illicit enrichment caused by acts of corruption is that money is illegally
entered into the financial system. Faced with this, the Financial Intelligence Unit requests information
from one or some financial institutions about the deposits that these people have in their institutions.
Next, we answer the following questions:
a. What observations should the Financial Intelligence Unit make?
b. Explain whether deposits would be protected by bank secrecy.
CASE 2
Last week, a group of savers approached the Virgen de las Nieves Cooperative in Ayacucho, to ask if
this financial institution is under the protection of the Deposit Insurance Fund (FSP).
According to the case presented, we answer the following question:
What is the response that this Cooperative should provide to its savers?
CASE 3
The financial institution where you work has asked you to quantify the credit risk, since the placements
of the last year have not been entirely good.
Now, we answer the following question:
Will the losses caused by that bad placement that your financial statements have will be covered?
Indicator
achievement
2
Apply the regulations on
money laundering in the
workplace
Miss María del Pilar Rivarola, who works on the customer

service platform at a local bank, was summoned by her
boss for training on money laundering.
y
o
u
3 Is training necessary for María del Pilar on the topic

of money laundering?
cu
What will this training be about?
.
Problematic
situation
Solidez Bank
The head of operations at Banco Solidez, Mr. Rubén Manrique, is a very responsible and careful
person with his work. He is assisting a client who wants to make a deposit in a savings account for the
amount of US$200,000, for which he has to sign an affidavit of origin and destination of funds.
However, the client has stated that he is not going to sign any documents, because he is a former
client, and is offering the head of operations a “commission” to avoid this paperwork.
Next, answer the following questions:
Do you think the procedure used by the bank is correct?
Will there be any regulations for this type of case?
Is there any range of amount of money to consider a deposit for money laundering?
2
1
Connectio
n of Regulations on money laundering
knowledge in the workplace.
1. Basic concepts
1.1. Money Laundering (ML):
It is an autonomous crime that has its origin in a preceding crime, which consists of giving the
appearance of legality to the illicit funds or assets resulting from said crime, so that they
circulate without problem in the economic-financial system.
1.2. The Financing of Terrorism (FT):

It is an autonomous crime that consists of raising legal or illicit funds in order to finance
terrorists, terrorist organizations or terrorist acts, in accordance with current regulations and
international treaties. Collection of funds or assets by natural persons or legal entities, whose
origin may be legal or illicit.
2. Main aspects related to the ML/TF Prevention

System
The ML/TF prevention system is made up of the policies and procedures established by the
regulated entities, in accordance with the regulatory provisions on the matter, through the
management of the ML/TF risks to which they are exposed. Its purpose is to prevent and
prevent it from being used for illicit purposes linked to ML/FT.
The ML/TF Prevention System must be applied by the reporting entity, its compliance officer,
its workers and directors; and, in general, for its entire administrative and operational
organization, in accordance with the functions that correspond to them. Its application must
focus on the detection of unusual operations and the prevention, detection and reporting of suspicious operations
that are allegedly linked to ML/FT, to communicate them to the FIU-Peru, within the established legal deadline.
Warning signs
They are activities and behaviors of those who move in the market, which constitute situations
outside of what is considered normal or usual.
Among the main activities we have:
♦ Large volume of check deposits
♦ Transfers and other negotiable instruments
♦ Transfers sent and/or received without apparent commercial reason.
♦ Sudden cancellation of credits
♦ Insufficient or adulterated information
♦ Pressure from clients to bypass controls
♦ Structuring or smurfing-small deposits
♦ Complicity of financial officer
♦ Complicity of financial institution
♦ Misuse of exceptions
♦ Use of front companies, paper companies, insurance, casinos, purchase and smuggling of works of art.
♦ Nonprofit foundations or corporations
♦ Purchase of lottery tickets
♦ False import/export invoices or "double billing"
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♦ High-value vehicle dealers: airplanes, boats, luxury cars

♦ Trade in antiques, art objects and jewelry
♦ Entities incorporated in tax havens.
Customer and market knowledge

Let's observe in the following table what aspects we should know about the client and the market:
• Identity verification of natural and legal persons.

• Update information.
• Make visits.
• Verification of identity documents.
• Verification of statutes and powers.
Customer
• Banking, commercial, personal references, police and judicial references.
• Verification of address, products or services sold, type of clients.
• Monthly/annual income level, types of transactions expected, source of funds.
• In cases where it is required, the corresponding forms for the origin and destination of the funds
must be filled out, on a mandatory basis.
• Identification of the target market.

• Market segmentation by:
Market - Risk levels
- Product classes
- High-risk laundering regions
- Economic activities
3. Knowledge of the correspondent bank

If you are in a place called a "tax haven", if you have or have had problems or signs of money laundering and/or
terrorist financing.
2
3
Understanding that a tax haven is that country in which there is a tax regime with low or no
taxes.
4. Collaborator knowledge
We must consider the following aspects in the collaborator:
♦ The worker's lifestyle does not correspond to his income.
♦ Avoids or refuses to take vacations.
♦ Has frequent and unjustified absences.
♦ He frequently remains in the office after hours.
♦ Use your home to receive documentation from clients.
EIT
5. anonymous customer
They are the supposed clients that are hired by the financial institution, with the purpose of
testing its personnel in different areas.
HER Link
6. Compliance officer
It is the natural person designated by the obligated subject, responsible for monitoring the proper
implementation and functioning of the ML/TF prevention system. Likewise, he is the contact
person between the obligated subject, the supervisory body and the FIU-Peru. In addition, it is
an agent on which the supervisory body relies in the exercise of the control and supervision
about money laundering
work of the aforementioned system.
regulations:
Through what we reviewed, we have been able to observe that money laundering and terrorist financing are a serious
threat to the economy, so no sector or company is safe from being used by criminals. However,
there are many people and entities that are unaware of the dimension of this problem; Therefore,
they see it as something foreign.
Transferring
what was
learned Financial threats to the
economy
Below we answer the following questions:
a. What tricks does crime use to try to get ill-gotten money into the financial system?
b. Is money laundering caused by drug trafficking and terrorism?
c. Do you consider that the financial system is at risk? Because?
2
^CERTUS)
On a separate sheet, we complete the following table to reflect on what we have learned:
Did I understand the regulations If I had difficulties, how did I What will what I learned be used
regarding money laundering? overcome them? for?
Let's make, on an additional sheet, a mental map that represents the topic developed. To do this, we will
review the following links: http://bit.ly/2BvpMGT and http://bit.ly/2CZi5pr
Summary of
what was
learned
Complementary self-learning activities

.
Case 1
For a few months now, at Banco La Providencia, it has been observed that one of its service representatives, whose
salary is S/ 1,200 per month, has an unexpected increase in his assets: he has acquired a car and motorcycle of the
year; She has also taken trips and bought jewelry. When asked about this increase in assets, he responded that it was
an inheritance, and did not provide further details.
Below we answer the following question:
What part of the LAFT regulations is applicable to the case of the service representative of Banco La Providencia?
Case 2
A client gets upset because the service promoter tells him that, for the deposit he wants to make of US$100,000, he
must fill out a money laundering form, and decides not to give him any information, because it is his money.
Furthermore, he states that, in the other banks, they have not asked him anything for similar deposits.
What should be the service representative's procedure when faced with the customer's refusal?
2
5
Should the service promoter make an exception due to the large amount the client deposits?
Is it true that other banks will not make this client fill out the information on the origin of funds?
Case 3
An employee of the company Trucos & Trafas E. YO. R. L., has approached the Prontitud bank agency
to make twenty deposits of $1,000 in the same destination account.
The service representative, seeing that the deposits are smaller, proceeds with the deposits as normal.
How do you verify that the service representative is proceeding legally with deposits?
What warning sign are we referring to in this case?
Can anyone from the financial institution notice this operation?
Case 4
An import client of Banco Premium (a bank with a very good reputation) has asked you to finance an
import letter of credit, the beneficiary of which is a microenterprise from another country. Upon
carrying out the investigations, Premium Bank detected that the correspondent bank was involved in
money laundering as was its client.
Should Banco Premium execute the credit operation? Because?
What risk would the bank and its client be assuming?

Indicator
achievement
3
Describes the process
and actions carried out
by SBS inspectors in a
financial institution. As a result of BBVA Banco Continental's commission for
counting low-denomination American dollars, the SBS
decided to exclude from commissions the reception or
management of coins and banknotes, such as counting,
centralization, verification, transportation and custody in
vault.
c
Do you think it was correct to charge that
commission?
Did the SBS act well by intervening in this case?
y Financial institutions have a duty
o
to communicate to the SBS any change in its charges
u
to its clients and/or users?
Bill Counting: These are the other eighteen fees that a bank cannot
charge (January 20, 2017). Management.
c
Retrieved from http://bit.ly/2Ffloe6 .
u
Problematic
situation The end of the fine print
in contracts
They will have the obligation to write them with legible characters (no less
than 3 mm), and provide the information prior to their celebration, as part of
the provisions approved by the SBS, which will regulate the transparency of
information and contracting in the financial system. In the event of non-
compliance with such provisions, a fine of 100 UIT will be imposed.
See, N. (December 4, 2005). Bank users will say goodbye to the “fine print” in contracts.
The Republic . Retrieved from http://bit.ly/2Ff8gFX
Below we answer the following questions: Why did the SBS have to intervene in
the case of “fine print” contracts?
Should banks inform the SBS about changes to their contracts?
Connectio
n of
knowledge Inspectors of the Superintendence of
Banking, Insurance and AFP
1. The Superintendence of Banking, Insurance

and AFP
It is an autonomous Institution with legal status under public law whose scope of action, operation
and powers are established by the Political Constitution of Peru.
Superintendence of Banking, Insurance and AFP (2017). SBS resolution No. 03703
2017. Lima-Peru. Retrieved from http://bit.ly/2CYIHXL
SUPERINTENDENCE
BANKING, INSURANCE AND AFP
Source: http://bit.ly/2Flt3e3
2. The supervisory function and
supervisory areas of the SBS
The SBS seeks to implement specialized, comprehensive and discretionary
supervision; it intends to implement a supervision approach by type of risk.
Likewise, it is oriented towards comprehensive supervision that generates
an appreciation of the risk management by the supervised companies.
Superintendence of Banking, Insurance and AFP (2016). SBS resolution No. 1906
2016. Lima-Peru. Retrieved from http://bit.ly/2FSLwMU
3. Supervision Areas
Let's look at the following diagram to illustrate the areas of supervision:
^CERTUS)
This implies a constant evaluation of the areas at risk of the financial institution and its savers, such as:
credit, market, liquidity, operational and legal risk.
4. Mandatory reports to the SBS

Next, let's look at the following table with the mandatory reports to the SBS.
a. Reports referring to the calculation of the effective equity requirement for market risk.
b. Daily information on interest rates in MN and ME.
c. Annexes and Reports to the Financial Statements of the Accounting Manual, the Report on ATMs and
Correspondent Tellers".
d. Report of economic groups of debtors.

e. Fund Transfer Movements (national and international).
f. Information Report on Financial Statements of Commercial Debtors.

( g. Liquidity Table by Short-Term Maturities.
and
h. Information transparency regulations and provisions applicable to contracts with users of the financial system.
5. Inspection visit
For the development of its inspection power, the SBS may examine, by any means it deems necessary:
♦ Books
♦ Accounts and files
♦ Documents
♦ Correspondence and in general any other information that is necessary for the
fulfillment of its functions
These inspection visits are usually unexpected.
6. Visit procedure
The procedure occurs when a representative of the SBS visits a branch
previously chosen by the SBS to carry out the inspection visit, which may
address whether the staff is trained to provide information about the products
and services (their rates, commissions and deadlines). ), if the advertising is
duly updated, if the tariffs are updated, if the mandatory information is duly
displayed, among other inspection functions.
After the inspection, the SBS representative will go to the head of the area,
department or agency. A report will be identified and drawn up indicating
whether the inspection was favorable or unfavorable. Then, you will validate it by
requesting receipt with the signature and stamp of the boss on the document, and
the corresponding copies. Finally, you will leave a copy in the inspected area.
7. Requirements
You may request from the financial institution all the information you deem
necessary to inform yourself about its financial situation, resources,
administration or management, actions of its representatives, degree of security
and prudence with which investments are made, and in general, any other
information. matter that, in his opinion, should be clarified. Likewise, the
testimony of third parties may also be received and the exhibition of books and
documents requested. This procedure will be carried out within the established
limits.
8.Sanctions
Among them we have:
Transferring
what was The financial Bonanza
learned
The financial company Bonanza, for a few months, has increased its credit
risk substantially; and this information is trying to be hidden from the SBS.
However, the investigations carried out have aroused suspicions among SBS
officials; Therefore, they have arranged to carry out an on-site inspection.
^CERTUS)

a. Will the SBS have the authority to intervene in the financial company
Bonanza?
b. If the concealment of information is proven, what can the SBS do?
Reflection on
what was
learned
On a separate sheet, we reflect on the learning by completing the following
outline:
How did you learn about the processes and actions carried out by SBS
inspectors in a financial institution?
What were the doubts that arose in the learning process? How did you
overcome it?
Summary of
what was
learned
On a separate sheet of paper, create a visual organizer that represents the topics we have
developed.

.
The Commercial Bank has been notified by the SBS to carry out a comprehensive analysis of
the institution, to do so, it will require documents and reports from the different areas.
Case
1
What type of inspection is the SBS going to carry out?
What are you going to review?

Case 2
An agency of the Financiera de la Amazonía has been visited by an SBS official to carry out an
inspection visit, detecting that the advertising in the diptychs is outdated; that the Service Promoter did
not give him information about the rates and terms of time deposits, in addition, that the Service
Platform denied him the delivery of a savings contract and told him that he could see it through the
website of the Financial. This is the second time, in six months, that the SBS has visited that agency.
Will the SBS official deliver any document to the Financial Institution after the inspection?
Could La Financiera be sanctioned? Because?
Case 3
In the Savings and Credit Bank where you work, credit risk has increased due to the prioritization of
sales and a poor collections policy, which is also causing liquidity risk to increase alarmingly.
Would it be prudent for the SBS to carry out an extra on-site inspection? Because?
Case 4
La Caja Solution has made some changes to the contracts of active and passive products, specifically,
in the articles that refer to rates and commissions. These changes are highly favorable for the Fund;
Furthermore, the penalties have been placed at the end of the contract in very small print.
Do you think what was done by the Solution Box is legal?
Will it have any repercussions with the SBS?

^CERTUS)
Indicator
achievement
4
Describes the purpose
and functions of the
BCRP in matters of
regulation
monetary.
On March 9, 1922, the Reserve Bank of Peru was created.
Later, on April 28, 1931, after the recommendations of
Professor Edwin W. Kemmerer, together with a group of
experts, became the Central Reserve Bank of Peru.
There are some specialists who indicate that the BCRP is

the bank of banks, and that its purpose is to exercise
C control of the national financial system in terms of
D
monetary policy, thus regulating the daily work of
C financial institutions.
D
y
o Below we answer the following questions.
u
Is it correct to say that the BCRP is the Bank of

C. Banks?
U. What do we understand by monetary policy?
Problematic
situation
Intervention in the
exchange rate
According to the latest news, the dollar exchange rate has risen, which has
caused prices to “skyrocket”. For this reason, some experts indicate that if
the Central Reserve Bank should intervene in the banking market, to prevent
inflation from rising and starting to damage the relatively stable economy.
Source:
https://goo.gl/vSwT9J
Now, we answer the following questions:
Is it true that the BCRP can stabilize the dollar exchange rate in the market?
Does the BCRP have tools to stabilize the exchange rate?

and future of the currency, which constitutesCentral
Connection Reserve
an essential element Bank
to
of stimulate savings, attract productive investments and thus promote sustained
of Peru
growth of the economy (Central Reserve Bank of Peru, s/f).
knowledge
1. Features
© Link
b. Manage international reserves
1.1. Preserve monetary stability
According to the Political
Central Reserve Bank
a) SupportConstitution
trust in the sun of Peru (1993), the purpose of the
b) Avoid drastic(BCRP)
of Peru movements is in
to the
"preserve
sol/dollar monetary stability",
exchange rate.
following link you will that is, to reserves
International ensure that annual inflation remains within the target range (the
c) Support import operations.
nformation about current target is
(foreign currency) are2.0% with a tolerance margin of one percentage point in each
d) Prevention of external imbalances.
ng reserve requirements: direction).
resources in gold and
//bit.ly/2U2TBrr currencies other than
Thus,
the sol,the BCRP,
which the ase) an autonomous
Maintain confidenceand independent
in the entityto from
country's ability honor the central
payments on its external debt.
Government,
BCRP has to: is responsible for ineconomic
f) Prevent crises the event ofpolicy thatwithdrawals
significant includes ofmonetary
dollar deposits from banks.
policy.
c. Issue bills and coins
The 1.2.
Central Bank has
Fit within theasregulatory
one of its primary
point offunctions
view the issuance of
banknotes and coins, in such a way as to guarantee the provision of cash in
Reserve reserve is defined as the reserves of liquid assets that financial
adequate quantity and quality (BCRP, 2018).
EIT
intermediaries must maintain for the purposes of monetary regulation by Link
d. Report onthe
order of national
Centralfinances
Bank, which establishes that financial entities maintain a
In the following link you will
percentageinclude
Its functions of theirperiodically
obligations in both national
reporting and foreign
on national currency
finances. For (Central
this
find a video of the mint:
Bank of
purpose, theReserve of Peru, 2018).on its internet portal all the economic
bank disseminates
HER Glossary
publications
Legaland statistics
reserve it producesor(BCRP,
+ Additional 2018).
marginal reserve = Required reserve
Total obligations subject to reserve requirements (TOSE)
https://bit.ly/36BUryd
GH. Set of liabilities of

es subject to reserve 2. Functions of the Central Reserve Bank of
ements on which the 3. Legal aspects related to:
Peru
In the following diagram, we will observe the functions assigned to the
The legal interest It is used in operations in which interest must be charged, but the rate that the debtor must pay has not
BCRP in the Political Constitution of Peru:
rate been previously set.
The purchase and It purchases or sells foreign currency in the exchange market through its negotiation table, and mainly
sale of currencies with the Public Treasury (BCRP Portal, 2018).
They are a set of instruments and rules for the execution of fund transfer orders between its participants.
There are three payment systems:
Payment system
(1) The real-time gross settlement system (RTGS System).
(2) Electronic
Below, Clearing
we will House
detail eachS.of
TO. (CCE) and;
them:
(3) The Multibank Securities Settlement System (SLMV), managed by CAVALI.
to. Regulate currency and credit
Monetary stability is the main contribution that the Central
Bank can make to the country's economy, since, by
controlling inflation, uncertainty is reduced and confidence
Transferring
in the present value is generated.
what was
learned Crisis of 2008
The analysis indicates that the Peruvian economy managed to reduce the
impact of the first international financial crisis of the 21st century in the
United States and in some European countries (2007), due to an adequate
systemic risk control policy.
^CERTUS)
The factors that allowed Peru to overcome the crisis of 2008 without major pressures were:
1. A solid financial situation.
2. International reserves greater than all bank deposits and the total public debt.
3. A net international creditor public sector, that is, foreign exchange
reserves doubled the total amount of external public debt.
4. A well-capitalized, liquid and well-supervised banking system.
5. An under-mortgaged banking system (and country), that is, about 120,000
mortgages for a total of US$3.7 billion (10% of the portfolio).
6. The credibility of the economic team: Velarde-Carranza-Valdivieso.

a. What role did the BCRP play in the 2008 crisis?
b. Why didn't Peru suffer the impact of the crisis like Spain, Portugal, Greece?
Summary of
what was
learned
On a separate sheet, we complete the following table:
What difficulties arose in reaching the
Have we reached the achievement indicator
achievement indicator?
when working on this content? How do we
achieve it?
Now on an additional sheet, we prepare a synoptic table with the functions of the BCRP. To do this,
check the following link https://goo.gl/J37fWt
36
^CERTUS)

.
CASE 1
The professor, in an economics class, indicates that inflationary processes distort the relative price
system of the economy, which generates uncertainty and discourages investment, by reducing the
economy's long-term growth capacity.
Next, we answer the following question:
Do you think the BCRP can control the inflationary process? Because?
CASE 2
Last week, in a television program, one of the speakers indicated that if the BCRP carried out control
over interest rates, then it would prevent the market from efficiently allocating resources from surplus
agents (savers) to those with deficits (demanders). of credits), which would discourage savings and
limit the sources of financing necessary for the growth of economic activity.
Indicate if what the speaker says in the program is true and what is the role of the BCRP?
CASE 3
In the economic studies department of the financial institution where you work, they are discussing
international reserves that allow us to face unexpected capital outflows and reduce the volatility of the
exchange rate. In the case of capital outflows, the BCRP uses international reserves to provide funds in
foreign currency to entities in the financial system, thus alleviating the effects of liquidity contraction
and preventing possible drastic reductions in credit to the private sector. .
Next, we develop the following questions:
1. Indicates whether the discussion on net international reserves is supported by the BCRP.
2. Mention the specific activities where the purpose of the BCRP is manifested.
Indicator
achievement
5
Describes monetary
crimes and their
criminal
consequences.
On December 7, 2001, the Central Office to Combat
Currency Counterfeiting (OCN) was created as the
body in charge of planning and implementing
measures to combat counterfeiting and alteration of
banknotes and coins, national or foreign, which is
attached to the Central Reserve Bank of Peru.
y
o
u
m What is the OCN?
Or why was the OCN created?
Problematic
situation
“Every counterfeit bill will be

chopped”
Have you ever had a bill poked, punched, or held?
Let us keep in mind that the only ones authorized to retain for alleged counterfeiting are the financial
entities, which will send the bill to the Central Reserve Bank to verify its authenticity; Therefore, no
commercial or any other establishment can retain, chop, pierce, or destroy any type of bill, as they are not
authorized by any law; Therefore, any damage to a bill or coin can be reported to the police and/or the
BCRP.
Next, we answer:
What should commercial establishments do in the event of alleged counterfeiting?
Can I make a keychain with national coins?

^CERTUS)
Connectio Monetary crimes and

n of criminal consequences
knowledge
1 . The Central Office for the Fight against Cash
Counterfeiting (OCN) © Link
The OCN is in charge of planning and implementing the necessary measures to
combat counterfeiting and alteration of currency, that is, banknotes and coins. In the following link you will
find more information about
the OCN:
2 . Legal framework and functions http://www.ocn.gob.pe/
The OCN was created by Law No. 27583, of December 7, 2001, which was
regulated by DS No. 038-2002-PCM of May 25, 2002. It began operations at the end of that year. It is
located in the Jr. Junín 791 Lima-Cercado (OCN Portal, 2018).
In the following table, we will describe the functions of the OCN:
In the fulfillment of its functions of preventing monetary crimes and in participating in

Support the Public Ministry
operations aimed at detecting and identifying the perpetrators of monetary crimes.
Technically, financially and strategically in the fulfillment of its functions in monetary

crimes; in the identification and capture of counterfeiters of banknotes and coins. In
Support the National Police
addition, he will participate in the investigation process and in the subsequent
procedure before the Public Ministry.
Carry out preliminary

investigation and monitoring of In order to obtain an effective repression of counterfeiting and alteration of currency.
monetary crimes
Preliminary investigation of cases That they introduce you to the Central Reserve Bank of Peru, the companies of the
of currency falsification financial system and any other person, natural or legal.
Centralize custody Of counterfeit bills and coins, and study their characteristics.
Provide technical assistance and

research support To the competent authorities and support the investigation of monetary crimes.
Perform procedural monitoring

Of the cases of monetary crime covered by articles 252 to 257 of the Penal Code, in
which the OCN is constituted as an aggrieved party.
3 .Geneva Convention
The Geneva Convention of April 20, 1929, to which Peru acceded on March 31, 1970, established
international standards for the repression of currency counterfeiting.
3
9
Subsequently, on December 7, 2001, through Law No. 27583, the Central Office
to Combat Counterfeiting of Cash was created as the body in charge of planning
and implementing measures to combat counterfeiting of national banknotes and
coins. and foreigners.
4 .Monetary crimes
They are those crimes that threaten the interest of the State in the defense of the
economic system of means of payment, considered essential for the functioning
of the Monetary System (Balarezo, Es/f).
In the following table, we have the legal regulations related to monetary crimes.
either
Link

find more information about
the articles of the Penal Code Source: OCN Portal. Retrieved from https://goo.gl/n4JEEj
for monetary crime:
https://goo.gl/q6arys
In the following table, we describe the criminal consequences of the monetary crime stipulated in the
Penal Code specifically updated in Book Two: Special Part-Crimes, Title X: Crimes against the financial
and monetary order, Chapter II: Monetary crimes.
monetary crime Criminal consequence
Article 252.- Manufacture and counterfeiting

of legal tender currency Punished with a custodial sentence of no less than four nor more than
ten years and a fine of one hundred and twenty to three hundred days.
Article 253.- Alteration of legal tender Punished with a custodial sentence of not less than six months nor
more than two years and a thirty to ninety day fine.
The penalty will be from one hundred eighty to three hundred and
Article 254.- Counterfeit currency trafficking sixty-five days' fine, if the nominal value is less than a minimum vital
remuneration.
40
Punished with a custodial sentence of not less than five nor more than
twelve years and a fine of one hundred and eighty to three hundred and
Article 255.- Manufacture or introduction into sixty-five days.
the territory of the Republic of instruments
intended for counterfeiting banknotes or coins
41
Punished with a fine of not less than thirty nor more than one hundred
Article 256.- Alteration of bills or coins and twenty days' fine.
Article 257.- Extensive application (to
banknotes, coins, securities and securities of Article 257 A: Anyone who commits the crimes established in articles
other countries) 252, 253, 254, 255 and will be punished with a custodial sentence of
not less than six years nor more than fourteen years and a fine of one
hundred eighty to three hundred and sixty-five days. 257.
Sanction of 2 to 6 years of imprisonment plus disqualification of 1 to 4
Art. 258.- Illegal issuance of national currency years.
Art. 259.- Currency embezzlement
Sanction of 2 to 10 years of imprisonment plus 120 to 365 days fine.
Art. 260°- Illicit retention of currency From 2 to 4 years of imprisonment plus 180 to 365 days fine plus
disqualification.
Source: OCN Portal (2018). Retrieved from https://goo.gl/q6arys
Transferring
what was Talks to merchants and
learned workshops for authorities
In Cajamarca, talks were held on the security features of national banknotes to merchants in the model
market. Approximately 100 merchants attended. Then, in the central market,
posters about the security features of authentic cash were distributed to
attendees. In addition, two workshops were held to combat counterfeiting of
banknotes and coins for prosecutors and police, who understood the modus
operandi and counterfeiting techniques used by criminal organizations.

a. What role did the NCB play in the fight against counterfeiting?
b. Is training for the Prosecutor's Office and the National Police justifiable?
9) Reflection on 05 what was learned
On an additional sheet, we reflect on our learning by completing the following table:
REFLECTION OF OUR LEARNING

Achievements Difficulties
^CERTUS)
Now, let's create a mental map about crimes and their criminal consequences, for which we will
review the following link https://goo.gl/YHAeer
Summary of
what was
learned
CASE 1
The OCN provides support to the
National Police of Peru, in the technical,
financial and strategic aspects in
the fulfillment of its functions to
investigate and punish monetary crimes. Likewise, it participates both in the operations for the
identification and capture of counterfeiters of banknotes and coins, and in the entire process of the police
investigation until the subsequent procedure before the Public Ministry.
Can the OCN include the National Police in its strategic plan? Because?
CASE 2
Last week, a large-scale counterfeiting gang of national and foreign currency bills (dollars) was detected,
made up of subjects of various nationalities: Peruvians, Colombians and Mexicans, who will face the full
weight of the law. .
a. With which institutions does the OCN maintain a close relationship? Because?
b. Describes the monetary crime committed by the counterfeiting gang and mentions its criminal
consequence.
CASE 3
The Secret Service of the United States of America has sent a communication to the OCN about a gang of
counterfeiters who have settled in Lima, with the purpose of counterfeiting dollars and in large volumes.
Does the OCN have any interaction with international organizations?
Prepare a double entry table with the functions of the OCN. For its proper construction, review the
following link: https://goo.gl/JYRdWU
Indicator
achievement
6
Explains the
fundamentals of
Law No. 29571-2011 The Consumer Protection and Defense Code (Law No.
29571) has the purpose of ensuring that consumers have
access to suitable products and services, enjoy the rights
and effective mechanisms for their protection. To this end, it
will correct, prevent or eliminate all conduct and practices
that affect its legitimate interests. This consumer protection,
c in the social market economy regime established by the
Constitution, is interpreted in the most favorable sense for
the consumer, as established in this Code.
Next, answer the
following question:
m Why is the Consumer Protection and Defense Code
necessary in a social market economy regime?
Problematic
situation
Improper
payment
Miss Nina Bustos has filed a claim against the oncology health care provider
company, because it ignored the written message it sent to cancel the
contract, and they charged her credit card for the first installment of the new
contract that she had rejected.

Would Miss Bustos' case be included within the Consumer Protection and https://goo.gl/cbfMaE
Defense Code?
Is the charge made by the oncology services company correct?

Connection
Consumer Protection and
of
knowledge Defense Code
©
Next, we will review the main concepts of Law No. 29571, Consumer
Protection and Defense Code
Link
In the following link you will 1. Consumption ratio

find more information about It is the relationship by which a consumer acquires a product or contracts a
the Consumer Protection and service with a supplier in exchange for economic consideration (Law No.
Defense Code. 29571,2011).
https://goo.gl/qGPbC3
2. Information asymmetry
It is a characteristic of the commercial transaction by which one of the

agents, the supplier, usually has more and better information about the
products and services offered in the market to consumers (Law No. 29571,
2011).
3. acts of deception
Q Link
These are acts that have the actual or potential effect of misleading other
agents in the market about the nature, method of manufacturing or
distribution, characteristics, fitness for use, quality, quantity, price,
conditions. of sale or acquisition, and in general, on the attributes, benefits or
conditions that correspond to the goods, services, establishments or
find information about acts transactions that the economic agent, who carries out such acts, makes
of unfair competition: available on the market; or mislead about the attributes that said agent
https://bit.ly/3aYBtoA possesses, including everything that represents its business activity.
4. Relevant information
In the following table, we will review what is mentioned in Chapter II about
information to consumers in Law No. 29571.
The supplier has the obligation to offer the consumer all The information must be truthful, sufficient, easy to
the relevant information to make a decision or make an understand, appropriate, timely and easily accessible. In
appropriate consumer choice. addition, it must be provided in Spanish.
Relevant information
Consideration is given to all information without which When evaluating the information, the confusion that
the consumption decision would not have been made or would be generated in the consumer by the provision of
would have been made in substantially different terms. excessive or extremely complex information about the
To do this, it must be examined whether the omitted nature of the product purchased or the service
information distorts the conditions under which the offer contracted must be considered.
was made to the consumer.
45
^CERTUS)
5. Equal treatment and preferential customers

In the following table, we will describe both concepts separately:
Every person has the right:
Equality before the law. No one should be discriminated against due to origin,
Equal treatment
race, sex, language, religion, opinion, economic or any other condition.
Article 2, paragraph 2, of the 1993
Constitution addresses the issue of the right
to equality as follows:
1. Consign, in a visible, easily accessible place and with legible characters, the
Preferred customers text of this Law.
In Law No. 28683, which establishes 2. Issue directives for proper compliance with the Law, which must be
preferential care for pregnant women, girls, published on its electronic portal.
boys, and the elderly, in places serving the 3. Adapt your architectural infrastructure when appropriate.
public, it mentions that public and private 4. Train customer service personnel.
entities for public use must: 5. Exempt the beneficiaries of this Law from shifts or any other waiting
mechanism.
6. Complaints book
In relation to the claims book, Law No. 29571 establishes:
Complaints book Commercial establishments must have a complaints book in physical or virtual form.
Commercial establishments must display, in a visible and easily accessible place to the public, a
Display of the
notice indicating the existence of the complaints book, and the right of consumers to request it
complaints book
whenever they deem it appropriate.
Delivery of the claims Consumers may demand delivery of the complaints book to formulate their complaint or claim
book regarding the products or services offered. Likewise, commercial establishments have the
obligation to send INDECOPI the documentation corresponding to the claims book when it is
requested. In sanctioning procedures, the reported supplier must send a copy of the corresponding
complaint or claim along with its defenses.

INDECOPI sanctions
The Specialized Consumer
Protection Chamber (SPC) of INDECOPI determined that Cinemark
and Cineplanet establishments will no longer be able to prohibit users from
entering movie theaters with their own food; practice that is common in these
businesses.
Cinemas: INDECOPI orders to allow the entry of own food (February 26,
2018). Trade. Recovered from https://goo.gl/Sk77jV Source: https://goo l/ hE
^CERTUS)

a. What is the role of the Consumer Protection Commission in this case?
b. Is the intervention carried out on both companies justified?
On an additional sheet, we reflect on the achievement indicator and answer:
Does the achievement indicator reach: Explains the fundamentals of the

main concepts of Law No. 29571-201
How did I achieve it?
What difficulties arose during

the development of this
Am I satisfied with my
chapter on INDECOPI?
performance? because?
To summarize what we have learned, we transfer and complete the following table on a separate
sheet:
Concepts Main ideas

Consumption ratio
Information asymmetry
acts of deception
Relevant information
Equal treatment and preferential customers

Complaints book
47
complementary self-learning
Activities
CASE 1
Ms. Roxana Robles has filed a claim with the financial institution where she was granted a credit
card, because they have charged her a late payment fee, which does not appear in her contract.
Can the financial institution charge that commission, even if it is not included in its contract?
CASE 2
Some school education schools, at the beginning of the year, charge for concepts for which they are not
authorized; For this reason, parents always complain about these charges.
What institution is in charge of ensuring that parents are not affected by these improper charges? Because?
CASE 3
Would you like to donate coins to a charitable foundation? There are few people who have never been
asked such a question when paying for purchases at the cashier of a commercial establishment.
Furthermore, it is curious that they round the return in favor of the business, but not the customer.
a. Is it legal and correct for these establishments to ask their customers to donate their change?
b. How should INDECOPI intervene in these cases?
c. Create other examples of Consumer Defense cases where INDECOPI intervenes.
CASE 4
Mr. Renzo Giol bought, in a commercial establishment, a living room set for his house, influenced by the
advertising, which mentioned that the furniture was made of mahogany wood. However, months passed,
and the furniture began to become moth-eaten; Therefore, he complained to the store, which did not show
any interest.
Can this case be considered, by INDECOPI, as a form of fraud? What?
^CERTUS)
Indicator
achievement
7
Values the importance
of suitability and
truthfulness in
consumer information.
Currently, in our society, the main actors (producers of
products and services, and consumers) are in the
market game; The former (producers of products or
services) have as their motto that they must be noticed
in the market, through the use of various
communication tools, since they have developed the
awareness that commercial, business and advertising
maneuvers have no limits, this That is, the more astute
and aggressive the seller is in his tactics, then the better
his financial success will be. However, these maneuvers
represent fraud and harm the interests of consumers,
since they are harmful and mark differences between
producers and consumers.
y
o
u
Is this situation that arises really everyday?
Is it perhaps that we are facing a lack of values?
c
u
Problematic
situation El Karibeñito Regalón
Hundreds of users went to the headquarters of the newspaper La Karibeña,
people in the district of Chorrillos, to claim the money from the 'El
located in Karibeñito Regalón' raffle, after they were
won
paid in
lower amounts and were given other items, such as notebooks and
highlighters
La República newspaper (November 6, 2019).
Retrieved from https://cutt.ly/7rK16jr
What is the newspaper La Karibeña exposed to by not recognizing the

amounts its readers earned?
What could happen in the future if the newspaper does not comply with the
offered prizes?
Could the newspaper La karibeña excuse itself from not paying the prizes
simply by indicating that it was a printing error?
49
Connectio Suitability of
n of information to the
knowledge client
1 . Suitability of information to the client
According to the Consumer Protection and Defense Code (2011), suitability is
understood as the correspondence between what a consumer expects and what he or
she actually receives, based on what was offered in the advertising and information
transmitted. in the conditions and circumstances of the transaction, in the
characteristics and nature of the product or service, in its price, among other factors,
which take into account the circumstances of the case.
For the purposes of defining the suitability of a product or service, the term How is the suitability of
warranty must be used, which must be understood as a parameter of suitability that a product or service
includes the legal warranty, the express warranty and the implied warranty. determined?
The guarantee is express when it is derived from the terms and conditions expressly offered by the
supplier to the consumer (advertising, contract, labeling, etc.). On the other hand, the guarantee is
implicit when, in the absence of silence from the supplier or the contract, it is understood that the
product or service meets the foreseeable purposes and uses for which they have been acquired by
the consumer considering, among other aspects, the uses and market customs (Consumer Protection
Guidelines, 2016. Recovered from https://goo.gl/ ZqQEoQ).
2 .Truthfulness of information to the client

In the Consumer Protection and Defense Code (2011), the following is mentioned in the chapter on
consumer information in relation to the veracity of customer information:
The information must be truthful, sufficient, easy to understand, appropriate, timely and easily
accessible, and it must also be provided in the Spanish language.
“Misunderstanding at the Bank”
A client approached the bank to request the opening of an account, term deposit, for a period of one
year. When assisted by the Customer Service Platform, he was given a brochure that he received
from a service representative, in which indicated that the interest rate was 5. 5% TREA, but the
Service Platform will
^CERTUS)
He clarified that it was an error, since the rate for that day had changed to 4. 5%, in addition, they
no longer had new brochures, which is why they could no longer open the term deposit with the
previous rate.
a. If the client files a claim, can it be attended to by the financial institution?
Why?
b. Can the bank be sanctioned for not having updated brochures? Explain
your answer.
Summary of
what was
learned On an additional sheet, we transfer the following table and answer the
reflection questions posed:
Where in this chapter did I have Do you feel satisfied with what you
comprehension problems? How did I Can you apply what you learned to have learned? Why?
overcome them? solve financial cases?
Now, on a separate sheet, we prepare a synoptic table on the suitability and truthfulness of
consumer information, for which we review the following web link: https:// goo.gl/BaBC2V

.
CASE 1
A client reported to INDECOPI that the financial institution that granted him a loan was applying an
onerous and harmful interest rate, which he had not been informed of; However, the financial
institution stated that the application of said rate was communicated to it at the time of the contract, so
it was authorized to demand its payment.
Below, we answer the questions:
a. Has the financial institution acted in accordance with the legal standard? Judge his behavior.
b. Asks a question related to the suitability or veracity of the information
delivered to the client.
51
CASE 2
A consumer reported that, when he went to a bank branch to request a credit card, the bank denied his
request without providing any explanation; For its part, the banking entity indicated that it acted in the
exercise of its constitutionally recognized freedom to contract.
Formulate and argue an assumption about the possible response that the Consumer Protection and
Defense Commission should have given.
CASE 3
A consumer reported a financial institution, because the executive of that bank, to whom he endorsed a
check in his name to give him preferential treatment for the deposit of his money, and that he would
receive a monthly interest of US$ 2,000 .00, which would be credited to his savings account, did not
comply with what was agreed. The client's lawyer stated that his client made the decision to endorse the
check based on the promise of the accredited official of the bank to obtain interest, that the transaction
was carried out within the facilities of an agency of the bank, among others, which produced legitimate
confidence in the consumer that the transaction was valid and payable to the financial institution.
Next, we answer the question:
Does the client have sufficient reason to initiate an action before INDECOPI? Because?
CASE 4
A user of a financial institution approached the platform of a banking agency and requested that they
provide him with a savings contract, because he was planning to open a savings account, but was
denied, because he was told that he could only provide such contract at the time of account opening.
Did the platform act in accordance with current regulations? Explain your answer
^CERTUS)
Indicator
achievement
8
Describes the
particular
elements of the
contract of
consumption.
In Peru, provisions, regulations and standards on
consumer contracts have been studied, reviewed and
issued, especially in relation to the financial system,
which were the “flagbearers” of fine print and abusive
clauses. As a consequence, currently, efforts have been
made to balance these contracts, seeking to ensure that
there is information asymmetry between the parties to
the contract. This asymmetry is due to two reasons: one,
that the supplier is the one who has the greatest
knowledge of the area of its business, and the other, that
the supplier is the one who writes the general
contracting clauses; For this reason, the contracts that
(D are used in the contracting of products and/or services
. of the financial system are reviewed by the SBS.
Now, we answer the following questions:
y
o
u
3
cu What is sought with information asymmetry?
.
m Do abusive clauses still persist in financial system
contracts?
Problematic
situation
Contract Annexes
The legislation in Peru obliges financial institutions to deliver to clients, in
addition to the main contract, some “summaries” of said contracts, which in
practice are known as the “summary sheet” for active products and the “
information booklet.”
Both annexes are part of the contract, and must be signed by the client and
the bank representative. The client should then receive a copy of both the
contract and the addendum.
Do you think these contract summaries are beneficial for the client?
Is the client's signature on both documents important?

Connectio Consumer contract
n of
1. knowledge
Definition
It is one that has “as its object a legal patrimonial relationship in which a consumer
and a supplier intervene for the acquisition of products or services in exchange for
economic consideration.” Q
Link
2. General features In the following link you will
In consumer contracts, the following must be observed: (Consumer Protection and find information about the
Defense Code, article 47): Consumer Protection and
Defense Code:
https://goo.gl/Vam7g7
The consumer's willingness to contract must be unequivocally stated. It is the supplier's
Will of contract responsibility to establish in the contract the restrictions or special conditions of the product or
service made available to the consumer.
Clauses cannot be included or practices carried out that impose onerous or disproportionate
Obstacles
obstacles to the exercise of the rights recognized by the consumer in the contracts.
Termination of Consumers have the right to use the same mechanisms of form, place and means used to
contract conclude contracts to separate themselves from these.
The characters of these must be adequately legible for consumers, and must not be less than
Contract forms three (3) millimeters. The wording and terms used must facilitate their understanding by
consumers.
Documentation
delivery Written contracts: the provider must provide the user with a copy of the contract and other
documentation related to said legal acts, including the general contracting conditions.
3. General contract clauses and adhesion contracts

The following requirements must be met (Consumer Protection and Defense Code, article 48):
It must be specific, clear and simple, with the possibility of direct understanding, without
reference to texts or documents that are not provided prior to or simultaneously with the
Drafting
conclusion of the contract, and to which, in any case, express reference must be made in the
contractual document. .
Accessibility and It must allow the consumer and user prior knowledge of the content of the contract before
readability signing.
Good faith and It is necessary in the rights and obligations of the parties, which, in any case, excludes the use of
balance abusive clauses.
Note: Applies to contracts concluded based on the general contracting clauses, whether or not they are
subject to administrative approval.
^CERTUS)
Q
4. Unfair terms
Abusive clauses are all those non-negotiated stipulations that, contrary to the
requirements of good faith, cause, to the detriment of users, a significant imbalance
Link in the rights and obligations of the parties arising from the contract （…）”.
will find more
information about the 5. Administrative approval
abusive clause:
Article 54 of the Consumer Protection and Defense Code, in relation to administrative
http://goo.gl/fSWRrL
approval, mentions the following:
Consumer contracts entered into by

public service providing companies, The administrative approval of the general contracting
whether or not subject to economic clauses is the responsibility of the competent regulatory
regulation. body, in accordance with the law of the matter and the
provisions issued for this purpose.
Consumer contracts concluded by The administrative approval of the general contracting
companies subject to the supervision of clauses corresponds to said entity, in accordance with
the SBS the law of the matter.
6. Modification of contractual clauses

In approving general contracting clauses, the administrative authority identifies
abusive clauses and issues general rules that prohibit their inclusion in future
contracts.
Mr. García denounced the “Arriba Perú” bank for having applied another interest rate
different from the one agreed upon in his term deposit of S/ 30,000, for a period of 2
years. Thus, he indicated that he only canceled his deposit one month before the
expiration, and that for this reason, the bank “Arriba Perú” lowered and recalculated
the interest rate to that of a savings account, so he is not willing to accept that rate,
even though it is written in
the contract, considering it “Breach of contract”
abusive, since the bank has
used its money for 23 months.
Do you think Mr. García will get the bank to recognize the interest rate of the contract,
despite the missing month? Because?
Could the bank be penalized for lowering the interest rate?

On an additional sheet, we reflect on what we learned:
Describes the activities performed to What difficulties did you encounter in the I feel satisfied with what I have
describe a contract learning process? How did you resolve learned, why?
these difficulties?
Now, let's create a concept map about the consumer contract, to do this, check the following link
https://goo.gl/brF58A
Summary of
what was
learned
CASE 1
Two years ago, Ms. Elsa Vargas was granted a loan for S/ 20,000 for a three-year term. But, since a few
weeks ago, she received an excellent bonus from the company where she works, she approached the bank to
make a capital account payment for S/ 7,000. Despite his intention to pay in advance, the bank's head of
operations told him that he could not carry out such an operation, because such a restriction was indicated in
the contract.
What characteristics should the contract have had so that what happened to Ms. Vargas did not happen?
CASE 2
A client of a financial institution opened a time deposit for the amount of S/ 100,000, but when he requested
his copy of the contract and his information booklet, the lady from the customer service platform told him
that those documents were confidential to the bank, and that only with authorization from the manager
could they be delivered. Given this, the client told him that a competing bank did not do this.
Compare between what the lady on the platform says and what the client says.
Which of the two is correct? Because?
^CERTUS)
CASE 3
The financial company Futuro has hired a new legal advisor, who has indicated that the contracts for passive
products, assets and services are outdated, and therefore, it should review them to issue new ones, to
immediately make them available to financial users. However, the business manager told him that the
contracts cannot be made available, because he must first communicate the changes to the SBS.
Examine whether the observation made by the business manager is correct.
CASE 4
The legal department of Caja “Las Alturas” has just renewed its contracts for active products, but one of the
lawyers has stated that a clause is abusive, so they may have problems with the SBS and INDECOPI; On
the other hand, another of the lawyers has indicated that there is nothing to worry about, since no one reads
the contracts, and therefore, one can take financial advantage of this clause.
a. Examine, if what is indicated by both lawyers is correct, why?
b. What are the similarities and similarities between an abusive and non-abusive clause?
Indicator
achievement
9
Explains abusive
commercial conduct
within commercial
activity
In the commercial operations of companies, acts are
carried out aimed at increasing their sales and attracting a
greater number of consumers. However, many times
these acts exceed the parameters of what is considered
healthy business conduct, and consumer rights are
violated. Such is the case of some companies in the
financial system, who charge, to their clients' accounts,
C insurance that has not been requested and/or contracted.
D
Is this practice of some financial institutions correct?
Can the client claim their money back?
Problematic
situation
Abusive collection
methods
A few years ago, collection was very controversial, since it was carried out
through very unconventional actions, that is, very aggressively, with threats
and insults. In some cases, the same manager carried out the collection
accompanied by thugs; In others, they harassed the debtor by calling him at
dawn, or the employer, to indicate that his collaborator was a delinquent
debtor, or they placed men in yellow clothing at the door of the home with
signs indicating that, in that house, a person lived who did not pay his bills.
debts. All this happened because there was a lack of legislation to protect the Source: https://goo.gl/y97mdk
debtor from these abusive collection methods.
Do you think these collection methods would have good results in these
times?
Could good management results be achieved through these collection

methods?
58
^CERTUS)
Connectio
n of
knowledge Abusive business conduct
1. Coercive trading methods
Article 56 of the Consumer Protection and Defense Code establishes, as
coercive commercial methods, the following:
a) In contracts of continuous duration or successive term, condition the sale of a product or the provision of a service to
the acquisition of another, unless, due to their nature or in accordance with commercial use, they are complementary.
The offer of non-complementary products or services must guarantee that they can be offered separately.
b) Forcing the consumer to assume benefits that have not been agreed upon, or to make payments for products or services
that have not been previously requested. Under no circumstances can the consumer's silence be interpreted as
acceptance of said services or payments, unless the consumer has expressly authorized it in advance.
c) Modify, without the express consent of the consumer, the conditions and terms under which they purchased a product
or contracted a service, including if the provider considers that the modification could be beneficial for the consumer.
The consumer's silence cannot be presumed as acceptance, unless he has expressly authorized it in advance.
d) Complete incomplete forms, formats, securities and other documents issued by the consumer, in a manner other than
that expressly agreed upon at the time of subscription.
e) Establish unjustified or unreasonable limitations on the consumer's right to terminate a contract when that right has
been legally or contractually recognized, or to use the same mechanisms of form, place and means used in the
execution of contracts to disassociate from them.
f) Taking improper advantage in contractual relationships of continuous duration or successive duration, in those
situations in which changing a supplier is significantly costly for the consumer.
g) Require the consumer to present unnecessary documentation for the provision of the service contracted or the delivery
of the purchased product, being able, in any case, to require only the necessary, reasonable and relevant documentation
according to the stage in which the provision of the service is. product or execution of the service.
2. Aggressive or deceptive trading methods

According to article 58 of the Consumer Protection and Defense Code, the
following are considered aggressive or deceptive commercial methods:
a) Create the impression that the consumer has already won, that he will win or will get, if he performs a certain act, a prize or any
other equivalent advantage when, in reality, this is not the case.
b) The change of the information originally provided to the consumer at the time of contracting, without the express and informed
consent of the consumer.
c) The change in the conditions of the product or service before the conclusion of the contract, without the express and informed
consent of the consumer.
or
^CERTUS)
d) Make in-person visits to the consumer's home or make unsolicited proposals, by telephone, fax, email or other means, in a
persistent and impertinent manner, or ignoring the consumer's request to cease this type of activities.
e) Use call centers, telephone calling systems, sending text messages to cell phones or mass electronic messages to promote products
and services, as well as provide telemarketing services, to all those telephone numbers and electronic addresses that have been
incorporated into the registry implemented by Indecopi.
f) In general, any practice that involves fraud, violence or intimidation that has been decisive in the consumer's willingness to contract
or consent.
3. Abusive collection methods

According to article 62 of the Consumer Protection and Defense Code, the following are abusive collection
methods:
at 11 II I mm m mm ' m ' ■ I
a) Send the debtor, or his guarantor, notifications or judicial writings.
b) Make visits or telephone calls between 8:00 p.m. and 7:00 a.m. or on Saturdays, Sundays or holidays.
c) Placing or displaying posters or writings in public view at the home of the debtor or guarantor, or in locations other than these,
requiring payment of their obligations.
d) Locating people with signs alluding to the debt, with unusual clothing or similar means, in the vicinity of the debtor's home or
workplace, requiring payment of an obligation.
e) Disseminate lists of debtors and payment requirements through the media without a court order.
f) Send communications or make calls to third parties unrelated to the obligation informing about the consumer's late payment.
g) Send account statements, invoices payable and collection notifications to the address of a third party unrelated to the consumer
relationship.

"Lack of information"
In 2014, the Peruvian
Association of Consumers and Users (ASPEC) denounced a bank for alleged
violations of the Consumer Protection Law, during the provision of banking
services, because it had been making maintenance charges. to the holders of a
type of savings account, despite the fact that in the advertising of the product, it
offered that it would not charge any amount for said concept. In its defense, the Peruvian Association of
Consumers and Users
bank pointed out: that the account was free, and that the charge corresponded
to the debit card, which was used to access all the Bank's transactional means, Source: https://goo.gl/fqr3Wf
as well as the terminals and ATMs. In addition, he said that the debit cards
were operated by the MasterCard company, which charges a commission of
US$ 1.00 per month for each card, which is charged to the accounts of the holders.
6
0
a. In your opinion, do you think that the bank has proceeded well in collecting
account maintenance? Why?
b. Is ASPEC's complaint supported by the Consumer Protection Law?
Transcribe the following table on a separate sheet of paper and answer the questions
posed to reflect on the learning:
Summary of
what was
learned
What difficulties did you encounter in the development of the
activities carried out in the classroom?
How did you resolve these difficulties?
Will what you learn be useful? Why?

Now let's create, on a separate sheet, a visual organizer about abusive commercial behaviors with their
respective examples.

.
CASE 1
On April 1, 2015, Mr. Barrera reported to Banco Confidencial, which granted him a loan for $13,000.00
and charged him an amount of $306.49, as a penalty for early debt cancellation. In its defense, the bank
stated that it was entitled to charge a commission for early debt cancellation, since, in the loan contract, it
was agreed that the total payments were subject to the payment of a commission (3%).
State, if what is indicated by the bank is correct? Why?
CASE 2
In October 2016, Mrs. García reported a company that sells household appliances and its financial company,
because they were charging her excessive interest, and in addition, they did not respond to her claim. In this
case, INDECOPI indicated that companies outside the financial system must respect the maximum interest
rates set by the BCRP, which amounted to 25.03% for compensatory interest, and 3.60% for default interest.
However, despite the fixed rates, the defendant applied a compensatory interest rate of 146.41%, despite the
fact that in the contract it was agreed that it would be 53.16%, in addition, it applied the same rate of 146.41
% to calculate default interest.
Next, we answer:
Identify the reasons why the company would be using abusive collection methods against Ms. García.
CASE 3
Mrs. León has denounced the Nuevo Futuro company (marketer of household appliances) for using prohibited
collection methods and arrogating powers that correspond to the Judiciary, for having sent Mrs. García a
communication in which she indicated the following: “ Therefore, if we do not receive a favorable response from
you today (payment), we will appear tomorrow to collect the collateral guarantees.”
If you do not comply with our payment request and you will not be at your home on the day we are going
to pick up the merchandise, please leave it with a neighbor, otherwise, we will make effective the
promissory notes with the guarantee to achieve the recovery of the debt. ” .
Next, we answer:
Indicate whether the company's action is abusive commercial conduct, and explain why?
Describe the characteristics of abusive business conduct.

^CERTUS)
Indicator
achievement
10
Assesses the
functions and
importance of the
customer service
system and the
Financial Customer
In 2003, the Association of Banks of Peru created the
Financial Customer Ombudsman Office (DCF), in order
to offer free arbitration and mediation services between
Ombudsman. clients and financial entities for cases in which the
customer service department of the institution fails to
resolve the conflict within 30 days from the date of
presentation of the claim. This mechanism, in which
most banks participate, is not well known by clients, who
have the obligation to complain in writing. Approximately
51% of cases are resolved in favor of the client.
(D
.
y
o
Next, we answer the following uquestions:
3 Do you know some aspects of DCF?

Do you think this is an alternative for
cu clients of the national financial system?
.
Be careful with the change!

ematic
They are surprised by criminals when they have
tion tried to carry out an operation through an ATM. Typically, a stranger approaches and offers help,
stating that the ATM is malfunctioning or that your card is dirty. At that moment he exchanges it for
Many customers another and leaves, taking his own, but not before observing the entry of his password with the fake
card. This way they already have the card and the secret key, and they make withdrawals from their
accounts.
Source: Financial Client Ombudsman. (2006). Be careful with the change! Retrieved from
http://www.dcf.com.pe/noticias/indexb25f.html?noticia=4
We answer:
Does DCF have the function of alerting citizens of these cases? Because?
What do you think other functions of DCF might be?

Customer Service System
Connectio
User and Ombudsman
n of Financial Client
knowledge
1. User support system
The User Service System provides a general and specific framework, as an operational guide, that facilitates
the work carried out by the operators of the User Service System in the processing and solution of queries,
requirements and complaints presented by clients, in such a way that its actions are transparent, effective,
proactive and predictable.
In accordance with Circular No. G-184-SBS-2015, companies must have manuals to address user
requirements.
2. Absolution of queries and complaints

to. Consultations
These are communications through which the company is intended to provide certain information in a
situation of uncertainty, ignorance or doubt related to the operation, product or service offered or contracted
by the company (Circular No. G-184-SBS-2015). .
b. Claims
Claims are communications presented by users or by third parties on behalf of
users, in which they express their dissatisfaction or the impact of their legitimate
interest in the operation, product or service received, or for non-compliance with
the obligations contemplated in the contracts. or current regulatory framework
EIT
HER
(Circular No. G-184-SBS-2015).
To handle complaints, companies must:

Link
Have a support system for Have trained and
Have manuals for
Make complaint the claims attention system, Record all complaints specialized
handling complaints
reception channels which can be physical or made by users on personnel.
available to users. virtual. computer support.
about queries and
4. Financial Customer Ombudsman (DCF)

The Financial Client Ombudsman Office in Peru was created in April 2003. Its purpose is to ensure that the
relationship between clients and entities providing financial services develops within a framework of good
faith, equity and mutual trust.
Portal of the Financial Client Ombudsman.
Retrieved from https://cutt.ly/KrK0QrC
^CERTUS)
to. Features
We observe the following synoptic table with its functions according to article 7 of the
Regulation of the Financial Client Ombudsman.
Resolve complaints that clients raise against financial institutions.

Permanently promote conciliation between clients and financial entities during the claim
procedure.
Formulate and present to ASBANC reports and any proposals aimed at promoting good
relations between financial entities and clients, as well as preventing, reconciling or
resolving conflicts between them.
Provide general information to parties or bodies with legitimate interest about the scope
of the Ombudsman's functions and the procedures under its jurisdiction. This
information does not constitute an advance of opinion or any connection with respect to
the claims.
Request information from the financial entities linked to the claim procedures and with
respect to those that, in their opinion, are of interest to inform about the rights of the
clients.

Indignation
Miguel Agurto, being in poor health, received notifications to pay a debt of S/ 22
thousand for loans that he never requested. When he went to Banco VLM, they told
him that four withdrawals were made in his name, of S/ 7,250, S/ 5,800, S/ 5,000 and
S/ 3,500. When he requested information about how the disbursement process was
carried out, the entity told him that it was investigating.
a. What should be the procedure for Mr. Miguel Agurto's
claim?
b. What characteristics does a claim have?
c. How would you judge VLM Bank?
9) Reflection on "9 what was learned
On additional sheets, we reflect on what we learned by answering the following

questions:
What difficulties did I have in How can what I learned contribute in situations
How did I overcome
developing the proposed them? of queries and complaints before financial
activities? entities?
Now, let's create a mental map about the functions of the Financial Client Ombudsman.
Summary of
what was
learned
CASE 1
A particular case is that of
Banco Continente, which
disseminates, through
advertisements and
brochures, benefits in the payment of interest “from the first sol or dollar saved” by its clients. But, in a table
published on the website of the Superintendency of Banking, Insurance and AFP (SBS), it was possible to
verify that the bank indicated that, for an initial deposit of S/ 1,000, the annual effective rate of return is
negative ( -7.1%), as was also the case for an initial amount of S/ 3,000 (-1.55%).
a) Could this case be an inquiry or complaint to DCF?
b) Contrast a query and claim in a table.
CASE 2
Although it is stated in the (banking) contracts, unfortunately, there are many (credit) cards where the
consumer is told that there will not be an additional charge, and he, confident, decides to keep it, and after a
year, receive one account per membership.
Share your conclusion with your teammates. And support your answer
CASE 3
In the newspaper Gestión, in an article published on 05/08/2107, about credit cards and loans, the following is
indicated: "Many complaints are related to doubts such as how much should I be charged?; What is the
interest that Does it apply to me for late payment? Here, there are many information problems, since the user
is not clear about why they are charged what they are charged."
Formulates and supports a possible answer to these questions, from the point of view of DCF.
CASE 4.
A client states that he had very bad service from the bank for his credit card; since they do not deliver their
account statement, which harms the consumer, by informing them that they may have an account pending
payment, and that therefore, their credit card is blocked.
Judge, if this case can be resolved by DCF, why?
^CERTUS)
achieve
ment
indicator
1
1
Deduces the main errors
on the part of financial
institutions related to
consumer protection.
When we have a problem with a financial institution
due to poor service or a deficiency in one of its
products, then we think about filing a claim, but the
question immediately arises if this will proceed and
how we should do it. The website of the
Superintendency of Banking and Insurance (SBS)
recommends filing a claim, complaint or complaint in
the following cases:
y Next, we answer:
o
u m Do you know what to do when you feel dissatisfied
O
or with a banking product or service?
3 Or what institutions can we turn to to express our
O
cu disagreement?
Problematic
situation
Where can I report a bank?
Every time we have a problem due to poor service or the deficiency of a financial or banking product, we
think of INDECOPI, but we have also heard about other bodies such as the User Service Platform (PAU)
and the Financial Client Ombudsman (DCF). ).
So, what is the most satisfactory way to resolve a claim or complaint about a poor banking or financial
product or service?
What role does the Financial Client Ombudsman play?
6
7
Errors by Financial
Connectio
Institutions related
n of
knowledge to consumer
protection.
1. Frequent cases of complaints.
The cases of complaints from users of the national financial system, in 2017, received by the
Financial Client Ombudsman , of a total of 1,942, we have the following:
PRODUCT PARTICIPATION NUMBER OF CASES

PERCENTAGE
Credit card 62.26 % 1,209
Savings deposits 18.59 % 361
consumer credits 6.49 % 126
Current accounts 4.74 % 92
Other operations and services 3.55 % 69
Mortgage credits 2.88 % 56
CTS 0.72 % 14
Term deposits 0.67 % 13
Leasing 0.05 % 1
MONTH Credit 0.05 % 1
The most frequent are:

♦ A consumption on my credit card that I do not recognize having made.
♦ A withdrawal from my savings account that I do not recognize having made.
♦ The financial institution has charged me an unagreed commission.
♦ I do not agree with charging interest for overdraft.
Cases in which DCF cannot intervene:
♦ I didn't like the way an employee of the financial institution treated me.
♦ The financial institution denied me the requested credit.
♦ The financial institution granted me a loan with a rate that I consider high.
2.Recommendations for prevention

It is important, to prevent the problems that arise in the financial system and its clients, the culture
of reading all documents before signing them. With this essential measure, we would be preventing
more problems than we imagine.
3. Claim resolution deadlines.
Article 15. DEADLINE TO RESOLVE. The Ombudsman has a maximum
period of sixty (60) calendar days, counted from the date on which the claim
was presented to the Ombudsman's Office, to issue the resolution that puts an
end to it.

“DCF Functions”
While a user of the financial system was
traveling for a few months, maintenance was charged on his savings account,
even though his contract indicates that the account is maintenance-free. He
has presented his claim to the bank, but more than 30 days have passed, and
they have not responded.
a. In your opinion, can the client present their claim to DCF if the entity does
not respond?
b. Can DCF act, in this case, even though there is no response from the
bank?
Transfer the table to an additional sheet of paper and answer the following
questions:
What activities did I carry out to achieve the indicator?

What difficulties did I have? How did I overcome them?
How useful is what I learned?
Now, let's create a mental map of the main errors that financial institutions make, which are
reported to the DCF.
69
.
CASE 1
A bank purchased debt from a client, at a rate of 11% and a term of 36 months. When the client
receives the account statement the following month, to make the payment of his first installment, he
notices that the rate is 17%. Given this situation, the client approached the bank to make the
corresponding claim. The bank defended itself by taking out a copy of the Summary Sheet where the
17% rate was recorded. Finally, the client made his claim, but the bank rejected it; Therefore, he
submitted his claim to DCF.
Describe the characteristics that the case meets so that DCF can mediate.
CASE 2
A client obtained a mortgage loan, and was assisted by a personal banking credit seller, who offered
him the loan with the Annual Effective Rate, instead of the Annual Effective Cost Rate, which has
caused the client to have a payment greater than what was offered. For this reason, the client has
presented his claim to the bank more than 30 days ago, but it has not responded.
Considering that the case is already more than 30 days old, can the client submit their claim to DCF?
and assuming it is more than 90 days, can the client still file their claim with DCF? Why?
CASE 3
Mr. Juan Del Toro Hurtado has approached the financial institution where he opened a savings account,
in which they are charging him S/ 16.00 for insurance that he has not contracted. When submitting the
claim, they responded that it is indeed debit card insurance, which they contracted a month ago; so he
requested a copy of the contract. When reviewing the contract, it is indeed signed by him, but he
assures that the teller told him that it was a data update.
In the case presented, can Mr. Toro have a positive response from DCF? Because?
CASE 4
Mr. Fabio Dávila, on March 23, 2018, sent a transfer to Cajamarca, which never reached its destination,
which is why he presented his claim. Likewise, Mr. Dávila has stated that the beneficiary approached
the agency on several occasions, but they told him the transfer had not arrived. When presenting the
claim to the bank, it reviewed the transfer document, and realized that the client had entered the name
of the beneficiary incorrectly, so the bank stated that the rectification would cost the “rectification
expenses.” But, Mr. Dávila is not willing to pay them, because “only the order of the surnames is
altered.”
According to what was seen in this session, could Mr. Fabio Dávila be a beneficiary or receive a
favorable resolution? Why?
^CERTUS)
Indicator
achievement
12
The regulations of
the Financial Client
Ombudsman apply.
When contracting, using or canceling a product or

service, inconveniences or problems may arise.
c
Do you know that, if you have a dispute problem

y
o with your bank, you have the right to presenting
u complain, request that confusion be aspects
clarified and errors be resolved?
Do you know how to proceed in these cases?

c
u Do you know who to turn to, to formulate your claim?
Fraudulent consumption and cloned cards

INDECOPI indicates that the product that generates the most discomfort is credit
cards, because they are associated with a series of problems due to fraudulent
consumption, because they are susceptible to being cloned and stolen to subsequently
carry out consumption that is not recognized by commercial establishments. , which do not take adequate security measures to identify
the user or online, so the consumer is unaware of these consumptions and files a claim.
Can these claims be addressed by DCF?
either
Connectio
Ombudsman Link
n of Financial Client In the following link you will
knowledge find information about the
regulations of the Financial
1. Normative Client Ombudsman:
https://bit.ly/31937uF
The Regulation of the Financial Client Ombudsman was approved by the Board of Directors of the
Association of Banks of Peru on April 22, 2013.
“Breach of contract”
Transferring
Mr. José Luis Corrales has filed a complaint against the financial company El Sol,
what was
for having denied him the loan he requested, because when the evaluator went to
learned his business, he told him that the next day, in the afternoon, he could stop by the
agency. the financial company to collect the credit; However, the credit was not approved; but Mr. Corrales went ahead to buy the
merchandise he required for his business. This fact has harmed him, because he requested a loan from a “lender” at an interest rate
of 30% per month.
a. Check if Mr. Corrales can submit his case to DCF.
b. Can the financial company El Sol be forced to grant credit to Mr. Corrales?
On an additional sheet of paper, copy the following table and answer the
questions that will allow you to reflect on what you have learned:
Describe the usefulness of
How did I overcome what you learned.
What strategies and resources allowed me to difficulties during the learning
understand the regulations of the Financial process?
Client Ombudsman?
Can the regulations of the Financial Client Ombudsman be applied to all cases?
What new knowledge have we managed to acquire? What will they be used
for?
Summary of
what was
learned
Now, let's create a concept

map about DCF regulations.

.
CASE 1
Mr. David Bravo opened a savings account in a local bank, however, at the time of opening it, they told
him that his account was exempt from the maintenance fee. But, as time goes by, the client realizes that
they are being charged S/ 18.00 monthly. For this reason, he files a claim, but the bank defends itself,
stating that this commission is due to excess operations.
Check, how can DCF solve Mr. Bravo's problem?
73
CASE 2
A client requested a personal loan from the regional financial institution. When signing the contract, the
lady from the customer service platform tells you that you must sign the lien insurance and the
financial protection insurance; then, the client accepts, since if he does not subscribe to this last
insurance, the rate will increase. Later, when the client carefully reads the insurance contract, he
realizes that there is a regret clause, so his rate will not change. However, they tell you that if you do
not sign, the loan will not be disbursed. In the end, he signs, but presents his claim, which is denied.
This case reached DCF, the decision must agree with…
Because?
CASE 3
Mrs. Juana La Cruz Solar, a month ago, came to collect five transfers that her brothers were sending
her from different parts of the country to purchase medicines for her mother who is in poor health. The
next day, she showed up at the agency indicating that she had not collected one. She remembers that
she signed only four receipts, but when she requests the missing transfer, it is already downloaded. She
has filed the claim, but the main office sent the images by mail from the file, and indeed, in one of the
transfers, the signature differs, that is, it does not correspond to the client.
Below, we answer the questions:
a. Check the validity of Ms. La Cruz's claim.
b. Can the case be resolved by DCF? Why?
CASE 4
Mr. Carlos Quiroga has filed a complaint with the DCF because, a month ago, he approached the bank
to make a payment for an amount much greater than his credit installment, approximately the value of
four installments. But, since he did not indicate anything, the teller took it as an advance payment of
installments, and not as amortization of capital, which is why the amount of the other installments has
not decreased. In reality, what the client wanted was to reduce the amount of his fee and for the term to
remain the same. At the bank, they have told him that the operation can no longer be reversed.
Describe the rationale that explains why DCF can act in this case, where the client is seriously affected.

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TEXT FOR LEARNING

From the Didactic Unit:

APPLICATION OF FINANCIAL SYSTEM

I Banking and Financial

How to use this text for learning

(9 Situation Reflection on what was learned

Connection (. Summary of the

(Complementary self-learning activities

Achievement indicators and attitudes

errors on the part

Behaviors Suitability and

Presentation of the teaching unit (UD)

Summary of what was learned........61

Problematic situation: Banco Solidez.. 13

bankruptcy, consequently, no one will be able to recover

Next, let's answer the following questions:

Why is it important that there be a deposit insurance fund?

Savings protection mechanisms and ways to mitigate their risk

Who is protected by the

The banking secrecy

1.2 . Ways to mitigate the risk for the saver

Minimum capital and application of profits

banking company S/ 27,484,715

Description of the protection mechanism or

Reflection on what was learned

What will they be used for?

b. Explain whether deposits would be protected by bank secrecy.

Miss María del Pilar Rivarola, who works on the customer

3 Is training necessary for María del Pilar on the topic

Will there be any regulations for this type of case?

1.2. The Financing of Terrorism (FT):

2. Main aspects related to the ML/TF Prevention

♦ High-value vehicle dealers: airplanes, boats, luxury cars

Customer and market knowledge

• Identity verification of natural and legal persons.

• Identification of the target market.

3. Knowledge of the correspondent bank

Reflection on what was learned

Complementary self-learning activities

What warning sign are we referring to in this case?

Can anyone from the financial institution notice this operation?

What risk would the bank and its client be assuming?

Next, we answer the following questions:

Should banks inform the SBS about changes to their contracts?

1. The Superintendence of Banking, Insurance

4. Mandatory reports to the SBS

b. Daily information on interest rates in MN and ME.

d. Report of economic groups of debtors.

f. Information Report on Financial Statements of Commercial Debtors.

Next, we answer the following questions:

Complementary self-learning activities

What are you going to review?

Could La Financiera be sanctioned? Because?

Will it have any repercussions with the SBS?

There are some specialists who indicate that the BCRP is

Is it correct to say that the BCRP is the Bank of

Does the BCRP have tools to stabilize the exchange rate?

GH. Set of liabilities of