ACM LEGAL

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FEDERAL LAW FOR PREVENTION AND IDENTIFICATION OF TRANSACTIONS WITH RESOURCES OF ILLEGAL ORIGIN

 On October 17, 2012 this law was published in the Federal Official Gazette (DOF); and broadcasted in the media as “Anti-Money Laundering Law”. Such regulation was inforced on July 17 and its rules of procedure will be issued in August of this year.

By means of this law several procedures were set forth in order to detect illegal transactions involving funds, which mean greater surveillance by the authority in all financial and commercial transactions which take place in Mexico.

The purpose of this law is to protect the National Financial system and economy, establishing measures and procedures to prevent and detect acts or transaction which involve resources of illegal origin.

 
THE ENFORCEMENT OF THE FEDERAL LAW OF PROTECTION OF PERSONAL DATA IN POWER OF PRIVATE ENTITIES AND ITS IMPACT UPON COMPANIES

Parting from the first question: What is personal data? Is that we shall start this brief bulletin, since pursuant to such law, personal data is any information related to individuals, for example, name, telephone number, domicile, photographs or fingerprints, as well as any other information which may be useful to identify them. This type of data allows, in addition, the interaction with one or more organizations, as well as enabling them to become subjects of rights.

What is the importance of Personal Data?In the era of communications, the management and exchange of data has become a usual practice, both for the public sector as well as for companies, which use them for the development of their day to day activities such as: 

• Sale of goods (i.e.: internet book sales or a car at a dealership)
• Hiring of services (clinical analyzes, life insurance or enrollment at a school) 
• Job offers (when presenting labor resume or filling out a work application form.)