“It is considered necessary to strengthen the internal control of said financial entities in terms of fraud prevention, incorporating operation control mechanisms, audit programs, resolution procedures for monetary operations not recognized by the users of these entities, including greater elements of transparency in said processes and documented evidence,” highlighted the CNBV.
The CNBV defined fraud as those behaviors within Sofipos or outside of them that seek to impersonate users, that seek to steal users’ personal data, or the use of employees’ privileged information against clients.
Older adults, people with disabilities, people belonging to any ethnic group, town or indigenous community were also considered vulnerable populations.
Sofipos are now required to have an audit committee and present a fraud prevention management plan; The personnel in charge of these tasks must be defined before the Board of Directors of each Sofipo.
“Such personnel must have the technical quality, the necessary experience and required good repute, which will be verified through an evaluation, which must be carried out at least every three years and be documented and available at all times to the Commission for at least five years,” he highlighted.
The Management Plan for the prevention of fraud must be presented each year and at the end of January sent to the Commission for approval.
The Sofipos have more than 32 million clients, according to CNBV figures as of September. They manage 175,835 million pesos in deposit accounts and give 71,985 million pesos in credits.
