The Ecuadorean authorities have issued mandatory resolutions for compliance matters to establish anti-money laundering and financing of terrorism compliance programs.
On March 20, 2017, the Executive Decree that issued the Regulation for the application of the Law for the Prevention of Money Laundering and the Financing of Crimes entered into force.
The National Assembly has enacted the Law for Money Laundering and Crime Financing Prevention. There are several changes and amendments brought by this law, specially the ones regarding new institutions and businesses that are bound to report any unusual or unjustified economic transaction to the Unit of Financial and Economic Analysis.