Venezuela will regulate banking transactions from abroad

The Superintendency of Banking Institutions (Sudeban) requested entities to periodically provide data of clients traveling abroad in order to keep their accounts active

In the framework of the economic regulations in Venezuela, the Superintendency of Banking Institutions (Sudeban in Spanish) issued on Monday, August 27, an order according to which banks should send information periodically on customers who are outside the country.

The measure seeks to protect the assets of citizens, in addition to allowing them to perform transactions remotely. To do this, clients must provide their banks with data on the date of travel, its duration and other aspects that may be requested so that their accounts remain active.

In case the citizens do not provide this information to the banking entities, the accounts could be blocked by security measures.

It is important to point out that in Venezuela a new monetary cone recently came into effect through the Bolivar Soberano, anchored to the national petro cryptocurrency.

In this sense, Sudeban has also asked banks to reflect in their digital platforms the daily value of the petro.


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