Trends, News and Events that are Shaping the AML Arena in Latin America

Size: px
Start display at page:

Download "Trends, News and Events that are Shaping the AML Arena in Latin America"

Transcription

1 Trends, News and Events that are Shaping the AML Arena in Latin America Presented by: Octavio Betancourt- Managing Director 1 MoneyLaundering.com 15 th Annual International Anti-MoneyLaundering Conference

2 PROFILING 2

3 Argentina Colombia Belize Guatemala Paraguay Mexico Venezuela Uruguay Is the country the one that poses the risk? Or the nationals of that country? What about behavior? Beginning of profiling (Pattern Recognition) Beginning of clustering (gathering of demographics) 1. Cultural aspects Cultural Bias Assumptions 2. Last names 3. Known Qualities 3

4 KIDNAPPING 4

5 Wire Transfer Cashier Check Bearer Shares Your Bank Account Criminal Organization The Laundering The Release Illicit Money Express Kidnapping SAR? 5

6 FACTORING 6

7 FACTORING Purchase of Account Receivables at a discount Scarce Credit Shortage of Cash Flow No financing available Not being paid on time by customers Country # of Factoring Companies Domestic Factoring 2008 (Millions of USD) International Factoring 2008 (Millions of USD) Total Factoring Volume 2008 (Millions of USD) Total Factoring Volume 2004 (Millions of USD) % Increase Argentina ,756 8, % Brazil ,000 7,756 38,756 21, % Chile ,150 1,128 22,278 5, % Colombia 5 2, ,961 0 Mexico 20 12, ,465 5, % Source: Factors Chain International USD 72,556 Millions 7

8 1 The Factoring Company Seller Inc. Criminal Organization A. Third Party Payments B. Tax Havens Illicit Money 5 A 6 1 Buyer Inc. Licit Money Factoring Inc. 8

9 BELIZE 9

10 Lax regulation Suspicious Activity is only reported by Financial Institutions Identity Shield Photograph: ambergriscaye.com/pages/town/map.html Bearer Shares permitted 10

11 VENEZUELA 11

12 PASSPORTS 12 Source:

13 NESTING ACCOUNTS Source: Mr. Robert Morgenthau. The link between Iran and Venezuela: A crisis in the making? When a foreign financial institution gains access to the U.S. financial system by operating through a U.S. correspondent account belonging to another foreign financial institution. Export Development Bank of Iran International Development Bank (Banco Internacional de Desarrollo) Opened on Jan in Venezuela who is prohibited from establishing a relationship with a U.S. bank could instead establish a relationship with a Venezuelan or Panamanian bank that has a relationship with a U.S. bank. 13

14 FRONT MEN 14

15 Organized crime in Guatemala evolves systematically towards new mechanisms to launder money and other assets, and thus evade authorities controls. The laundering of assets from theft of identity and financial activities of some insurance has become the target of the prosecution against the laundering of money, the Public Ministry (MP). Leopold Liu, Chief of the prosecution, confirmed that they investigated the case of a person involved who wash cars on public roads, and whose name appeared as a legal representative of a "paper company", and whose personal data was used to make monetary transfers abroad. During our investigation, it appears that he was used to make transfers that were carried out by other people who were familiar with the system. However, he was assassinated a few months ago while he was speaking at a public telephone, explained Liu. The Prosecutor stated that banking records showed as if the deceased had conducted a series of financial activity. 15

16 Money Laundering: Law enforcement raided 35 money exchange bureaus and banks 1,800 homeless bought around USD 1.2 Billion within 1 year Homeless were recruited as coleros by a criminal organization Coleros are people that buy dollars in different money exchange bureaus. They just have to provide their name and their DNI (National Identity Document) 16

17 TRIANGULATION 17

18 Export Controls violations Contraband Hide beneficiaries Triangulate funds The funds can go to one place and then transfer to another 18 Photograph:

19 MEXICO & ARGENTINA 19

20 Sales of counterfeit drugs in Mexico were estimated to exceed USD 1.5 Billion Represents 10% of the formal market (USD 15.5 Billion) Well coordinated rings, often working closely with organized crime, slip fake medication into Mexico s legitimate drug supply Growing presence of illicit, online pharmacies is increasing (in 2004 over 200 online pharmacies operating along the US-Mexico border.) Chemical import restrictions in Mexico Currently methamphetamine production is still high Mexico is the primary source of methamphetamine in US drug markets. Mexican DTO s (Drug Trafficking Organizations) are circumventing chemical sales and import restrictions in Mexico Imports of Ephedrine was prohibited in 2008 Source: National Drug Intelligence Center Photograph: Source: Kroll Global Fraud Report Photograph: 4.bp.blogspot.com/_hh3EcdMAlg4/SdEnVM6AeeI GRUPO COLLINS In 2008 was included in the US Treasury Department black list. Providing to a small drug cartel raw material to produce methamphetamines ARGENTINA 20

21 At the beginning Argentina was only a transit country. DTO s (Drug Trafficcking Organizations) from all over made Argentina home and entered drugs for the local market and to transship them New addition to their portfolio were extasis and methamphetamines. Due to the Argentinean open trade policies for the buying and selling of ephedrine. Building labs in border zones Source: Revista Cambio When thinking about the drug war, most focus on Colombia and Mexico Argentina s entry into the drug trade has built up in recent years. Twenty-six tons of ephedrine were imported to Argentina in 2007, compared to only 5 tons in Source: LatIntelligence Photograph: narcoguerillatimes 21

22 REPATRIATION 22

23 Acquisition of assets Acquisition of land or buildings in Mexico Investments made through Mexican Institutions or institutions that are incorporated in Mexico. Acquisition of stocks issued by corporations in Mexico Deposit on Savings and Loans entities authorized by regulatory entities Source: Expansion 23

24 Source: Argentinean funds abroad are of USD 140 Billions Unofficial sources estimates almost USD 230 Billion Only USD 18 Billion were declared to the tax authorities Estimate that USD 109 are in the USA 24

25 WHAT ABOUT 25

26 Country Rank Score Denmark Somali United States Chile / Uruguay Costa Rica Cuba ALBA El Salvador US Dollar Colombia Mexico / Peru Bulk Cash (USD) Brazil Panama Bearer Shares US Dollar Guatemala Bearer Shares Bolivia ALBA Argentina Belize Bearer Shares Nicaragua Bearer Shares ALBA Paraguay Bearer Shares Ecuador US Dollar ALBA Venezuela ALBA Perception of degree of corruption as seen by businesspeople and country analysts. Ranges from 10 (highly clean) and 0 (highly corrupt). Total of 180 countries Index. Source: Transparency International Bulk Cash (USD) 26

27 FOREIGN 27

28 Anguilla, a small Caribbean island is the second source of foreign investment in Colombia, after the US. In 2008, foreign investment in Colombia was of USD 9 Billion. Eleven percent (11%), almost USD 1 Billion came form Anguilla. US investment was of USD 1.2 Billion. 28

RISK MANAGEMENT AND COMPLIANCE: LOOKING AT THE BIG PICTURE HOW TO IDENTIFY AND MANAGE MONEY-LAUNDERING RISK

RISK MANAGEMENT AND COMPLIANCE: LOOKING AT THE BIG PICTURE HOW TO IDENTIFY AND MANAGE MONEY-LAUNDERING RISK RISK MANAGEMENT AND COMPLIANCE: LOOKING AT THE BIG PICTURE HOW TO IDENTIFY AND MANAGE MONEY-LAUNDERING RISK This presentation exposes money laundering from every perspective and will empower you to identify

More information

INTERNATIONAL FACTORING

INTERNATIONAL FACTORING INTERNATIONAL FACTORING November 3, 2011 1 L. Gabriel Segura President and founding officer of CVCredit Inc, a Miami-based company which focuses in USA-domestic and international factoring services. Nine

More information

Latin America s s Foreign Debt

Latin America s s Foreign Debt Latin America s s Foreign Debt Causes and Effects Internal Causes of the Debt Overvalued currency associated with ISI Returns on projects in future, but payments now: Debt trap Populist economic policies:

More information

Synergies Between AML & Fraud Departments/Programs

Synergies Between AML & Fraud Departments/Programs Consulting Services for Management & Banking Synergies Between AML & Fraud Departments/Programs Presented by: Ana Maria H. de Alba April 5 th, 2012 1 AML & Fraud Policies & Programs 1. Developing a Fraud

More information

Dealer. Línea Integral Autos Car Line Program. Autos (LIA): Línea Integral. The Wholesale Plan: The Retail Plan: Inventory 0 % Inventory Sales

Dealer. Línea Integral Autos Car Line Program. Autos (LIA): Línea Integral. The Wholesale Plan: The Retail Plan: Inventory 0 % Inventory Sales Automotive Sector Introduction Grupo Bancolombia is the financial partner for the Automotive Sector in Colombia and has a comprehensive portfolio designed according to your needs and those of agents that

More information

Trade-Based Money Laundering. Used in Financial Criminal Activity

Trade-Based Money Laundering. Used in Financial Criminal Activity Money Couriers, Trade-Based Money Laundering and Funnel Accounts Used in Financial Criminal Activity Money Couriers and Trade-Based Money Laundering Traditionally, Drug Trafficking Organizations (DTO)

More information

Manufacturing. Sector

Manufacturing. Sector Manufacturing Sector Introduction Taking into account its interest in and knowledge of your business, Grupo Bancolombia*, through its subsidiaries, offers different financial solutions to industry. We

More information

Accounting Education in Latin America and the Caribbean

Accounting Education in Latin America and the Caribbean REPARIS A REGIONAL PROGRAM Accounting Education in Latin America and the Caribbean Henri Fortin, Program Manager, CFRR THE ROAD TO EUROPE: PROGRAM OF ACCOUNTING REFORM AND INSTITUTIONAL STRENGTHENING (REPARIS)

More information

ECON 4311: The Economy of Latin America. Debt Relief. Part 1: Early Initiatives

ECON 4311: The Economy of Latin America. Debt Relief. Part 1: Early Initiatives ECON 4311: The Economy of Latin America Debt Relief Part 1: Early Initiatives The Debt Crisis of 1982 severely hit the Latin American economies for many years to come. Balance of payments deficits and

More information

Notice of Finding That Banca Privada d Andorra Is a Financial Institution of Primary Money Laundering Concern

Notice of Finding That Banca Privada d Andorra Is a Financial Institution of Primary Money Laundering Concern (BILLINGCODE: 4810-02) DEPARTMENT OF THE TREASURY Notice of Finding That Banca Privada d Andorra Is a Financial Institution of Primary Money Laundering Concern AGENCY: Financial Crimes Enforcement Network

More information

FCPA and Anti-Corruption in Latin America

FCPA and Anti-Corruption in Latin America FCPA and Anti-Corruption in Latin America May 2011 FCPA Enforcement "FCPA enforcement is stronger than it's ever been and getting stronger. We are in a new era of FCPA enforcement; and we are here to stay."

More information

Open access policies: What can we learn from Latin America? Roxana Barrantes Instituto de Estudios Peruanos

Open access policies: What can we learn from Latin America? Roxana Barrantes Instituto de Estudios Peruanos Open access policies: What can we learn from Latin America? Roxana Barrantes Instituto de Estudios Peruanos 8.00 GDP growth 1999 2009 (percetual variation) 6.00 4.00 2.00 0.00-2.00-4.00-6.00 1999 2000

More information

Human Resources Development and Training in Comprehensive Evaluation

Human Resources Development and Training in Comprehensive Evaluation Human Resources Development and Training in Comprehensive Evaluation Cuarto Foro Global de los Centros para el Aprendizaje en Evaluación y Resultados (CLEAR) November 19, 2013 Conduct evaluations Train

More information

Agribusiness. Sector

Agribusiness. Sector Agribusiness Sector Introduction Specialized interest and knowledge of your business is the best guarantee of a broad array of financial solutions that Grupo Bancolombia* places at your disposal. The backing

More information

Receivables Management Solutions

Receivables Management Solutions Receivables Management Solutions Unlock trapped liquidity, reduce costs and make collections more predictable Citi Transaction Services Latin America and Mexico Citi Transaction Services Latin America

More information

Big Data s Big Impact In Financial Investigations

Big Data s Big Impact In Financial Investigations Portfolio Media. Inc. 860 Broadway, 6th Floor New York, NY 10003 www.law360.com Phone: +1 646 783 7100 Fax: +1 646 783 7161 customerservice@law360.com Big Data s Big Impact In Financial Investigations

More information

FREE TRADE AND MEXICO S MEAT SECTOR. September 27, 2012

FREE TRADE AND MEXICO S MEAT SECTOR. September 27, 2012 FREE TRADE AND MEXICO S MEAT SECTOR September 27, 2012 Contents I. Trade Agreements signed by Mexico II. Benefits of Foreign Trade III. External Challenges of Foreign Trade IV. Foreign Trade and the Mexican

More information

Obtaining Finance in Latin America and the Caribbean 1

Obtaining Finance in Latin America and the Caribbean 1 Obtaining Finance in Latin America and the Caribbean 1 World Bank Group latin America and the Caribbean Series Note No. REV. 8/14 Basic Definitions Countries surveyed in and how they are grouped for analysis:

More information

The Healthcare and Health Tourism. Sector

The Healthcare and Health Tourism. Sector The Healthcare and Health Tourism Sector Introduction For Bancolombia being an ally of healthcare institutions means to accompany, advise, and offer alternatives to make your projects become a reality.

More information

TECHNICAL NOTE PROPOSAL INTERNATIONAL ACCOUNTING STANDARD IAS 2 INVENTORIES

TECHNICAL NOTE PROPOSAL INTERNATIONAL ACCOUNTING STANDARD IAS 2 INVENTORIES TECHNICAL NOTE PROPOSAL INTERNATIONAL ACCOUNTING STANDARD IAS 2 INVENTORIES I. BACKGROUND 1. As a result of the meeting of the Central Bank Accounting and Budget Committee held between July 11 and 13,

More information

PEPs and the FCPA. Presented to 10 th Puerto Rican Symposium of Anti Money Laundering. February 28 March 1, 2013

PEPs and the FCPA. Presented to 10 th Puerto Rican Symposium of Anti Money Laundering. February 28 March 1, 2013 PEPs and the FCPA Presented to 10 th Puerto Rican Symposium of Anti Money Laundering February 28 March 1, 2013 by Jay Perlman, Director Global Investigations & Compliance, Navigant Table of Contents I.

More information

The Pharmaceutical & Healthcare Industry in Latin America

The Pharmaceutical & Healthcare Industry in Latin America Citi s Online Academy Presents: The Pharmaceutical & Healthcare Industry in Latin America Jamie Davies Head of Pharmaceuticals & Healthcare Business Monitor International Oscar Mazza Consumer & Healthcare

More information

Coordinating national investment promotion with subnational investment promotion

Coordinating national investment promotion with subnational investment promotion . Coordinating national investment promotion with subnational investment promotion Investment climate, World Bank Global Market Access from an International Economy Spain: your partner in Europe Business

More information

DolEx Acquisition Conference Call

DolEx Acquisition Conference Call agile focused accountable advocate strategic global payments is dedicated agile focused to providing leadership in the delivery of payments and associated information accountable advocate strategic dedicated

More information

The Economic Impact of a U.S. Slowdown on the Americas

The Economic Impact of a U.S. Slowdown on the Americas Issue Brief March 2008 Center for Economic and Policy Research 1611 Connecticut Ave, NW Suite 400 Washington, DC 20009 tel: 202-293-5380 fax:: 202-588-1356 www.cepr.net The Economic Impact of a U.S. Slowdown

More information

Evolution of EU exports and imports of goods with CELAC, 2004-2014 (in billion)

Evolution of EU exports and imports of goods with CELAC, 2004-2014 (in billion) 100/2015-9 June 2015 EU Community of Latin American and Caribbean States (CELAC) summit CELAC represents the fifth most important trading partner of the EU More than 200 bn total trade The 28 Member States

More information

Tourism Statistical Yearly Report 2012

Tourism Statistical Yearly Report 2012 Tourism Statistical Yearly Report 2012 The Costa Rica Tourism Board is pleased to present the Tourism Statistical Yearly Report 2012. The information has been collected and organized by officers of Subproceso

More information

HIGH-RISK COUNTRIES IN AML MONITORING

HIGH-RISK COUNTRIES IN AML MONITORING HIGH-RISK COUNTRIES IN AML MONITORING ALICIA CORTEZ TABLE OF CONTENTS I. Introduction 3 II. High-Risk Countries 3 Customers 4 Products 7 Monitoring 8 Audit Considerations 8 III. Conclusion 10 IV. References

More information

Capacity building for non communicable disease prevention and control in Latin America and Caribbean

Capacity building for non communicable disease prevention and control in Latin America and Caribbean Capacity building for non communicable disease prevention and control in Latin America and Caribbean Advances and challenges Branka Legetic, Anselm Hennis Pan American Health Organization- World Health

More information

352 UNHCR Global Report 2010

352 UNHCR Global Report 2010 352 UNHCR Global Report 2010 Argentina Bolivia (Plurinational State of) Brazil Chile Colombia Costa Rica Cuba Ecuador El Salvador Guatemala Honduras Mexico Nicaragua Panama Paraguay Peru Uruguay Venezuela

More information

ANTI-MONEY LAUNDERING COMPLIANCE GUIDE

ANTI-MONEY LAUNDERING COMPLIANCE GUIDE LATIN AMERICA AND THE CARIBBEAN ANTI-MONEY LAUNDERING COMPLIANCE GUIDE REPORTING REQUIREMENTS RECORDKEEPING EMPLOYEE TRAINING PREVENTION OF TERRORISM FINANCING COMPLIANCE WITH LOCAL REGULATIONS COMPLIANCE

More information

APEC Information Privacy Principles in the Development of Outsourcing Business: Contact Center in Peru

APEC Information Privacy Principles in the Development of Outsourcing Business: Contact Center in Peru 2008/SOM1/ECSG/SEM/018 APEC Information Privacy Principles in the Development of Outsourcing Business: Contact Center in Peru Submitted by: Peru Technical Assistance Seminar on International Implementation

More information

Support period and budget frame, expenditures to date:

Support period and budget frame, expenditures to date: 1) Project Leaf - Law Enforcement Assistance for Forests 2) Project summary: Project Leaf (Law Enforcement Assistance for Forests) is a consortium forests and climate initiative on combating illegal logging

More information

OF THE INTERGOVERNMENTAL WORKING GROUP ON THE MULTILATERAL EVALUATION MECHANISM (MEM)

OF THE INTERGOVERNMENTAL WORKING GROUP ON THE MULTILATERAL EVALUATION MECHANISM (MEM) THIRD MEETING OF THE INTERGOVERNMENTAL OEA/Ser.L./XIV.4.3 WORKING GROUP ON THE MULTILATERAL CICAD/MEM/doc.14/98 rev. 1 EVALUATION MECHANISM (MEM) 4 December 1998 October 26-28, 1998 Original: Spanish Tegucigalpa,

More information

Produced for the OFFICE OF NATIONAL DRUG CONTROL POLICY

Produced for the OFFICE OF NATIONAL DRUG CONTROL POLICY Produced for the OFFICE OF NATIONAL DRUG CONTROL POLICY Cocaine Smuggling in 2010 Cocaine Flow toward the United States The amount of cocaine departing South America decreased in 2010 for a third straight

More information

Colombia in the world

Colombia in the world Colombia in the world Proexport around the world Process of attracting Foreign Direct Investment Proexport offers detailed and professional assistance for investors that find interesting business opportunities

More information

COLOMBIA ECONOMIC PERFORMANCE BRIEF October 2012

COLOMBIA ECONOMIC PERFORMANCE BRIEF October 2012 COLOMBIA ECONOMIC PERFORMANCE BRIEF October 2012 1. ECONOMY IN BRIEF Colombian GDP in 2011 reached 5.9%, showing a continuous positive growth rate over the past years. In the third quarter of 2012 the

More information

Pharmaceutical Markets in Latin American Countries. Chris Swann Espicom Business Intelligence

Pharmaceutical Markets in Latin American Countries. Chris Swann Espicom Business Intelligence Pharmaceutical Markets in Latin American Countries Chris Swann Espicom Business Intelligence Contents Demographics Economic factors Pharmaceutical market characteristics Summary - Overview of markets VENEZUELA

More information

Investing in Latin America through Spain: Planning Opportunities

Investing in Latin America through Spain: Planning Opportunities Investing in Latin America through Spain: Planning Opportunities 11th Annual Latin American Tax Conference Miami, Florida 10-11 March 2010 Luis Carbajo, Isabel Otaola, Joaquin Kersman, Clarissa Machado,

More information

BRAIN DRAIN IN LATIN AMERICA*

BRAIN DRAIN IN LATIN AMERICA* UN/POP/EGM-MIG/2005/10 5 February 2006 EXPERT GROUP MEETING ON INTERNATIONAL MIGRATION AND DEVELOPMENT IN LATIN AMERICA AND THE CARIBBEAN Population Division Department of Economic and Social Affairs United

More information

AML & Mortgage Fraud Compliance Program v. 08.2013 ANTI-MONEY LAUNDERING & MORTGAGE FRAUD COMPLIANCE PROGRAM

AML & Mortgage Fraud Compliance Program v. 08.2013 ANTI-MONEY LAUNDERING & MORTGAGE FRAUD COMPLIANCE PROGRAM ANTI-MONEY LAUNDERING & MORTGAGE FRAUD COMPLIANCE PROGRAM Version: 2.0 dated 08.2013 TABLE OF CONTENTS AML & Mortgage Fraud Compliance Program 1.0 PURPOSE AND SCOPE... 3 2.0 APPLICABLE REGULATIONS AND

More information

BBVA Compass. Giampaolo Consigliere, Head International Commercial Banking. Washington, DC - March, 19 th

BBVA Compass. Giampaolo Consigliere, Head International Commercial Banking. Washington, DC - March, 19 th BBVA Compass Giampaolo Consigliere, Head International Commercial Banking Washington, DC - March, 19 th 1 Banco Bilbao Vizcaya Starting from Strong Foundation Argentaria Banco Hipotecario, 1872 Banco de

More information

news PROCEED WITH CAUTION First published on the Latin Lawyer website, 8th April 2011 www.latinlawyer.com

news PROCEED WITH CAUTION First published on the Latin Lawyer website, 8th April 2011 www.latinlawyer.com PROCEED WITH CAUTION FCPA update Opinion in Latin Lawyer March 2011 Friday, 8th April 2011 Non-US nationals must take care when conducting international business in Latin America and avoid violating the

More information

Latin America. Working environment. Argentina. Belize. Bolivia. Brazil. Chile. Colombia. Costa Rica. Cuba. Ecuador. El Salvador. Guatemala.

Latin America. Working environment. Argentina. Belize. Bolivia. Brazil. Chile. Colombia. Costa Rica. Cuba. Ecuador. El Salvador. Guatemala. Latin America Argentina Belize Bolivia Brazil Chile Colombia Costa Rica Cuba Ecuador El Salvador Guatemala Honduras Mexico Nicaragua Panama Paraguay Peru Uruguay Venezuela (Bolivarian Republic of) Working

More information

LTE LATIN AMERICA APRIL 2016

LTE LATIN AMERICA APRIL 2016 LTE LATIN AMERICA APRIL 2016 5G AMERICAS The Voice of 5G and LTE for the Americas 5G Americas is an industry trade organization composed of leading telecommunications service providers and manufacturers.

More information

Mapping Enterprises in Latin America and the Caribbean 1

Mapping Enterprises in Latin America and the Caribbean 1 Mapping Enterprises in Latin America and the Caribbean 1 WORLD BANK GROUP LATIN AMERICA AND THE CARIBBEAN SERIES NOTE NO. 1 REV. 8/14 Basic Definitions surveyed in 1 and how they are grouped for analysis:

More information

Working capital and trade solutions. Delivered globally.

Working capital and trade solutions. Delivered globally. Latin America Capabilities Working capital and trade solutions. Delivered globally. Taking your opportunity further. That s return on relationship. Serving your regional and global needs Gain access to

More information

Appendix 1: Full Country Rankings

Appendix 1: Full Country Rankings Appendix 1: Full Country Rankings Below please find the complete rankings of all 75 markets considered in the analysis. Rankings are broken into overall rankings and subsector rankings. Overall Renewable

More information

Energy Briefing: Global Crude Oil Demand & Supply

Energy Briefing: Global Crude Oil Demand & Supply Energy Briefing: Global Crude Oil Demand & Supply November 6, 215 Dr. Edward Yardeni 516-972-7683 eyardeni@ Debbie Johnson 48-664-1333 djohnson@ Please visit our sites at www. blog. thinking outside the

More information

Presented By Greg Baldwin

Presented By Greg Baldwin ANTI-MONEY LAUNDERING COMPLIANCE OFFICER TRAINING Presented By Greg Baldwin THE ANTI-MONEY LAUNDERING COMPLIANCE OFFICER We re going to cover: Basis for the requirement to have a Compliance Officer The

More information

COMPANY PRODUCTS AND SERVICES

COMPANY PRODUCTS AND SERVICES COMPANY PRODUCTS AND SERVICES THE WORLD IS WAITING. 1 1 Santander Group. With more than 150 years in the business, Santander has become one of the world's largest financial groups. This has been based

More information

COSTA RICA: LINKING TRADE AND INVESTMENT FOR INCLUSIVE GROWTH AND DEVELOPMENT

COSTA RICA: LINKING TRADE AND INVESTMENT FOR INCLUSIVE GROWTH AND DEVELOPMENT COSTA RICA: LINKING TRADE AND INVESTMENT FOR INCLUSIVE GROWTH AND DEVELOPMENT GETTING TO KNOW COSTA RICA o A small country of 51,100 km2 o With 4.7 million inhabitants o Strategically located in the middle

More information

Economic Watch. Trends in Lending and Outward Foreign Direct Investment from China into Latin America. China

Economic Watch. Trends in Lending and Outward Foreign Direct Investment from China into Latin America. China China Hong Kong, August 16, 2013 Economic Analysis Asia Alicia Garcia Herrero Chief Economist of Emerging Markets alicia.garcia-herrero@bbva.com.hk Olga Porro Olga.porro@bbva.com.hk Trends in Lending and

More information

ECLAC LOGISTICS PROFILE: Mexico

ECLAC LOGISTICS PROFILE: Mexico ECLAC LOGISTICS PROFILE: Mexico Last Update: 21/12/2015 INTRODUCTION ECLAC's Logistics Profiles have been developed by the ECLAC Infrastructure Services Unit (ISU) with the aim to provide in a single concise

More information

E-Readiness in Latin America

E-Readiness in Latin America A report into regional conditions for e-commerce E-Readiness in Latin America Conditions in the region for the development of e-commerce improved by 47.6% over the last four years. The gap with developed

More information

CASA ALIANZA Covenant House Latin America

CASA ALIANZA Covenant House Latin America TRAFFICKING IN CHILDREN IN LATIN AMERICA AND THE CARIBBEAN Prepared by Covenant House 1 This report describes the serious situation of trafficking of children, affecting boys, girls and youth in the Latin

More information

REMARKS BY R. GIL KERLIKOWSKE DIRECTOR OFFICE OF NATIONAL DRUG CONTROL POLICY EXECUTIVE OFFICE OF THE PRESIDENT. before the

REMARKS BY R. GIL KERLIKOWSKE DIRECTOR OFFICE OF NATIONAL DRUG CONTROL POLICY EXECUTIVE OFFICE OF THE PRESIDENT. before the REMARKS BY R. GIL KERLIKOWSKE DIRECTOR OFFICE OF NATIONAL DRUG CONTROL POLICY EXECUTIVE OFFICE OF THE PRESIDENT before the CENTER FOR STRATEGIC AND INTERNATIONAL STUDIES DRUG POLICY IN THE AMERICAS JULY

More information

Q.nomy Case Study: Telefonica Page 1. Case Study: Telefonica, April 2008. Overview

Q.nomy Case Study: Telefonica Page 1. Case Study: Telefonica, April 2008. Overview Case Study: Telefonica, April 2008 Overview Telefonica ended 2007 consolidating its position as one of the world s leading telecommunications operators, largely thanks to the success of its commercial

More information

REGULATORY ALERT NATIONAL CREDIT UNION ADMINISTRATION 1775 DUKE STREET, ALEXANDRIA, VA 22314. DATE: October 2001 NO.: 01-RA-11

REGULATORY ALERT NATIONAL CREDIT UNION ADMINISTRATION 1775 DUKE STREET, ALEXANDRIA, VA 22314. DATE: October 2001 NO.: 01-RA-11 REGULATORY ALERT NATIONAL CREDIT UNION ADMINISTRATION 1775 DUKE STREET, ALEXANDRIA, VA 22314 DATE: October 2001 NO.: 01-RA-11 TO: All Federally-Insured Credit Unions SUBJECT: Suspicious Activity Report

More information

PART 3 The Basics 10

PART 3 The Basics 10 PART 3 The Basics 10 PART 3 The Basics A. What is Money Laundering? 3.1 Put simply, money laundering covers all kinds of methods used to change the identity of illegally obtained money (i.e. crime proceeds)

More information

LATIN AMERICA FOREX MARKET OVERVIEW Q1 2012

LATIN AMERICA FOREX MARKET OVERVIEW Q1 2012 LATIN AMERICA FOREX MARKET OVERVIEW Q1 2012 This publication is the sole property of Forex Magnates. It has been provided to you based on your statement and agreement that it will be viewed by your eyes

More information

Economic Crime: A Threat to Business Globally

Economic Crime: A Threat to Business Globally www.pwc.com s 2014 Global Economic Crime Survey Latin America Supplement Economic Crime: A Threat to Business Globally Introduction We are pleased to present the Latin America results of the PricewaterhouseCoopers

More information

Anti-Money Laundering (AML) & Combating Financing Terrorism (CFT)

Anti-Money Laundering (AML) & Combating Financing Terrorism (CFT) Anti-Money Laundering (AML) & Combating Financing Terrorism (CFT) Auditing the complex, unclear, and changing regulatory requirements and expectations Basics of Money Laundering Money laundering is the

More information

INVESTMENT FIRMS SAMPLE CATALOGUES OF RISK TRANSACTIONS RELATED TO MONEY LAUNDERING AND TERRORIST FINANCING

INVESTMENT FIRMS SAMPLE CATALOGUES OF RISK TRANSACTIONS RELATED TO MONEY LAUNDERING AND TERRORIST FINANCING COMMISSION FOR THE PREVENTION OF MONEY LAUNDERING AND MONETARY OFFENCES SAMPLE CATALOGUES OF RISK TRANSACTIONS RELATED TO MONEY LAUNDERING AND TERRORIST FINANCING INVESTMENT FIRMS Introduction and regulatory

More information

FACT SHEET COMPANY OVERVIEW PRODUCTS I. LoJack System For Cars and Light Trucks: The Flagship LoJack Stolen Vehicle Recovery System LoJack

FACT SHEET COMPANY OVERVIEW PRODUCTS I. LoJack System For Cars and Light Trucks: The Flagship LoJack Stolen Vehicle Recovery System LoJack FACT SHEET COMPANY OVERVIEW LoJack Corporation (NASDAQ: LOJN) is the premier worldwide provider of tracking and recovery systems. More than 25 years ago, LoJack Corporation created the stolen vehicle recovery

More information

Deutsche Bank Research. The Pacific Alliance. A bright spot in Latin America May 2014. Deutsche Bank Research

Deutsche Bank Research. The Pacific Alliance. A bright spot in Latin America May 2014. Deutsche Bank Research The Pacific Alliance A bright spot in Latin America May 2014 Agenda 1 2 3 What is it about? Combined strengths Challenges ahead 1 What is it about? A next generation free trade agreement Mexico Colombia

More information

Brazilian firms are more integrated into their country's financial system than other firms in the

Brazilian firms are more integrated into their country's financial system than other firms in the Enterprise Surveys Country Note Series Brazil World Bank Group Country note no. 12 11 Running a Business in Brazil Brazilian firms are more integrated into their country's financial system than other firms

More information

Fact Sheet for Financial Crimes Enforcement Network Geographic Targeting Orders for Manhattan, N.Y., and Miami-Dade County, Fla.

Fact Sheet for Financial Crimes Enforcement Network Geographic Targeting Orders for Manhattan, N.Y., and Miami-Dade County, Fla. Fact Sheet for Financial Crimes Enforcement Network Geographic Targeting Orders for Manhattan, N.Y., and Miami-Dade County, Fla. On January 13, 2016, the Financial Crimes Enforcement Network (FinCEN),

More information

Senate Committee: Education and Employment. QUESTION ON NOTICE Budget Estimates 2015-2016

Senate Committee: Education and Employment. QUESTION ON NOTICE Budget Estimates 2015-2016 Senate Committee: Education and Employment QUESTION ON NOTICE Budget Estimates 2015-2016 Outcome: Higher Education Research and International Department of Education and Training Question No. SQ15-000549

More information

Challenge 1: Learning About the Physical Geography of Latin America

Challenge 1: Learning About the Physical Geography of Latin America Challenge 1: Learning About the Physical Geography of Latin America 120 W Mexican Plateau Tropic of Cancer 110 W 10 0W Rio Grande 90 W 80 W 70 W 60 W 50 W 40 W 30 W Gulf of Mexico Tropic of Cancer Sierra

More information

AN ENABLING ENVIRONMENT FOR MICROBUSINESS AND THE RULE OF LAW Mike Dennis Department of State

AN ENABLING ENVIRONMENT FOR MICROBUSINESS AND THE RULE OF LAW Mike Dennis Department of State AN ENABLING ENVIRONMENT FOR MICROBUSINESS AND THE RULE OF LAW Mike Dennis Department of State UNCITRAL Colloquium on Microfinance Vienna, January 16-18, 2013 1 An Enabling Environment for Microbusiness

More information

STATEMENT OF JENNIFER SHASKY SENIOR COUNSEL TO THE DEPUTY ATTORNEY GENERAL BEFORE THE

STATEMENT OF JENNIFER SHASKY SENIOR COUNSEL TO THE DEPUTY ATTORNEY GENERAL BEFORE THE STATEMENT OF JENNIFER SHASKY SENIOR COUNSEL TO THE DEPUTY ATTORNEY GENERAL BEFORE THE COMMITTEE ON HOMELAND SECURITY AND GOVERNMENTAL AFFAIRS UNITED STATES SENATE ENTITLED BUSINESS FORMATION AND FINANCIAL

More information

Survey of LAC agricultural research institutes on technical information management.

Survey of LAC agricultural research institutes on technical information management. Survey of LAC agricultural research institutes on technical information management. FORAGRO Technical Secretariat Area of Technology and Innovation Directorate of Technical Leadership and Knowledge Management,

More information

04 de diciembre de 2009 No. 121

04 de diciembre de 2009 No. 121 WEEKLY EMANA NEWS QUE PASÓ MAY 2010 04 de diciembre de 2009 No. 121 Bolivia S&P Raises Bolivia s Rating to B with Positive Outlook 7/05/2010 The rating agency Standard & Poor s (S&P) raised Bolivia s foreign-currency

More information

SIGNATURES AND CURRENT STATUS OF RATIFICATIONS AMERICAN CONVENTION ON HUMAN RIGHTS "PACT OF SAN JOSE, COSTA RICA"

SIGNATURES AND CURRENT STATUS OF RATIFICATIONS AMERICAN CONVENTION ON HUMAN RIGHTS PACT OF SAN JOSE, COSTA RICA SIGNATURES AND CURRENT STATUS OF RATIFICATIONS AMERICAN CONVENTION ON HUMAN RIGHTS "PACT OF SAN JOSE, COSTA RICA" (Signed at San José, Costa Rica, 22 November 1969, at the Inter-American Specialized Conference

More information

Regional Profile 2015. Latin America

Regional Profile 2015. Latin America Regional Profile 2015 Latin America 2 2014 The International Bank for Reconstruction and Development / The World Bank 1818 H Street NW, Washington, DC 20433 Telephone: 202-473-1000; Internet: www.worldbank.org

More information

UNDERSTANDING MONEY LAUNDERING

UNDERSTANDING MONEY LAUNDERING UNDERSTANDING MONEY LAUNDERING Preface In light of the international concerns growing on money laundering and the financing of terrorist activities, many countries have taken rigorous measures to curb

More information

Foreign Corrupt Practices Act (FCPA)/Bribery Act Integrity Due-Diligence & Investigations

Foreign Corrupt Practices Act (FCPA)/Bribery Act Integrity Due-Diligence & Investigations Foreign Corrupt Practices Act (FCPA)/Bribery Act Integrity Due-Diligence & Investigations Clarity in a complex world www.mintzgroup.com How We Work: Because the reputations of companies and individuals

More information

Preventing through education

Preventing through education Ministerial Declaration Preventing through education The Ministerial Declaration Preventing through Education, was approved in Mexico City in the framework of the 1st Meeting of Ministers of Health and

More information

THE EFFECT OF CRIME VICTIMIZATION ON ATTITUDES TOWARDS CRIMINAL JUSTICE IN LATIN AMERICA

THE EFFECT OF CRIME VICTIMIZATION ON ATTITUDES TOWARDS CRIMINAL JUSTICE IN LATIN AMERICA THE EFFECT OF CRIME VICTIMIZATION ON ATTITUDES TOWARDS CRIMINAL JUSTICE IN LATIN AMERICA Gabriel Demombynes Draft of May 2009 ABSTRACT This paper examines the effects victimization on criminal justice

More information

THE LOW INTEREST RATE ENVIRONMENT AND ITS IMPACT ON INSURANCE MARKETS. Mamiko Yokoi-Arai

THE LOW INTEREST RATE ENVIRONMENT AND ITS IMPACT ON INSURANCE MARKETS. Mamiko Yokoi-Arai THE LOW INTEREST RATE ENVIRONMENT AND ITS IMPACT ON INSURANCE MARKETS Mamiko Yokoi-Arai Current macro economic environment is of Low interest rate Low inflation and nominal wage growth Slow growth Demographic

More information

MOBILE ADS. HUNT Mobile Ads Traffic Q2-2011

MOBILE ADS. HUNT Mobile Ads Traffic Q2-2011 HUNT Mobile Ads Traffic Q2-2011 Report #2-2011 Intro Continuing with the quarterly reports from HUNT Mobile Ads, the leading mobile advertising network in Latin America and the Spanish speaking markets,

More information

Overview menu: ArminLabs - DHL Medical Express Online-Pickup: Access to the Online System

Overview menu: ArminLabs - DHL Medical Express Online-Pickup: Access to the Online System Access to the Online System Overview menu: Create shipment: Preselected - Here you can order your shipment including the Pickup 0049 821 78093150 ArminLabs DHL Medical Express Online-Pickup-Manual DHL

More information

BRAZIL BENEFICIAL OWNERSHIP TRANSPARENCY

BRAZIL BENEFICIAL OWNERSHIP TRANSPARENCY BRAZIL BENEFICIAL OWNERSHIP TRANSPARENCY Brazil is only fully compliant with one of the G20 Principles (Principle 10). The country still lacks an adequate definition of beneficial ownership and mechanisms

More information

BTMU Focus Latin America Mexico: Export Profile

BTMU Focus Latin America Mexico: Export Profile BTMU Focus Latin America Mexico: Export Profile MUFG UNION BANK Economic Research (New York) Hongrui Zhang Latin America Economist hozhang@us.mufg.jp +1(212)782-5708 Updated April 8, 2016 Mexican Exports

More information

Education Goals in the Latin American and Caribbean Region. Compiled by Lorecia Roland LAC Education and Human Resources Technical Services Project

Education Goals in the Latin American and Caribbean Region. Compiled by Lorecia Roland LAC Education and Human Resources Technical Services Project Education Goals in the Latin American and Caribbean Region Compiled by Lorecia Roland LAC Education and Human Resources Technical Services Project 1994 Acknowledgements In preparation for the December

More information

Latin America - Digital Media and Pay TV Market

Latin America - Digital Media and Pay TV Market Brochure More information from http://www.researchandmarkets.com/reports/1937256/ Latin America - Digital Media and Pay TV Market Description: This market report provides a comprehensive overview of convergence,

More information

Agrimonitor: PSE Agricultural Policy Monitoring System in LAC INE/RND

Agrimonitor: PSE Agricultural Policy Monitoring System in LAC INE/RND Agrimonitor: PSE Agricultural Policy Monitoring System in LAC INE/RND WHAT POLICY MONITORING IS,WHY IS IMPORTANT AND WHAT HAS ALREADY BEEN DONE IN OUR COUNTRIES? Monitor and evaluate developments in agricultural

More information

INTEGRATION AND TRADE CAPACITY BUILDING PROGRAM. Joaquim Tres and Alvaro Garcia Integration and Trade Sector Vice President of Sectors and Knowledge

INTEGRATION AND TRADE CAPACITY BUILDING PROGRAM. Joaquim Tres and Alvaro Garcia Integration and Trade Sector Vice President of Sectors and Knowledge INTEGRATION AND TRADE CAPACITY BUILDING PROGRAM Joaquim Tres and Alvaro Garcia Integration and Trade Sector Vice President of Sectors and Knowledge INDEX 1# 2# 3# 4# 5# 6# 7# 8# 9# What is the Origin?

More information

Produced for the OFFICE OF NATIONAL DRUG CONTROL POLICY. Cocaine Smuggling in 2011

Produced for the OFFICE OF NATIONAL DRUG CONTROL POLICY. Cocaine Smuggling in 2011 Cocaine Smuggling in 211 Produced for the OFFICE OF NATIONAL DRUG CONTROL POLICY Cocaine Smuggling in 211 Cocaine Smuggling in 211 Cocaine Flow to Global Markets The amount of cocaine departing South

More information

CAPTURE THE OPPORTUNITY IN COLOMBIA

CAPTURE THE OPPORTUNITY IN COLOMBIA CAPTURE THE OPPORTUNITY IN COLOMBIA BUSINESS SWEDEN June 2015 Bogota COLOMBIA AMONG THE FASTEST GROWING ECONOMIES IN THE REGION EXECUTIVE SUMMARY Colombia has a privileged geographical location between

More information

American Funds Insurance Series. New World Fund. Summary prospectus Class 2 shares May 1, 2015

American Funds Insurance Series. New World Fund. Summary prospectus Class 2 shares May 1, 2015 American Funds Insurance Series New World Fund Summary prospectus Class 2 shares May 1, 2015 Before you invest, you may want to review the fund s prospectus and statement of additional information, which

More information

Table 1. Growth of Latin American and Caribbean Medical Schools

Table 1. Growth of Latin American and Caribbean Medical Schools Table 1. Growth of Latin American and Caribbean Medical Schools Country 1969 1975 1988 1992 2004 Argentina 9 9 9 13 24 Antigua and Barbuda 1 Bolivia 3 3 3 7 10 Belize 2 Brazil 30 75 78 80 112 Chile 4 10

More information

Case 1:12-cr-00763-ILG Document 3 Filed 12/11/12 Page 1 of 2 PageID #: 5

Case 1:12-cr-00763-ILG Document 3 Filed 12/11/12 Page 1 of 2 PageID #: 5 Case 1:12-cr-00763-ILG Document 3 Filed 12/11/12 Page 1 of 2 PageID #: 5 CBD:DSS/AAS U.S. Department of Justice United States Attorney's Office Eastern District of New York 271 Cadman Plaza East F.#2009R02380

More information

TYPOLOGY 13 MONEY LAUNDERING THROUGH CASINOS APPROVED BY THE DECISION OF THE GOVERNOR OF THE CENTRAL BANK OF ARMENIA NO 1/41A FROM JANUARY 24, 2014

TYPOLOGY 13 MONEY LAUNDERING THROUGH CASINOS APPROVED BY THE DECISION OF THE GOVERNOR OF THE CENTRAL BANK OF ARMENIA NO 1/41A FROM JANUARY 24, 2014 APPROVED BY THE DECISION OF THE GOVERNOR OF THE CENTRAL BANK OF ARMENIA NO 1/41A FROM JANUARY 24, 2014 ANNEX TYPOLOGY 13 MONEY LAUNDERING THROUGH CASINOS YEREVAN 2014 1 Contents Chapter 1: Scope of Application...

More information

a GAO-02-670 GAO MONEY LAUNDERING Extent of Money Laundering through Credit Cards Is Unknown

a GAO-02-670 GAO MONEY LAUNDERING Extent of Money Laundering through Credit Cards Is Unknown GAO United States General Accounting Office Report to the Chairman, Permanent Subcommittee on Investigations, Committee on Governmental Affairs, U.S. Senate July 2002 MONEY LAUNDERING Extent of Money Laundering

More information

Avoiding Crime in Latin America and the Caribbean 1

Avoiding Crime in Latin America and the Caribbean 1 Avoiding Crime in Latin America and the Caribbean 1 WORLD BANK GROUP LATIN AMERICA AND THE CARIBBEAN SERIES NOTE NO. 7 REV. 8/2014 Basic Definitions Countries surveyed in 2010 and how they are grouped

More information

To Catch a Thief White Paper

To Catch a Thief White Paper To Catch a Thief White Paper To Catch a Thief Copyright 2013 Visual Analytics Inc. TO CATCH A THIEF ABSTRACT To catch a thief, spy, money launderer, insider trader, tax evader, narcotics trafficker or

More information

Current Anti-Money Laundering Enforcement Trends

Current Anti-Money Laundering Enforcement Trends Current Anti-Money Laundering Enforcement Trends Michael Volkov, Shareholder 240.505.1992 michael.volkov@leclairryan.com Carlos Ortiz, Shareholder 973.491.3365 carlos.ortiz@leclairryan.com Today s presenters

More information

SUMMARY: This Interpretive Release sets forth an interpretation of the regulation

SUMMARY: This Interpretive Release sets forth an interpretation of the regulation [Billing Code 4810-02-P] United States Department of Treasury Financial Crimes Enforcement Network 31 CFR Part 103 Interpretive Release 2004-1 Anti-Money Laundering Program Requirements For Money Services

More information