BTN News: In a continued effort to strengthen the integrity of the financial system and promote transparency, Banreservas, the Dominican Republic’s largest bank, recently held its Second Congress on Money Laundering and Terrorism Financing Prevention. The event drew key figures from both the financial and legal sectors, with a focus on addressing the growing global threats of money laundering and terrorism financing.
Experts, government officials, and regulators gathered to share insights and strategies aimed at creating a more secure financial environment in the Dominican Republic. The congress also aligned with the International Day for the Prevention of Money Laundering, celebrated in October.
Commitment to Financial Integrity
Heiromy Castro, Vice President of Compliance at Banreservas, emphasized the bank’s unwavering commitment to combatting financial crime. In his opening remarks, he highlighted the importance of collaboration between the financial industry, regulatory bodies, and law enforcement.
“We are committed to developing robust strategies that promote secure and trustworthy business practices,” Castro said. “Our main goal is to foster a more transparent environment that not only benefits the Dominican Republic but also contributes to global financial stability.”
The congress underscored Banreservas’ strategy of fostering a culture of compliance while addressing the evolving nature of financial crimes, particularly money laundering and terrorism financing.
A United Front Against Financial Crime
The event brought together key stakeholders, including the Superintendent of Banks, Alejandro Fernández, and the Director of the Specialized Prosecutor’s Office for the Prosecution of Administrative Corruption, Wilson Camacho. They discussed how collaboration and technology are critical tools in detecting and preventing illegal financial activities.
The panel of experts stressed the need for ongoing education and awareness to combat new threats. “We must remain vigilant and proactive. The landscape of financial crime is constantly evolving, and our strategies must evolve with it,” said Fernández.
Enhancing Business Transparency and Security
One of the primary goals of the event was to strengthen the Dominican Republic’s financial compliance framework. Banreservas seeks to ensure that both businesses and individuals can operate within a system that upholds security and trust.
Francisco José Elías, Senior Executive Vice President of Banreservas’ subsidiary companies, noted that boosting business transparency is vital for sustainable economic growth. “Building trust within our financial system will encourage both local and international investors to engage with confidence,” Elías stated.
Key Participants and Their Roles
The congress also featured participation from notable figures in the country’s financial regulatory landscape, including:
- Ernesto Bournigal, Superintendent of the Securities Market
- Francisco Campos, Superintendent of Insurance
- Jaime Marte Martínez, President of the National Drug Council
- Enrique Aguilera Trujillo, Director of the Anti-Terrorism Unit, Dominican Armed Forces
These authorities discussed how strengthening regulatory frameworks and encouraging collaboration across sectors are essential to combat the threats of money laundering and terrorism financing effectively.
Strengthening Compliance Culture
Guillermo Estrella, President of Banreservas’ Compliance Committee, closed the event with a message of unity and responsibility. “Preventing money laundering and the financing of terrorism is a shared responsibility. The success of this congress is a testament to our collective commitment,” Estrella affirmed.
He further emphasized the importance of maintaining an adaptive compliance culture in the face of emerging global threats. Banreservas continues to lead by example, promoting the integrity of the financial system through education, compliance, and transparent business practices.
Looking Ahead: A Safer Financial Future
The congress served as a critical step forward in strengthening the Dominican Republic’s stance against financial crime. As the country’s largest bank, Banreservas plays a pivotal role in ensuring that its anti-money laundering strategies and terrorism financing prevention efforts continue to evolve.
In the wake of the event, Banreservas looks ahead to the future, committed to fostering a safer and more transparent financial landscape for businesses, consumers, and the broader community. Their proactive efforts ensure the Dominican Republic remains a trustworthy and secure destination for international business and investment.
