Money Laundering Prevention
Commitment of Multibank to prevent the money laundering and terrorism financing crimes
Taking into account that the Money Laundering and Terrorism Financing generate great social and economic problems to our country and to the whole world, the Multibank Group, reaffirms the ethical commitment of its Shareholders, Board of Directors, the Chief Executives and of all the personnel to keep the necessary diligence and care to prevent that the operations of Multibank and its subsidiaries, be made with funds or on funds originated from illicit activities provided in Law 41 that amends the Panamanian Penal Code of October of 2000: the drug traffic, qualified swindle, illegal arms traffic, traffic of persons, abduction, extortion, embezzlement, corruption of public officials, acts terrorism, robbery or international traffic of automobiles and crimes against copyright in general (the latter added according to Law No. 1 of January 1, 2004), adopt the regulations issued by the regulators and other authorities, the 48 New Recommendations of the Financial Action Task Force (FATF) and the best banking practices that may contribute with the achievement of the objective of this policy.
We make emphasis in our obligation to collaborate with the authorities, as provided in the laws in force, which include submitting information to the Banking Superintendence, to the Finance Analysis Unit and to the Attorney General’s Office, among others.
The institution has always followed the principle of keeping a high morality in the job based in the ethical, honest and integral performance of its whole personnel.
This manual is a tool to strengthen our controls and the enforcement of the “Know Your Customer”, “Due Diligence” and “Funds Nature” concepts.