Uruguay’s second most important private bank was acquired by an international bank. Consequently, the local bank was obliged to adapt to the rules and regulations of its new head office.
In order to comply with head office rules relating to the prevention of money laundering and the financing of terrorism, information files on clients considered high-risk had to be analyzed to meet the demands of head office’s request for the information contained in these files.
Information files relating to all potentially high-risk clients were analyzed and checked to ensure that all required information was complete in order to comply with head office rules and regulations. All missing information was detected and subsequently obtained by the bank. Therefore compliance was successfully achieved and head office praised the bank for its performance.
We have a permanent team of professionals at the bank constantly updating information files and ensuring that head office rules and regulations are being complied with.