Money laundering
Money Laundering:
All actions taken to give the appearance of legality to resources of illicit origin
Terrorism Financing:
Any form of economic action, aid or mediation that provides financial support to the activities of terrorist elements or groups.
What is an unusual operation?
It is a rare operation that does not match the normal economic activity of the other party. It may be because the amount of money is very large or because the characteristics of the operation are unusual. These operations do not follow the normal parameters established for that person or entity.
What is a warning sign?
These are elements that the Entity considers important, such as facts, situations, events, amounts of money or financial ratios. With this information, it is possible to detect in time if something is not normal according to what the Entity has defined. Some examples are the following:
Large amounts of money:
Money movements that are significantly higher than normal.
Transaction frequency:
A sudden increase in the number of transactions.
Unknown origin or destination:
Funds that come from or are sent to unknown or unusual accounts.
How to act when facing warning signs?
Report: Inform the competent area or the reporting channels designated for this purpose.
Take preventive measures: Implement additional controls to prevent similar situations from recurring.
Do not get involved, do not lend your name