The Superintendent of Banks, Milton Ayón Wong, inaugurated the VII Awareness Session titled "Strengthening Financial Integrity towards ML/FT/FPWMD Risk," organized by the Directorate of Prevention of Money Laundering and Illicit Operations of the SBP.
The objective of this session was to address key topics aimed at raising awareness of a compliance culture, thereby strengthening sound practices. The agenda included relevant topics on prevention, the responsibilities of the three lines of defense, and the risk management model, which is essential for ensuring the integrity of financial institutions.
The growing importance of fiscal information in detecting suspicious activities was also highlighted, along with a closer look into monitoring transactions related to virtual assets.
Experts shared their perspectives on the regulator's expectations regarding new business models and discussed the crucial role of internal auditing in managing controls related to money laundering, terrorist financing, and the proliferation of weapons of mass destruction.
In his speech, Superintendent Ayón Wong emphasized, "Your presence here is a clear reflection of our commitment to the fight against money laundering and terrorist financing in our country, which is essential for the development of our financial industry."
He explained that "in an increasingly globalized and complex world, financial crimes are evolving rapidly. New money laundering schemes, the rise of cryptocurrencies, and the emergence of sophisticated asset concealment mechanisms are constantly challenging our control systems."
Considering this, it is crucial that the financial system has highly trained professionals committed to the fight against the prevention of these types of crimes, the Superintendent emphasized.
The event was attended by representatives from institutions supervised by the SBP, both public and private, including the banking sector, trust companies, savings and credit societies, financial institutions, remittance companies, currency exchange houses, development banks, payment service, leasing, and factoring providers.
