Banco Daycoval S.A. (Bank) has a properly structured and implemented MLC area, which allows it to operate strictly within the rules issued by the regulatory bodies and in line with good market practices. The objective is to inhibit and avoid the possible use of products and services offered by the Bank to carry out money laundering operations, and is designed to protect the Bank itself, its shareholders, employees and clients.
Among the measures adopted to combat and prevent the flow of possible illicit transactions, the following are noteworthy:
Communication between the MLC area and the Bank's Board and/or MLC Committee is dynamic, in order to speed up decision-making processes, especially if situations mentioned in topics 3 and 4 above are on the agenda.
As established in its MLC Policies and Manual, Banco Daycoval does not develop relationships with “Shell Banks” or with customers that have a permanent address or carry out activities in a country under economic sanctions or other relevant sanctions by recognized national or international bodies.
The Bank also does not establish business with individuals and/or legal entities that have proven to be involved in fraud and financial crimes, nor with individuals or legal entities whose identification cannot be confirmed, or that provide incomplete, false or inconsistent information.
In addition, as required by the regulations of the regulatory bodies, and in accordance with its Policies and MLC Manual, the Bank has adopted conservative procedures with respect to the acceptance, conduct and monitoring of clients considered to be Politically Exposed Persons.