Stricter Anti-Money Laundering Regime for Caribbean Banking Industry

Latin American Advisor, Financial Services asks: Are Stricter Bank Regulations a Major Hinderance in the Caribbean? Q: Royal Bank of Canada in the Caribbean in recent months has closed wealth-management offices across the Caribbean. The closures come amid growing pressure on the Caribbean banking industry by regulators who are fighting money laundering in the region.…

Money Laundering in Latin America Continues to Grow

Latin America: Money Laundering Grows Growing crime and weak enforcement boost money laundering in Latin America. By Joachim Bamrud First published Latinvex. November 24, 2014 Reprinted with permission. Money laundering is growing in Latin America despite growing enforcement by both US and Latin American authorities, experts say. “Money laundering has grown and will continue to…

Cybersecurity in Latin America

How well are Latin American banks protected against cyber attacks? Inter-American Dialogue’s Latin America Advisor asked Marcela Cristina Blanco, associate attorney in Diaz Reus’ Bogota, Colombia office, “How Well Do Latin American Banks Protect Against Cyber Attacks?” Latin America Advisor: More than half of Latin American financial institutions have experienced some type of electronic breach…

14th Annual FIBA Anti-Money Laundering Compliance Conference

The 14th Annual FIBA AML Conference on February 20-21, 2014 at Miami’s Intercontinental Hotel will convene industry leaders from both private and public sectors to debate key insights on regulatory expectations and best practices in order to ensure that transnational banks and financial institutions have at their disposal the information necessary to operate safely in the current BSA/AML/OFAC…

Financial Fraud Victims May Benefit from Swiss Bank’s Disclosures

Lawyer Michael Diaz, Jr., says financial fraud victims may benefit from Swiss bank’s disclosures Swiss banking giant UBS’ decision to turn over information on 4,450 “secret” bank accounts to the U.S. Internal Revenue Service signals a major shift in accountability for the world’s financial markets. We spoke about the impact of this with Michael Diaz,…