Prevention of Money Laundering
Money laundering is an activity that for years has been the focus of regulatory agencies and institutions around the world because it involves criminal activities such as drug trafficking, corruption, kidnapping, arms trafficking, crimes against the public administration and against the National Financial System. In order to curb this practice, policies, standards and procedures regarding money laundering prevention actions directed at the employees of the Conglomerate have been developed that, in addition to explanations, encourage attention to possible situations and suspicious transactions. These must be communicated to those responsible for the structures created specifically for this purpose.
Among other topics, the BMG Financial Conglomerate’s money laundering prevention policies include explanations about this activity, the applied governance and actions and guidance on how to act in certain situations.
The corporate documents aimed at preventing money laundering are:
“Anti-Money Laundering” Policy
The BMG Financial Group defines that the best way to contribute to the prevention of money laundering and countering the financing of terrorism is to establish policies, rules and procedures that prevent its products and services from being used for such activities. These policies aim at identifying, analyzing and communicating to the competent authorities any transaction that may represent evidence of money laundering.
“Know Your Customer” Policy
This policy is part of the internal regulatory framework of the BMG Financial Group. It guides employees in relation to the existing customer identification system and monitoring of the respective financial transactions, in compliance with Law 9.613/98, concerning money laundering and combat of terrorism financing, as well as other regulations in force.
“Know Your Employee” Policy
The purpose of this policy is to establish procedures aimed at providing adequate knowledge of the employees working in the BMG Financial Group and who are subject to compliance with the money laundering prevention regulations.
Detection, Analysis and Communication Procedures Manual
Due to the set of measures aimed at the prevention of money laundering, the BMG Financial Group establishes the procedures that its companies, branches and sensitive areas must put into practice to enable the detection of operations and suspicious situations, to analyze such situations and, when applicable, enter into contact with the competent authorities.
Employees take regular courses and attend lectures designed to generate greater understanding of money laundering practices and prepare them to take an active role in preventing this crime.
This involves the set of actions under the responsibility of the Compliance area designed to identify possible deviations in the implementation of the guidelines defined by the administration. These actions are periodically evaluated by the Internal Audit area and oversight bodies.