Money-Laundering Prevention

Money-Laundering Prevention

Since 1997, Intercam has led the financial industry in money-laundering prevention, developing clear policies and procedures, even acting in advance of Mexico’s introduction of rules for the local industry to comply with FATF guidelines. Furthermore, for the seventh year in a row, Intercam is the sole organizer of the Annual Money-Laundering Prevention Convention, involving exhibitors from international and domestic financial institutions and authorities, attended by more than 100 compliance officers from various companies.

Intercam intends to remain at the forefront of this field, and has invested heavily in human capital, training and, especially, in information systems that bolster internal transactional controls and generate nationwide early alerts to preventively mitigate this risk. Our corporate advisors closely adhere to “Know your Customer” guidelines, and regularly visit their clients to determine the source of their income, the purpose of their transactions, and their transactional profile, to establish parameter for monitoring movements on a daily basis–by product, size, frequency and nature.  To do so, we have a proprietary system that we developed with the support of SysPLD, an external consulting firm.

Strict compliance with local and international regulations, as well as integrity, are part of our Mission, Philosophy and Values.  Additionally, professionalism is one of our basic characteristics, enabling us to become leaders in Money-Laundering Prevention, developing clear policies and procedures in anticipation of events like Mexico’s adoption of Financial Action Task Force (FATF) guidelines in this country.

As one of our foremost actions, we are proud organizers of the Annual Money-Laundering Prevention Convention, where exhibiters from domestic and international financial institutions present the latest advances, attended by compliance officers from various firms and public-sector representatives.

With the aim of maintaining this leadership, we have invested heavily in human capital, training and, especially, in information systems that bolster internal transactional controls and generate nationwide early alerts to preventively mitigate this risk. Our corporate advisors closely adhere to “Know your Customer” guidelines, and regularly visit their clients to determine the source of their income, the purpose of their transactions, and their transactional profile, to establish parameter for monitoring movements on a daily basis–by product, size, frequency and nature.  To do so, we have a proprietary system that we developed with the support of SysPLD, an external consulting firm.

Additionally, each of our more than 2,500 employees strictly applies our Internal Code of Ethics and conduct, receiving constant training and evaluation to reinforce the integrity of our core asset: human capital.

With these actions, we reiterate our commitment to Money-Laundering Prevention and compliance with regulations in Mexico and internationally, a key part of our actions as a Socially Responsible Company.

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Contact:

Miguel Ángel Vences Linares, CPA, Intercam Vice President for Compliance, Fraud Prevention and Audit

mvences@intercam.com.mx

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