At the 4th Congress on Prevention of Money Laundering and Terrorist Financing, held in Santo Domingo, the chief executive of Banco de Reservas, Dr. Leonardo Aguilera, highlighted the need for compliance to be integrated into the various business areas of financial institutions as part of responsible management that contributes to the stability and sustainability of the system.
Panel on the prevention of money laundering
Aguilera’s speech was delivered in the panel titled The prevention of money laundering as a pillar of compliance culture: a strategic view from senior management, which also featured Steven Puig, president of Banco BHD. The talk was part of the 4th Congress, which included two conferences and four panels that brought together representatives from public and private organizations, regulators, and specialists.
Compliance as an ethical and strategic pillar
Aguilera stated that compliance is a fundamental pillar for the institution and must be approached from an ethical perspective, integrated into business decisions and aimed at strengthening a transparent and sustainable banking sector. “Anyone who is in the financial system, or any system, must first be honest, because an honest person with themselves will act honestly toward others,” he emphasized.
The president also emphasized that leaders’ example is essential for the compliance culture to be embraced at all levels of an organization. He considered it necessary for each area to know and apply the established rules and controls.
Risk management from senior management
For his part, Steven Puig argued that compliance‑related risks must be managed from the highest levels of organizations, due to their potential implications for society and the Dominican financial system. Referring to the balance between commercial objectives and effective anti‑money‑laundering management, Puig indicated that business should be developed according to its purpose, ensuring that the achievement of its goals is accompanied by due process in every transaction.
Congress objectives
The congress featured presentations on the national risk assessment and trends for the next GAFI round, as well as emerging typologies, risks and threats that will shape the PLAFT landscape in 2026. Other panels addressed border risk and its implications, the prevention of money laundering, and new avenues to combat crime through the application of the Asset Forfeiture Law.
Among the attendees were the Minister of Finance, Magín Díaz; the deputy prosecutor of the Public Ministry and director general of Prosecution, Wilson Camacho; authorities and representatives of supervisory and regulatory bodies; subject‑matter experts; as well as members of the Board of Directors and senior executives of Banreservas.
Strengthening cooperation and transparency
With this fourth edition, Banco de Reservas aims to promote the exchange of experiences and knowledge, strengthen cooperation among the various stakeholders involved, and contribute to the development of safer, more transparent, and trustworthy financial institutions.
Source credits: deultimominuto.com
