Preventing money laundering

(Quito, January 2012.). – CAF - Latin American development bank - and the Quito Stock Exchange, with the institutional auspices of the Financial Analysis Unit, presented the documents prepared as part of the Stock Market Modernization Project - Module: Money Laundering Prevention.

To prepare the documents, the best national and international consultants were selected to research the legislation and the practices and reports required by financial intelligence agencies for various markets. On this basis two documents were prepared for the stock market as references for money laundering prevention.

For Krützfeldt Hermann, CAF director representative in Ecuador, "the process of market globalization and integration requires participants to implement modernization and self-regulation on a permanent basis in an effort to maintain the liquidity and efficiency required by the business sector, while making an effective contribution to national development."

The program focuses on deepening and modernizing the development of the stock market in Ecuador by implementing mechanisms to improve efficiency and effectiveness and build investor confidence, in addition to creating an academic network of corporate governance.

One of CAF’s objectives as a development bank is to promote the competitiveness and deepening of capital markets in the countries of the region in order to use financial resources more efficiently.