Banplus International Bank, Inc.

   Prevention and Control of Money Laundering


Prevention and control of money laundering, results in the application of different mechanisms through which the mitigation efforts be made to the offense; but to understand the importance of their prevention and control, it is important to know what it is, how it is applied and what other accompanying events.


Definition of Money Laundering:

It is the process by which the goods or funds obtained illegally, manage to have legal appearance by a person or persons who integrate them into the various legal channels of the economy.



  • Placement: It is the initial stage, in which people try to put the goods or illicit funds into the financial and economic system.
  • Layering: Start the movement of assets or funds is given through various transactions so as to achieve fully disperse any hint or trace of illegality, so that makes it difficult for the authorities monitoring.
  • Integration:This is the final stage, where the goods or funds have already acquired legal character and thus returns to the economy or financial system through investments in real estate, purchase of luxury goods and business investment, among others.



In a broad aspect, it interferes in developing countries and affect different sectors of society (social, political and economic).

In particular, Money Laundering is a phenomenon of international dimensions, which is duly typified by global treaties and laws, results in imprisonment.


Organized Crime

Is the act or omission of three (3) or more persons associated for a time with the aim of committing one or more serious crimes or offenses established in accordance with the Palermo Convention, in order to obtain, directly or indirectly, a financial benefit , political or other material benefit.


Financing of Terrorism

It is any form of action, assistance or providing financial support to the activities of terrorist elements or groups, which require funds without distinction of origin to achieve their ends.


Legal Framework

  • Civil Code 1930.
  • Commercial Code of Puerto Rico of 1932.
  • Law on Negotiable Instruments and Banking Transactions, ACT. 208 OF 17 AUGUST 1995.
  • Banking Law of Puerto Rico.
  • Law Regulating International Finance Centre.
  • Law of the Office of the Commissioner of Financial Institutions.
  • Commercial Transactions Act.
  • Commission regulations.
  • Letters and circulars of the Commission.
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