Banco Patagonia SA statement concerning anti-money laundering & counter
terrorism financing policies
- Legal name: Banco Patagonia SA.
- Legal form: Corporation.
- Principal Place of Business: Argentina.
- Banking License issuing authority: Central Bank of Argentina (BCRA).
- Bank Number: 034.
- Date of Incorporation: 18/09/1928 - General Information regarding our entity can be found online at http://www.bcra.gov.ar
- Tax reference number (CUIT): 30-50000661-3.
- SWIFT Address: BSUDARBA.
- Registered Address: Perón 500 –Ciudad Autónoma de Buenos Aires-
- Number of domestic branches: 138-
Business Activities Information
- Business Activities Information.
- Principal areas of business activity: Universal Banking.
The Corporate Governance consists of a Board of Directors and Several Committees that manage the different types of risks.
Anti Money Laundering Responsible Officer
s an institution regulated by the Argentine Central Bank, our entity has to comply with regulations established by the Argentine Central and Argentine laws on Prevention of Money-
Laundering and Terrorism Financing.
Accordingly, our institution has designated a Director as officer responsible for the Prevention of Money-Laundering and Terrorism Financing.
The execution and control of the policies on Prevention of Money-Laundering and Terrorism Financing is delegated on the Operational Risk and Compliance´s Management.
Banco Patagonia SA Statement Concerning Anti-Money Laundering & Counter Terrorism Financing Policies
Anti-Money Laundering & Counter Terrorism Financing Policies
- Banco Patagonia coordinates the necessary mechanisms and controls to prevent that the Bank to be used to money laundering and terrorism financing. Likewise, the Bank coordinates the implementation of internal standards and procedures how to ensure compliance with regulations on these matters, issued by the different regulatory authorities (UIF, BCRA, CNV).
- Banco Patagonia acts in accordance with the regulations of the Financial Intelligence Unit (UIF, in its Spanish acronym), the Central Bank of Argentina (BCRA, in its Spanish acronym), the FATF’s standards and the United Nations resolutions.
- Banco Patagonia participates in the Financial System, as Regulated Entity, and makes the best efforts to apply the current regulation in order to prevent and combat the money laundering, financing of terrorism and corruption.
- Banco Patagonia implements principles of relationship with its customers and maintains the current code for its agents and employee to inhibit corrupt practices.
- Banco Patagonia uses specific parameters for the different customer segments, type of products, transactions, in order to identify those considered as alarms or suspected of precedent crimes of money laundering or terrorist funding, in accordance with laws. For such purposes, the Bank developed transaction monitoring systems.
- Banco Patagonia monitors transactions that might result from unusual fund management to prevent the deposits of funds from corruption sources.
- Banco Patagonia implements procedures in the development of products and services, to inhibit the money laundering and the terrorism funding. To that effect, the areas of Anti-money Laundering, Operational Risk and Regulatory Compliance are necessary participants in the development of new products.
- Banco Patagonia demands the implementation of "Know Your Customer" policies and criteria, in order to avoid any involvement of false holders. The resource movements through anonymous current accounts or associated with false holders was not admissible.
- Banco Patagonia evaluates and scrutinizes detected irregular transactions of its clients, considering the customer activity, the reasonableness of the trading volume in connection with its activity, typology, frequency, involved parties and amounts, financial capacity and any evidence of irregularity or illegality about the client or its transactions, in view of detection of situations which alert about or generate suspicion of money laundering, terrorist funding and corruption.
- Banco Patagonia implements due diligence procedures to mitigate the risks of money laundering, terrorism funding and corruption, in accordance with the activity, the jurisdiction and the agents involved.
- Banco Patagonia implements actions of restrictive nature in terms of customers engagement, continuance of commercial relationships, about have been assessed circumstances that would to feature suspicion of money laundering, terrorism funding or corruption, subject to relevant applicable laws.
- Banco Patagonia evaluates the correspondent relationships with another National and International Banks, in connection with mechanisms of anti-money laundering or counter-terrorism funding, application of anti-money laundering policies as specific aspects of shareholding controls, background related to the subject matter, mechanisms and procedures of prevention.
- Banco Patagonia considers the maintenance of the commercial relationship with partners and suppliers, implementing mechanisms to avoid procurements that might engage people with history of corruption.
- Banco Patagonia maintains specific channels for reception of complaints, including anonymous.
- The Banco takes due note of the evidences or complaints of corruption on the part of direct agents or other third parties, in accordance with the relevant legislation.
- The Banco verifies the facts or evidences that might be denounced on the part of direct agents or other third parties, against the Bank’s equity, in accordance with the relevant legislation.
- Banco Patagonia conducts, on confidential and restricted basis, the registration, analysis and communication processes of financial transactions with evidences of money laundering or terrorist funding to the competent authorities, including with reference to customers.
- Banco Patagonia preserves the identity of anonymous denouncers.
- Banco Patagonia ensures to its agents and employee that no retaliatory measure will be taken against those that would inform about questions related with or suspicions of violation of laws, regulatory norms or internal rules, in accordance to the principles of the Ethical Code.
- Banco Patagonia implements actions to protect the complaining employees that acting in good faith" connected with facts that arise as a result of the complaint.
- Banco Patagonia informs the competent authorities about transactions or transaction attempts that, in accordance with the current regulation, are characterized as suspicious transactions of money laundering, terrorism funding and other previous offences.
- Banco Patagonia responds with judicial and supervisory authorities, consistent with requirements corresponding to its function of Regulated Entity and Financial Entity, in accordance with the relevant legislation.
- Banco Patagonia has an Ethical Code and implements criteria for hiring personnel and that limits the conduct of agents and employee, focused in people’s background, money laundering, terrorism funding and corruption, and other background that eventually might be evident like previous offences as, likewise, history of negatives in the financial system.
- Banco Patagonia maintains a specific on-site training and capacitation program for agents and employees in the business process management, related with aspects, procedures and policies of anti-money laundering, terrorism financing and anticorruption principles.
- Banco Patagonia implements procedures of monitoring of the operational activity with public sector customers to avoid the use of the Bank in money laundering, terrorism financing or corruption processes
USA Patriot Act Global Certification
If you need to request a copy of Banco Patagonia´s USA Patriot Act Global Certification, please contact: firstname.lastname@example.org
Operational Risk and Compliance´s Management. Banco Patagonia SA