Conceptually, money-laundering and the financing of terrorist activities comprises a variety of commercial or financial operations that aim at incorporating resources, goods and services originating from or connected to illicit acts into the economy of every country.
It refers to an increasing global threat, and the measures to control the problem have become an intense focus for international efforts. The BNDES, as an ethical and responsible financial institution, operates in compliance with international commitments taken on by the federal government and aims at preventing the practice of money-laundering and the financing of terrorist activities when carrying out its operations in the country and overseas, in accordance with the national legislation and the legislation in effect in every country where it operates.
Within this context, we highlight some efforts carried out by the BNDES System. It:
- encourages and takes part in joint efforts within the scope of the Brazilian Financial System to prevent and combat money-laundering and/or the financing of terrorist activities;
- rejects the transaction of resources through anonymous current accounts or linked to fictitious parties in the BNDES’ operations;
- analyzes the instruments used in its operations, as well as the operational structure, the parties and amounts involved, the financial capacity and the economic activity of the stakeholders and/or beneficiaries and any indication of irregularity or illegality, thus allowing the Bank to identify evidence of money-laundering and/or the financing of terrorist activities;
- uses, when the circumstances reveal evidence of money-laundering, measures of a restrictive nature regarding the stakeholders and/or beneficiaries, blocking operations; and
- promotes training of its employees on how to prevent and combat money-laundering and/or the financing of terrorist activities.