He Bank of the Eastern Republic of Uruguay (BROU) and the National Customs Directorate (DNA) signed an agreement to implement the Qualified Economic Operator Program, which seeks to strengthen the risk management of money laundering and terrorist financing.
After signing the agreement, which will make it possible to establish reciprocal cooperation mechanisms, the National Director of Customs, Jaime Borgiani, recalled the signing of an agreement with the customs of USA to “combat money laundering, through which each certified operator must have a security program in their operations in money laundering”.
“That is what we want to collaborate with our Republic Bank and the bank is going to support the program by granting its benefits to clients and to those who are certified”, he specified about the scope of the agreement.
In turn, Borgiani highlighted that the Economic Operator program “is not a Uruguayan creation, it has developed and has fundamentally been understood not only by customs, but also by the different members of the foreign trade chain, even in the financial sector”.
Regarding its scope, the hierarch highlighted that “it grants benefits to those operators who, before the customs administration, demonstrate that they meet certain control and security requirements, both for cargo and for their operations.”
The BROU highlights that it helps to improve competitiveness
He BROU president, Salvador Ferrer, assured that the measure seeks to “simplify the lives of our customers and that of everyone” and considered that “when we talk about competitiveness, we are left with a few variables, but in reality these are the things that help the export sector to generate efficiencies, which is what we are all looking for”.
“In the banking sector, everything that has to do with money laundering is present and many times generates eventual discomfort with our clients”, he was sincere ferrer, who later indicated: “To do it neatly, this gives us the idea that we can work better and with institutions such as Customs and the Bank, in order to have a better competitiveness for the country”.
The agreement will also imply the creation of a framework to exchange information, experiences and strengthen the risk management of money laundering and financing of terrorism – LAFT, by companies related to the Qualified Economic Operator Program (OEC).
Source: Ambito
