Anti-Money Laundering and Counter-Terrorism Financing

At Banco BASE we consider that risk management related to prevent Money Laundering and Financing of Terrorism is constantly evolving. Therefore, our Corporate Governance -in correlation to our principle of Responsibility- defined as an Institutional Practice that the whole staff be full of knowledge about regulatory requirements that this matter demands, such that our controls, policies and procedures allow us to be committed with guidelines of prevention and dissemination, significantly diminishing risks that could directly impact our Company, harming our reputation, patrimony and our competitiveness.

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The AML/CFT Automated Systems have proven to be the most globally optimal tool for countries, institutions and financial services companies in order to struggle against the flows of money generated through illicit activities. Nevertheless, experience shows that it is required an adequate scheme designs and prevention measures to effectively mitigate the probability of being used for this criminal activity in our daily professional performance.

In this scenario, with the clear intention to participate in the dynamics of globalized financial system by continuing the proper implementation of guidelines on the prevention and detection of operations with illegal proceeds and terrorist financing, Banco BASE has policies and criteria customer acceptance, control methodologies applied to on-boarding processes, transaction monitoring and regulatory reports as well as a structure and expertize of the AML/CFT staff.


By implementing a Risk-Based Methodology there are factors annual or preliminary that are evaluated such as products, transaction volume, customer risk rating and transact frequency. As they are incorporating new products, or change the frequency of each transaction, the Risk Models will be calibrated according to criteria previously authorized by our Communication and Control Committee (Compliance Committee).

Our Company has stepped the AML/CFT practice to updated methods, both national and international context. As a result, during the 2014 we consolidated the capabilities and professional level of the AML/CFT staff having accredited two members by the Florida International Bankers Association (FIBA) and the establishment of the Control & Intelligence Unit (UCI, by its acronym in Spanish) with the aim to improve the quality and content of researches with a perspective to the highest international standards.

Our goals are clear, be regarded as an honest and transparent financial entity to the Authority and disseminate our best practices in this matter to strengthen our business relations.