NewsWhore
09-01-2010, 03:40 PM
The president of the Dominican Association of Commercial Banks, Jose Manuel Valdez told former President Hipolito Mejia that the Dominican banking system is well protected against the influx of narco-dollars or money laundering activities. He said that any deposit of more than RD$10,000 has to be justified as proceeding from a legitimate source. He added that banking, included the savings and loan associations, has measures in place to guarantee the proper origin of the resources received. Valdez said that more than 90% of the banks have a series of safeguards where money-laundering operations find it difficult to penetrate. According to the Listin Diario, some of the other measures include background checks on persons who secure loans in order to be sure that the money is properly used.
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More... (http://www.dr1.com/index.html#7)