International Bankers Group Adopts Anti-Money Laundering Guidelines.
Business Editors & Government Writers
MIAMI--(BUSINESS WIRE)--Nov. 5, 2001
The Florida International Bankers Association, FIBA FIBA Fédération Internationale de Basketball (International Basketball Federation)
FIBA Florida International Bankers Association
FIBA Fédération Internationale de Boxe Amateur
FIBA Financial Institution Benefit Association, Inc. , is taking an active role in the fight against money laundering The process of taking the proceeds of criminal activity and making them appear legal.
Laundering allows criminals to transform illegally obtained gain into seemingly legitimate funds. and today adopted detailed guidelines that govern transactions between banks at the 35th Annual Assembly of the Federation of Latin American Banks (FELABAN.)
The guidelines were developed by The New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Clearing House Association, L.L.C., a money transfer group recognized as one of the most active in the world.
More than 1,000 bankers from Europe, Asia, Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. and the U.S., meeting here today and tomorrow, are attending the first international financial industry conference to be held since September 11th. They are discussing the economic outlook of the region, the U.S. economy, and the new anti-money laundering Anti-money laundering ("AML") is a term mainly used in the financial and legal industries to describe the legal controls that require financial institutions and other regulated entities to prevent or report money laundering activities. legislation.
Cancellation of both the World Bank and International Monetary Fund fall meetings has moved the international focus to Miami, further solidifying this city's position as the "financial gateway to the Americas." The approval last week of several South American banks to operate bank branches in the U.S. also echoes Miami's position.
"Our role in the international banking community has never been more crucial, never been more challenging," said David Konfino, president of FIBA. "FELABAN brings to the forefront our industry's major initiatives through thoughtful and deliberate debate."
Through FIBA's efforts, policymakers meet directly with top corporate executives in a neutral setting where they can discuss current issues.
This year's guest speakers include Angel Gurria, former finance minister of Mexico, who will address the controversial role of multilateral development banks A multilateral development bank (MDB) is an institution, created by a group of countries, that provides financing and professional advising for the purpose of development. MDBs have large memberships including both developed donor countries and developing borrower countries. and provide an economic overview of Latin America. In his address to the general assembly on Tuesday, day two of FELABAN, Gurria will also deliver a progress report on globalization globalization
Process by which the experience of everyday life, marked by the diffusion of commodities and ideas, is becoming standardized around the world. Factors that have contributed to globalization include increasingly sophisticated communications and transportation efforts in the region.
"International banking's economic impact to Florida's economy is more than $3 billion," said Alberto Valdes, first vice-president, FIBA and chairman, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , International Bank of Miami.
"Miami benefits greatly from this meeting of 1,000 bankers from around the world who also will experience our culture, our restaurants, world-renowned hotels and overall, provide a needed economic lift to our visitor industry. I know our members are as excited to be here as we are to welcome them," he said.
Founded in 1970, the Florida International Bankers Association (FIBA) is a non-profit corporation serving as an essential networking and information resource for the local banking community composed of 149 members, of whom 72 are domestic and foreign banks, and 77 members are local companies and businesses engaged in providing services to the local international banking community. Since 1965, the non-profit association of the Federation of Latin American Banks (FELABAN) has represented over 900 financial institutions in 19 Latin American countries List of American countries