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Ecuadorian Petroleum company and UAFE will implement Anti-Money Laundering Unit
Posted On 12 Mar 2018
Ecuadornews:
The public company of Petroleum, Petroecuador, reported that together with the Financial and Economic Analysis Unit (UAFE) they will implement an anti-money laundering unit.
The UAFE is the technical entity responsible for the collection of information, reporting, execution of national policies and strategies for the prevention and eradication of money laundering and the financing of crimes.
It is an entity with operational, administrative, financial autonomy and coercive jurisdiction ascribed to the Coordinating Ministry of Economic Policy or to the body that assumes its powers, according to its portal.
Petroecuador said in a statement that with UAFE they signed a specific cooperation agreement to develop collaborative initiatives that contribute to strengthening it and to work in the fields of prevention, detection and eradication of the crime of money laundering and financing of crimes.
For this purpose, joint actions will be promoted in the areas of policy advice and procedures necessary for the implementation and creation of a Complementary Anti-Money Laundering Unit within Petroecuador, as well as training the personnel that integrate it, he said in a statement.
“This unit will be the benchmark for the validation of information gathering of its public servants, internal and external agents at national and international level,” he said.
This, in order to coordinate, promote and execute cooperation programs and delivery of information to the UAFE, in order to execute quick and efficient actions to combat this type of crime.
The policies of prevention, detection and eradication of money laundering and the financing of crimes will also be strengthened within the Petroecuador Public Company, through the training and professional training for diagnosis and reporting to the competent control bodies.
Likewise, reports of unusual and unjustified operations by the public company, in the system designed for this purpose by the UAFE, will be reported in a well-founded manner and under the established parameters, he added.
“This agreement will have an initial duration of three years and the active participation of the authorities and all Petroecuador officials is expected,” he concluded. (I)
