Agreement signed to strengthen anti-money laundering and transparency in the foreign exchange sector

The Association of Compliance Officers of the Dominican Republic (AOCRD) and the Dominican Association of Foreign Exchange Brokers (ADOCAMBIO) have signed a cooperation agreement aimed at strengthening the prevention of money laundering and the financing of terrorism, as well as promoting best compliance practices in the foreign exchange sector.

This agreement aims to establish mechanisms for collaboration, information exchange, and the joint development of training and refresher programs for compliance officers, foreign exchange brokers, remittance and exchange agents, as well as other key stakeholders in the sector.

The signing of this agreement marks a significant step toward establishing continuous training spaces, enhancing internal controls, and promoting transparency in foreign exchange operations, thereby strengthening the Dominican Republic’s financial crime prevention and control system.

During the protocol ceremony, held at the offices of the AOCRD, participated Messrs. Ramón A. González and Edwards Carvajal, president and secretary of the AOCRD, respectively, as well as Ms. Clarisa Martínez, president of ADOCAMBIO, and Ms. Milagros Rosado, secretary and representative of the board in ADOCAMBIO’s Compliance Committee. All stressed the importance of collaboration between the two associations to ensure a safer financial and foreign exchange sector aligned with international standards.