Money laundering must be stopped: Justice Minister
Santo Domingo. – Justice minister Francisco Domínguez on Thursday called for preventive measures to avert money laundering by casinos, betting parlors, real estate agencies and jewelry shops.
He said money laundering cases aren’t easy and take time, resources, technical expertise and cooperation.
Speaking to open Bancamerica’s Anti-Money Laundering Congress at the Hilton Hotel, the official said the war on money laundering, terrorist financing and organized crime requires joint efforts both domestically and internationally, as well as authorities in all public or private entities that receive, manage or enforce public resources, whether state or municipal.
He said to deal effectively with the risks of laundering, which moves an estimated US$500 billion per year in the country, derived from narcotics, the resources should be managed more fairly, in the sense of enforcing laws which are socially and morally right
Citing statistics, Dominguez warned that more than ever and in recent years the country has fought a hard war on organized crime.
He stressed the congress’ importance and Bancamerica’s efforts to strengthen the fight against asset laundering, calling it a special and sophisticated crime.
He said laundering is essential for criminal groups, for which its prevention limits their criminal operations.
Supreme Court Chief Justice Mariano German, among other authorities also attended the activity, in which Bancamerica Corporate director Alfredo I. Vargas deliverd the keynote address.