Congresswoman Jenniffer González, U.S. Department of the Treasury, and members of the banking sector discuss financial security issues

San Juan, Puerto Rico - Congresswoman Jenniffer González Colón hosted a roundtable to discuss countering illicit banking in Puerto Rico, including regulations and compliance, as well as training and collaborative efforts against illicit financial activities.

Attendees included the Hon. Brian Nelson, Under Secretary for Terrorism and Financial Intelligence of the U.S. Department of the Treasury, Jimmy Kirby, Deputy Director of Financial Crimes Enforcement Network (FinCEN), Christopher Burdick, Deputy Assistant Secretary, Office of Legislative Affairs, Viviana Muñoz Fernández, Senior Advisor - FinCEN and Michael White, Senior Advisor to the TFI Under Secretary.

Also in attendance were Zoimé Alvarado, president of the Puerto Rico Bankers Association, Consuelo Sifre and Vanessa Rodríguez, Senior Manager and AML Office of Banco Popular, Carmen M. Pagán, Senior Vice President, Compliance Director of First Banc, César Ortiz, Chief Risk Officer of Oriental Bank, María L. Vila, In House Legal Counsel of Banco Cooperativo de Puerto Rico and Beatriz Ramírez de Arellano, Chief Risk Office of Nave Bank.

"Our financial institutions must be well-informed and equipped to identify and report any suspicious or illicit activity as bad actors seek to exploit and undermine our financial system. Today's roundtable serves as an opportunity to hold an open dialogue on matters that include combatting illicit finance and preventing the access of those who seek to exploit our banking system to launder funds, finance terrorism, commit fraud, among other delinquent activities," said Jenniffer González Colón.

"The US Treasury is committed to supporting our partners in protecting Puerto Rico's financial sector against abuse. Combatting priority threats like money laundering, drug trafficking, and corruption requires close collaboration with law enforcement, regulators, and the private sector. I am glad to be here on the island today to continue work on these important illicit finance issues," said Brian Nelson, Under Secretary for Terrorism and Financial Intelligence.

The discussion highlighted the importance of collaboration between federal, state, and private banking entities to identify and mitigate risks associated with illicit financial transactions. Specifically, the dialogue touched on countering money laundering, terrorism financing, and other illicit financial practices.

Lastly, participants discussed recent legislative initiatives in Puerto Rico to strengthen oversight of international banking entities and financial institutions.

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