BancoSol complies with FATCA
We inform all our clients that Banco Solidario SA assumed the commitment to comply with the requirements established in the Foreign Tax Compliance Act (FATCA) approved by the Government of the United States in March 2010 and that became effective as of July 1, 2014.
The objective of FATCA is to identify and obtain information on US tax residents (persons required to file and pay taxes in the United States) that have money and other financial assets outside the United States, to avoid tax evasion through mechanisms such as Direct or indirect investments in foreign countries.
Within that framework, Banco Solidario SA was registered as a “Participant Foreign Financial Institution” before the Internal Revenue Sen / ice, being identified with the Global Intermediary Identification Number (GIIN) ULGMIJ.99999.SL.068.
To comply with the aforementioned regulation, Banco Solidario SA has established policies and procedures in accordance with the responsibilities assumed before the IRS in relation to FATCA. FATCA will exclusively affect personal clients and companies that are considered "American person" for the tax purposes of the United States of America.
PREVENTION OF THE LEGITIMATION OF ILLICIT PROFITS AND FINANCING OF TERRORISM
Banco Solidario SA complies with current national regulations and legal provisions and the best international recommendations regarding the prevention of the Illicit Profit Legitimation and Terrorism Financing, through a methodology based on Risk Management AML / Fl '.
The Integral Risk Management Model for the Prevention of Money Laundering and Financing of Terrorism created by Banco Solidario SA, is constituted considering Basel and adopting among several other criteria and methodologies of the RISICAR, COSO (ERM) models with a structuring under the Customer, Products, Services concepts. Channels and Geographical Location, combining in its structure developments and applications based on the SARLAFI 'model, integrating it with the GIR of ISO31000.
The Prevention and Compliance Unit of Banco Solidario SA has highly qualified personnel and has been part of the model construction processes adopted by the entity. obtaining the necessary knowledge to ensure compliance with the Norms and Procedures related to the Prevention of the Crime of Legitimation of Illicit Gains, Financing of Terrorism and Previous Crimes. It also adopts actions to know and, if necessary, adopt the recommendations and good practices established in the international environment, strictly complying with external regulations necessary for maintaining relations with international banks.
Within one of the fundamental pillars of the concept for Prevention, it establishes a Model of Training and Continuous Evaluation, supported by the basic concept of awareness, obtaining as a result the commitment of all its personnel.
- Reading Material for Applicants
- 40 FATF Recommendations
- WOLFSBERG form (Banco Solidario S.A.)
- Foreign Bank Certification