📚Global Approach

At CCSCEX® we rely on cooperation and collaboration between countries, international organizations, regulatory authorities and supervisors, as well as on the implementation of international standards and best practices in money laundering and terrorist financing risk management.

We focus on the adoption of policies, measures and strategies to prevent and detect money laundering and terrorist financing at a global level, with the aim of protecting the financial system and preventing its use for illicit purposes.

What is Money Laundering?

Money laundering has been defined by the United Nations as the surreptitious introduction of illegally obtained funds into the legitimate channels of the formal economy.

Phases of money laundering

The stages of money laundering are as follows:

Placement

It consists of the introduction of the liquid money into the legal economic and financial circle.

Processing

In this phase, the funds are mobilized multiple times through a large number of operations.

Integration

In this phase, money and capital are openly incorporated into the country's economy.

Consequences of Money Laundering

Money Laundering is a phenomenon of international dimensions that interferes with the development of countries and generates negative consequences that affect the different sectors of society, mainly in the social, political and economic aspects of nations. Due to this, there is a need to generate solutions through State policies and international support on measures that contribute to the efforts against Money Laundering.

Financing of terrorism

It is the act of providing, facilitating, safeguarding, administering, collecting or gathering funds by any means, directly or indirectly, for the purpose of being used in whole or in part by an individual terrorist or by a terrorist organization, or to commit one or several terrorist acts, even if the funds have not been effectively used or the terrorist act or acts have not been consummated (Ruling No. 044-2021, dated April 21, 2022 and was published in Official Gazette No. 42,110, dated April 21, 2021).

Financing of the proliferation of weapons of mass destruction.

It is the act of providing funds or financial services in any form or modality, which are used, in whole or in part, for the manufacture, acquisition, possession, development, export, transshipment, brokerage, transportation, transfer, storage or use of nuclear, chemical or biological weapons and their means of delivery and related materials (including both technologies and dual-use goods used for non-legitimate purposes), in contravention of applicable national laws and international agreements Ruling No. 044-2021, dated as of April 20, 2022 and published in Official Gazette No. 044-2021, dated as of April 20, 2021, published in Official Gazette No. 42,110, dated April 2021. 044-2021, dated April 21, 2022 and published in Official Gazette No. 42,110, dated April 21, 2021).

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