Guatemala: Banking Authority Launches New Agency
The Guatemalan Banking Regulator (SIB) has opened a new information office in the Quetzaltenango region.
Tuesday, August 31, 2010
The new office's objectives will be to, "supervise the financial system in order to improve economic stability, gather intelligence and information relating to money laundering, as well as provide financial education and other services to the public," the banking regulator, Édgar Barquín, told Prensalibre.com.
Banks in Costa Rica must provide customer’s banking information directly to Costa Rican Drug Institute when requested by the office.
Constitutional Court confirmed that banks in the country are obligated to provide their clients all information concerning their accounts.
The Superintendency of Banks in Guatemala is calling for public consultation on draft regulations for operational risk management for banking security.
In February a law comes into force authorizing the lifting of bank secrecy of companies and individuals with a court order at the request of tax authorities.
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