Electronic steps against money laundering

The National Securities Commission (CNVM) is considering the development of a software programme to help track possible money laundering attempts made through transactions on the capital market. The programme is supposed to become part of a more complex trading surveillance system, and its development is to begin with American help. CNVM representatives and US Ambassador Michael Guest on Tuesday signed a technical assistance agreement to improve the regulations on fighting money laundering and terrorism funding through the capital market. The agreement is also intended to bring CNVM’s regulations in this regard up to date. CNVM commissioner Paul Miclaus specified the Commission had investigated alleged money laundering cases in the course of time and then transferred the investigation to the proper authorities. Miclaus added there were no regulations on preventing funding for terrorism at the moment. ZF