Andina

Peru President: Supervision to help combat money laundering

18:15 | Lima, Jun. 4.

The bill enabling the Superintendency of Banking, Insurance, and Private Pension Fund Administrators (SBS) to oversee Peruvian credit unions will help fight informality and money laundering, President Martin Vizcarra affirmed Monday.

The Head of State met with SBS Head Socorro Heysen this afternoon.

At the gathering, the Peruvian leader expressed his administration's support for this initiative expected to be approved by Congress.

It must be noted the SBS had called on Parliament to pass such bill.

In this regard, lawmakers from diverse political parties had also asked Congress Chairman Luis Galarreta to debate this topic.

According to the World Bank, an eventual supervision by the SBS would definitely have a positive impact on Peru's assessment process to become a full member of the Organisation for Economic Cooperation and Development (OECD).

Similarly, the International Monetary Fund (IMF) considered the Peruvian Congress should pass the bill authorizing such supervision.

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Published: 6/4/2018