Further progress has been made in 2008 in
reducing the number of offshore financial centres,
with 36 permanent establishments closed down
by the year-end.
For more information, see: BBVA Group
Annual Report 2008 (www.bbva.com )
PREVENTING
MONEY LAUN-
DERING AND
THE FINANCING
OF TERRORIST
ACTIVITIES
The Prevention of Money
Laundering and the Financing
of Terrorist Activities
(henceforth referred to jointly
as the Prevention of Money
Laundering) constitutes,
above all, a priority objective
that the BBVA Group associates with its pledge to
promote and uphold the well-being of the different
communities in which it operates.
For the BBVA Group, ensuring that its products
and services are not used for illegal purposes likewise
constitutes an essential requirement for safeguarding
its corporate integrity, and thereby one of its main
assets, namely, the trust of the people and
institutions it deals with on a day-to-day basis
(customers, employees, shareholders, suppliers, etc.).
Prevention of money laundering and terrorist activities
Participants in training schemes on the prevention of money laundering
People specialising in activities for the prevention of both money laundering
and the financing of terrorist activities
(1) Includes 30 temporary staff.
Scope: BBVA Group.
In 2008, the Group has reinforced its Model
for Managing the Risk of Money Laundering as
follows:
• The adjustment of policies and procedures to
the regulatory changes made in the Group’s
operating countries and the adoption of best
international practices in these matters.
• The fine-tuning of existing monitoring systems
in all Group units, which make a significant
contribution to the ability to detect suspicious
operations made by any financial institution.
Likewise, the BBVA Group has continued to
cooperate with international organisations,
government bodies and other institutions in the
fight against organised crime, terrorism and other
illegal activities.
The training of staff as a key component of this
Model has continued to receive priority attention
in 2008 with a view to enabling all BBVA Group
employees to pursue their duties efficiently in the
Prevention of Money Laundering and the
Financing of Terrorist Activities. This training has
focused especially on those groups of employees
working in high-risk areas.
2008
2007 2006
49,939 45,905 48,405
276 (1) 250 170
RESPONSIBLE FINANCE
Corporate Responsibility Report 2008
35
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