On Wednesday morning, the National Bank sent a note to Juan Carlos Bolaños Rojas and his JCB companies indicating they are breaking all commercial relations with him and his represented.
The decision of the bank, the largest in the country, is based on a decision by the Bank’s Compliance Officer. The compliance committee ordered the entity to separate completely from the client.
Although the credit lines managed by Juan Carlos Bolaños and the JCB Company with the National Bank are not significant, the compliance officer would have detected serious situations that compel him to make the decision.
The bank would be about to file a complaint before the Public Ministry.
According to the agreement 12-10 of the General Superintendence of Financial Entities (SUGEF) in the Regulations for Compliance with Law Number 8204, the responsibilities of the Compliance Committee of the National Bank are:
-To issue recommendations regarding the creation and execution of policies to prevent risks and practices related to money laundering and financing of terrorism.
-Submit to the General Management and to the Compliance Committee, at least every three months, a report detailing the clients who have undergone upward or downward movements in their risk classification, as well as a summary of the suspicious operations reported in said period.
-Submit to the General Management and to the Board of Directors or equivalent body, at least every six months, a report on the performance of work related to the prevention of money laundering, financing of terrorism, as well as a summary of the suspicious transactions reported to the Financial Intelligence Unit, informed to the corresponding Superintendence.