ANNUAL REPORT 2010

Prevention and Control of
Money Laundering and
Terrorist Financing (ML/TF)
The mission of Mercantil’s Prevention and
Control of Money Laundering and Terrorist Financing Unit is to ensure compliance with the
money laundering and terrorist financing (ML/TF) legislation in force in Venezuela and in the
countries in which Mercantil Servicios Financieros operates, supporting the organization through
a systematic, professional approach in order to detect, follow up and manage reputational risk
due to ML/TF by providing data, analysis and recommendations to guarantee its adherence to the
regulations and the best international practices on the matter. These include the
recommendations of the Financial Action Task Force (GAFI), the Caribbean Financial Action Task
Force (GAFIC), the Wolfsberg Principles and the Customer Due Diligence for Banks document of
the Basel Committee on Banking Supervision of the Bank for International Settlements.
Mercantil Servicios Financieros
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