CABEI strengthens the compliance culture in the organization


Tegucigalpa,March 6th, 2023. - As part of the strengthening of its compliance culture, the Central American Bank for Economic Integration (CABEI) received on February 16, 2023 a high-level mission from the US firm Morrison Foerster (MoFo), which addressed environmental and social, market and financial crime risks, including fraud, corruption and international sanctions.  

The mission had the opportunity to meet with CABEI leaders, discuss the compliance culture throughout the institution and the relevance of the compliance function in the organization.

The President, Dr. Dante Mossi said, "We are very excited to continue strengthening the institutional compliance culture aimed at preventing and managing these risks to safeguard fiduciary responsibility to stakeholders and support the achievement of the region's development objectives that improve social welfare".

The mission was led by John Smith, former Director of the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) and currently co-head of MoFo's national security practice and a member of the firm's Global Risk and Crisis Management Group and White Collar Investigations Group.

Accompanying the mission were partners of the firm with expertise in economic sanctions, export controls, compliance, securities, corporate internal investigations, anti-corruption, equity and debt issuance, and Environmental, Social and Governance (ESG).

CABEI, as the most relevant source of financing for the region, strengthens controls covering all counterparties and operations through the implementation of the regulations on Money Laundering Risk Management, Terrorism Financing, Proliferation of Weapons of Mass Destruction, Integrity and Sanctions.