SANTO DOMINGO.- National District prosecutor Alejandro Moscoso yesterday again warned banks, car dealers  and real estate agencies that they could face charges of money laundering if they don’t perform due diligence in identifying the origin of their clients’ money.

“The country could become a fiscal paradise” controlled by narcotics traffickers if the businesses don’t look into the assets of the people with whom they do business with, Moscoso said.

The official was responding to a statement by executives of the Real Estate Companies Association that it’s impossible for them to identify the origin of the money of all their clients.

From: DominicanToday.com

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