The many cases of financial fraud uncovered over recent years have brought under suspicion the effectiveness of the controls exercised by the Superintendence of Banks and its complacency with financial company management irregularities. Lawyer Cesar Amadeo Peralta said that the big losers of the hanky-panky financial operations are the depositors. The expert called for better handling of the credit institutions. He recommended the creating of a Special Prosecutor for Financial Crimes to expedite these cases. He also called for the amendment of the Monetary and Financial Law. Peralta says that two-books systems, forged financial statements and presenting of unreal balances by the financial entities are all common operational schemes that have been used by the bankrupt entities.
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El Caribe
11 March 2019