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Puerto Rico, Florida Bankers To Collaborate


September 26, 2002
Copyright © 2002 CARIBBEAN BUSINESS. All Rights Reserved.

The fight against fraud is uniting the Puerto Rico Bankers Association (PRBA) and the Florida Bankers Association (FBA).

PRBA Executive Vice President Arturo Carrion announced that his counterpart at the FBA, Thomas Kerr, is in San Juan to explore the possibility of both institutions sharing pertinent information related to fraudulent banking transactions.

Carrion said Kerr is in charge of the FBA’s Florida Bankers Fraud Alert System, an innovative electronic database used by member Florida financial institutions. "We don’t have an electronic database like that in Puerto Rico," Carrion said. "We think it would be beneficial to emulate the preventive system the FBA has developed to identify fraudulent transactions."

The PBA executive vice president said it would also be mutually beneficial for member Puerto Rico and Florida institutions to be able to access and exchange such information in both jurisdictions.

Kerr is scheduled to present the Florida system at a special meeting of the PRBA’s fraud prevention group on Friday. Representatives of the Puerto Rico Police, the FBI, the U.S. Special Attorney’s office, and the U.S. Secret Service–as well as Senate Juridical Committee Chairman Eudaldo Baez Galib–are expected to participate in the meeting. Carrion said Baez Galib has taken the initiative to contact the federal Securities & Exchange Commission regarding the development of a corollary database on fraudulent transactions.

This Caribbean Business article appears courtesy of Casiano Communications.
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