The Superintendency of Banks (SB) issued the norm that financial intermediation entities (EIF) must follow when faced with the information requirements of users with immobilized banking products by disposition of the Public Ministry, jurisdictional courts or other competent authorities.
Circular SB: number 014/21, of September 9, 2021, which was coordinated with the Public Ministry, instructs the EIF to provide information to users about the status of their funds or products immobilized by court order or the Public Ministry , and specify what information they can provide.
It establishes that the EIF must provide the number of the order, date of issue and name of the court imposing the action.
The norm also indicates that the entities, their employees and executives cannot refer to the Superintendency of Banks users whose products have been immobilized at the request of the judicial authorities or by the Public Ministry.
This will avoid unnecessary obstacles to users seeking information on frozen financial products, so that they can exhaust the process with greater agility.
As established by law, the immobilizations or precautionary measures ordered by the Public Ministry must be confirmed by a competent authority or jurisdiction within a period of 72 hours.
If the term elapses without the Public Ministry presenting a confirmation from a competent jurisdiction through the Superintendency of Banks, the EIF may lift the immobilisations.
To avoid the obstruction of the investigations of the Public Ministry, the obligation to keep confidential the information of accounts provisionally immobilized during the 72 hours of validity of this measure.
The norm is one of the joint initiatives of the Superintendency of Banks and the Attorney General’s Office (PGR), carried out under the framework of the Mutual Cooperation Agreement signed by both institutions on June 16, 2021.
The circular is available on the website of the Superintendency of Banks (sb.gob.do/sites/default/files/20210909_Circular-Instruccion-Inmovilizacion-de- Fondos.pdf)
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