PwC, Banif auditor between 2014 and 2015, identified a number of deficiencies in the Banif. By the way, just in his first work, which looked at the internal control of the bank system (which brings together the areas of internal audit, compliance and risk management), weaknesses were found.
“The deficiencies higher risk were closely related to information systems, the quality of data extracted from this system, the safeguarding of client assets, management of rich, money laundering and internal government, “said José Manuel Bernardo, president of PwC, on hearing this Thursday, April 14.
the indications are towards the Saturday magazine reported Thursday, speaking in a memorandum on the Banif internal control system showed weaknesses in the “identification and monitoring Politically Exposed persons “, the banks are obliged to a special monitoring. This concerns, for example, politicians and their families.
PwC, which began work in Banif in May 2014 and had a mandate until 2017, thus aligning the idea that the financial institution based in Funchal had a fragile structure. Antonio Varela, who was Banif administrator between 2013 and 2014 classified it as a “bad” bank.
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