Pursuant to its anti-money laundering efforts, the Federal Bureau of Investigation (FBI) executed a search warrant at the offices of South Bank International, issued based on probable cause for the following federal law violations:

• Conspiracy to defraud the Unites States Department of the Treasury (18 U.S.C. § 371)
• Wire fraud (18 U.S.C. §1343)
• Money Laundering Violations—Domestic (18 U.S.C. §1956 (a)(1)) and International (18 U.S.C. § 1956 (a)(2))
• Failure to file suspicious activity reports (31 U.S.C. §5318 (g))

Today’s intervention was the result of parallel investigative efforts between the FBI San Juan Division and the Money Laundering and Asset Recovery Section of the U.S. Department of Justice and the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of Treasury and the Office of the Commissioner of Financial Institutions (OCFI).

Although this intervention was the product of separate investigative efforts, the end result would not have been possible without the participation of the entities involved. Failure to maintain a proper AML program (as required of financial institutions by federal law), as well as monitor and report suspicious transactions, are serious crimes. The FBI is actively pursuing these violations on the Island.

Public tips and information assist the FBI and its federal, state, and local law enforcement partners. Citizens with information are asked to contact the FBI San Juan Field Office at 787-754-6000, or to submit tips through the FBI’s tip line available on our website at tips.fbi.gov. Tipsters can remain anonymous.

The public is reminded that all persons are presumed innocent unless and until convicted in a court of law.