Company: BPOPM
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001193125-25-043848
Chunk: 55

Company: POPULAR, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1A
Chunk 55
---
, which may take years and be
material to Popular, may be difficult to predict or estimate.
Complying with economic and trade sanctions programs
and anti-money laundering laws and regulations
can increase our 
operational
and
compliance
costs
and
risks.
If
we,
and
our
subsidiaries,
affiliates
or
third-party
service
providers,
are 
found to
have failed
to comply
with applicable
economic and
trade sanctions
programs and
anti-money laundering
laws 
and
regulations,
we
could
be
exposed
to
fines,
sanctions
and
penalties,
and
other
regulatory
actions,
as
well
as 
governmental investigations.
  32 
As
a
federally
regulated
financial
institution,
we
must
comply
with
regulations
and
economic
and
trade
sanctions
and 
embargo
programs
administered by
the
Office
of
Foreign
Assets
Control
(“OFAC”)
of
the
U.S.
Treasury,
as
well
as
anti-money 
laundering laws and regulations, including those under
the Bank Secrecy Act. 
Economic and trade sanctions regulations and programs administered by OFAC prohibit U.S.-based entities from entering 
into or facilitating
unlicensed transactions with, for
the benefit of,
or in some
cases involving the
property and property interests
of, 
persons,
governments or
countries
designated by
the
U.S.
government under
one
or
more
sanctions
regimes,
and
also
prohibit 
transactions
that
provide
a
benefit
that
is
received in
a
country
designated
under
one
or
more
sanctions
regimes.
We
are
also 
subject to
a variety
of reporting
and other
requirements under
the Bank
Secrecy Act,
including the
requirement to
file suspicious 
activity and currency
transaction reports, that
are designed to
assist in
the detection
and prevention of
money laundering, terrorist 
financing
and
other
criminal
activities.
In
addition,
as
a
financial
institution
we
are
required
to,
among
other
things,
identify
our 
customers, adopt formal