Considering the increasing complexities of banking products, activities and information technology, the risk of banks being used for committing crimes of money laundering and financing terrorism increases.
In order to prevent the bank from being targeted by money laundering and terrorist financing, the bank is subject to:
In order to increase the effectiveness of the implementation of AML & CFT Principles, the bank has established a system and infrastructure based on 5 pillars.
In implementing active monitoring of Directors that The Compliance Director has the duty and responsibility as follows:
Active supervision by the Board of Commissioners at minimum shall include:
To provide effective examination of Implementation of AML and CFT, bank ensures that AML and CFT Program will be monitored and reviewed by Internal and External Audit regularly.
In supporting the monitoring activity of Customer’s profile and transaction in order to run effectively, an information system has been created and developed that is able to monitor, identify, analyze, and supply the report with the characteristic of transaction based on risk made by a Customer.
To ensure an expert skill level and better understanding of duties for all staff, bank provides continuing training of AML and CFT which includes: