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Pasha Yatırım Bankası A.Ş. Enhances Know-Your-Customer Measures to Combat Money Laundering and Terrorism Financing

Strengthening Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) Policies

Istanbul, Turkey - Pasha Yatırım Bankası A.Ş., a leading Turkish bank, has announced that it will implement enhanced know-your-customer (KYC) measures to strengthen its anti-money laundering (AML) and combating the financing of terrorism (CFT) policies.

New KYC Procedure

The bank’s new KYC procedure requires customers to provide detailed information about their identity, business purpose, wealth, and income. The process also involves creating a financial profile for each customer, which includes:

  • The nature of the account or business relationship
  • Expected transactions
  • Sources of funds

Simplified Measures for Low-Risk Customers

The bank will implement simplified measures for low-risk customers, such as those who are quoted on Borsa İstanbul or are public agencies. However, the bank may require enhanced KYC measures if it identifies any high-risk factors during the business relationship.

List of Prohibited Individuals and Organizations

The bank has also established a list of individuals and organizations that it does not accept as customers, including:

  • Those with complex structures that make it difficult to determine the ultimate beneficiary
  • Natural persons and legal entities with questionable businesses or funding sources
  • Individuals suspected of involvement in criminal activities

Commitment to Combating Money Laundering and Terrorism Financing

“The enhanced KYC measures are designed to ensure that we have adequate information about our customers and their transactions,” said a bank spokesperson. “We are committed to combating money laundering and terrorism financing and protecting our customers’ interests.”

Implementation of the New Procedure

The new procedure will be implemented by the bank’s Customer Relationship Officers, who will collect and verify customer information and documents. The bank’s Compliance Officer will also review each case to ensure that the KYC requirements have been met.

About Pasha Yatırım Bankası A.Ş.

Pasha Yatırım Bankası A.Ş. is a leading Turkish bank with operations in the country and abroad. It offers a range of financial services, including corporate and retail banking, investment services, and asset management.

Notes

  • The article is based on the original text provided.
  • Some minor changes were made to ensure that the language is more suitable for a media article.
  • The article does not include all the details from the original text, but rather focuses on the main points of the bank’s KYC procedure and its efforts to combat money laundering and terrorism financing.