Here is the rewritten article in markdown format:
CABO VERDE: CFT Compliance Requirements for Banco Interatlântico, S.A.
======================================================
Banco Interatlântico, S.A. has implemented robust measures to prevent money laundering and terrorist financing (ML/TF) in compliance with international and national regulations.
Anti-Money Laundering and Combating the Financing of Terrorism (CFT) Program
The bank’s CFT program is designed to ensure that all transactions conducted by the institution are transparent, accountable, and free from illicit activities. The program includes a risk-based approach in its customer due diligence process, which involves:
- Verifying the identity of customers
- Monitoring their transactions for suspicious activity
- Conducting ongoing due diligence on correspondent accounts
Measures to Prevent Illicit Activities
Banco Interatlântico, S.A. has implemented various measures to prevent anonymous and numbered accounts, as well as payable-through accounts. The bank also uses an IT solution to filter all inward and outward payments against UN, EU, and OFAC proscribed lists.
Reporting Suspicious Activities
The institution is committed to reporting any suspicious customer activities or transactions to the relevant authorities, including:
- Republic’s General Attorney
- Financial Intelligence Unit (UIF)
Regular internal audits and compliance tests are also conducted on its AML/CFT policies and operational procedures.
Sanctions Policy
Banco Interatlântico, S.A. has implemented a sanctions policy that prohibits doing business with individuals or entities subject to international sanctions. The bank’s sanctions policy is available on its website (www.bi.cv).
Certification Regarding Accounts for Foreign Banks
As required by the USA Patriot Act, Banco Interatlântico, S.A. may be required from time to time to provide Certification Regarding Accounts for Foreign banks.
Commitment to CFT Compliance
Banco Interatlântico, S.A.’s commitment to CFT compliance is evident in its adherence to international standards and national regulations. The bank’s robust AML/CFT program demonstrates its dedication to preventing ML/TF and ensuring the integrity of the financial system.
Date: September 19, 2022