Financial Crime World

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Kapital Bank’s Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) Framework

Kapital Bank has implemented a comprehensive framework to prevent and detect money laundering and terrorist financing activities. The bank’s AML/CFT policies and practices are designed to meet all legal and regulatory requirements, ensuring that it remains compliant with global standards.

Key Components of Kapital Bank’s AML/CFT Framework

Compliance Function

  • Ensures the bank meets all legal and regulatory requirements related to AML/CFT
  • Conducts risk assessments to identify potential vulnerabilities
  • Implements measures to prevent money laundering and terrorist financing
  • Collaborates with supervisory authorities to ensure effective compliance

Know Your Customer (KYC) Program

  • Sets and manages globally consistent standards/policies for customer due diligence
  • Utilizes customer risk scoring to assess the level of risk associated with each client
  • Maintains accurate and up-to-date customer data in the bank’s internal database

Transaction Monitoring

  • Conducts global transaction monitoring to identify unusual or suspicious transactions
  • Performs robust investigations to provide a holistic review of both new and existing clients across various businesses and regions

Reporting Requirements

  • Creates, tracks, and files Suspicious Activity Reports (SARs), Suspicious Transaction Reports (STRs), and Currency Transaction Reports (CTRs) as required by regulatory authorities in many countries.

Partner Evaluation

  • Screens all partners before establishing business relationships
  • Provides an opinion on the establishment of collaboration based on the results of the screening process

Compliance Systems

  • Utilizes Fico Tonbeller modules for screening and evaluation
  • Integrates with Refinitiv (World check Database) to enhance due diligence capabilities

Code of Conduct

  • Regulates employee behavior within and outside of work hours and social activities
  • Ensures control over actions to prevent any potential risks or reputational damage.

By implementing this comprehensive AML/CFT framework, Kapital Bank demonstrates its commitment to preventing money laundering and terrorist financing activities, ensuring a safer and more secure financial environment for all stakeholders.