Global Efforts to Prevent Conflict and Promote International Security
In today’s interconnected world, international cooperation has become crucial in preventing conflict, deterring aggression, and responding to emerging or current crises. Sanctions are a key tool used by groups of nations to achieve these goals.
What Are Sanctions?
Sanctions are measures designed to deter serious illegal activities such as terrorism, human rights abuses, and weapons proliferation. They can take the form of economic sanctions, travel bans, or asset freezes. The goal is to pressure countries or individuals to change their behavior and comply with international norms.
AIB’s Approach to Sanctions
As a responsible financial institution, AIB Group plc takes its commitment to complying with international sanctions very seriously. Our Financial Crime Policy outlines our approach to managing sanction risks, including screening customers and transactions for potential breaches.
Combating Fraud
Fraud is a significant threat to individuals, businesses, and the global economy as a whole. AIB has implemented robust measures to prevent and detect fraud, including:
- Regular training for employees
- Advanced technology to monitor transactions
Anti-Bribery and Corruption Efforts
Bribery and corruption undermine stakeholder legitimacy and trust, and can have severe consequences for individuals, businesses, and societies. AIB is committed to preventing bribery and corruption through our Anti-Bribery and Corruption (ABC) programme, which includes:
- Regular training
- Communication with employees
About This Document
This document provides an overview of AIB Group plc’s internal Financial Crime Policy, which defines our approach to managing financial crime risks. The policy covers anti-money laundering, countering the financing of terrorism, sanctions, fraud, and ABC. It was approved by our Board Risk Committee in September 2022.
Key Highlights
- AIB is committed to complying with international sanctions and takes a robust approach to managing sanction risks.
- We have implemented measures to prevent and detect fraud, including regular training for employees and advanced technology to monitor transactions.
- Our Anti-Bribery and Corruption programme seeks to prevent bribery and corruption through regular training and communication with employees.
- The Financial Crime Policy is embedded within business operating procedures and subject to annual content verification to ensure it remains up-to-date.
Conclusion
AIB Group plc is committed to playing a responsible role in promoting international security and preventing financial crime. Our Financial Crime Policy outlines our approach to managing these risks, and we are dedicated to ensuring compliance with all relevant regulations and standards.