Anti-money laundering and countering the financing of terrorism policy:
Transport and Development Bank has implemented compliance principles into our business operation in accordance with the Law on Anti-money laundering and countering the financing of terrorism (AML/CFT Law), as well as regulations, recommendations, and standards issued by international and domestic regulatory bodies.
The Bank has developed an AML/CFT program covering Know Your Customer (KYC) Procedure, Customer/Product ML/TF Risk assessment, Implementation of international sanctions, and Correspondent bank and financial institution’s relationship in accordance with applicable laws and regulations.
In accordance with the AML/CFT Law and Regulations, the Bank shall undertake appropriate KYC measures to fully ensure and verify customer’s data, payment slip, agreements, invoices and any other documents prior to providing any banking services.
The information indicated below shall be authenticated by an official source and documents. These include:
- The purpose of a business relationship with the bank;
- Beneficial owner and shareholder structure, asset management information;
- Customers’ nature of business and operations are in line with the purpose of the transaction;
Prior to establishing any financial and business relationship with foreign banks, the Bank shall comply with the requirements of the Correspondent Banking Due Diligence Questionnaire (CBDDQ) and recommendations on correspondent banking relationships issued by Wolfsberg Group, US Patriot Act, and FATCA Regulation.
Wolfsberg CBDDQ:
Please click here to access the Correspondent Banking Due Diligence Questionnaire (CBDDQ) for FIs defined by the “Wolfsberg Group”. (Appendix shall be included in the “click on here” section)
US Patriot Act:
Please click here to access the Global USA Patriot Act certification issued by the U.S. Department of the Treasury. (Appendix shall be included in the “click on here” section)
FATCA:
Transport and Development Bank, akin to every financial institution in the world is obligated to report foreign financial assets and accounts held by US Person and legal entities to the US Internal Revenue Service (IRS) under the Foreign Account Tax Compliance Act (FATCA).
Please click here to access the FATCA W-8BEN-E form completed by the Transport and Development Bank. (Appendix shall be included in the “click on here” section)