Know Your Customer – Belinvestbank
At present, financial organizations all over the world take measures to limit their involvement into the criminal activity by means of using various financial instruments.
Observing the international requirements for measures on combating money laundering and financing of terrorism, the Republic of Belarus regularly improves its legal framework regulating the performance of these measures by banks.
In particular, Rules of internal control were elaborated at Belinvestbank, JSC with the purpose to prevent and reveal financial transactions connected with legalization of criminal income and financing terrorism. These Rules are approved by the decision of the Board of Belinvestbank, JSC dated April 16, 2015 (hereinafter - Rules of internal control).
Rules of internal control are elaborated with the purpose of creating of an internal control system on combating money laundering and financing of terrorism, and stipulate development of an internal procedure for the implementation of practice and procedures ensuring strict observance of norms of the law and preventing intentional or unintentional involvement of the bank in criminal financial transactions and financing of terrorism.
Rules of internal control establish:
- procedure of identification of persons conducting financial transactions and establishment of beneficiary owners of bank’s customers;
-procedure of detecting financial transactions subject to special control;
-criteria of detection and signs of suspicious financial transactions;
-procedure of filling out, registration, transfer, account and storage of special forms;
-procedure of temporary suspension and renewal of individual financial transactions;
-requirements to the qualification and training of corresponding officials and other bank employees;
- procedure of storage of information of ensuring confidentiality;
-procedure of freezing of funds and blocking financial transactions of client involved to terrorist activities.
The bank neither opens anonymous accounts nor cooperates with banks registered within territories with a preferential tax environment (or) not disclosing and providing information when conducting financial transactions; the bank neither cooperates with financial organizations which are registered and located within territories which do meet FATF requirements in the field of combating legalization (laundering) of criminal proceeds; nor cooperates with shell banks.
There is a financial monitoring service within Belinvestbank, JSC. Its employees deal with development of Rules of internal control.
Additional information on implementation of measures to counteract legalization (laundering) of criminal proceeds by the bank, as well as financing of terrorism is available from employees of the Financial Monitoring Department of Belinvestbank, JSC:
Tel. (375 17) 229-14-54
AML Questionnaire of Belinvestbank JSC
Wolfsberg Group AML Questionnaire