Objectives of AML Division of the Bank:
- 1. To establish compliance culture in respect of Anti money laundering(AML) and Combating Financing Terrorism(CFT) in the bank.
- 2. To ensure that the products & services of the Bank are not used to launder the proceeds of crime & all of the staff of the bank is aware of their obligations & the need to remain vigilant in the fight against ML/TF.
Slogan of the Division : â€œCompliance is my responsibility ; Compliance is my obligation.â€�
Functions of Anti-Money Laundering Division:
1. (a) Policy matters:
(i) Formulate, monitor, review and enforce the Bankâ€™s Anti-Money Laundering/Combating Financing Terrorism Policy & ML/TF Risk Assessment Guideline.
ii) Formulate, monitor, review and enforce the Bankâ€™s Know Your Customer (KYC) policy and Identification Procedure for detection of suspicious transaction/account activities.
(iii) Issue Anti-Money Laundering circulars, instructions and circulate Bangladesh Bank circulars and policy guidelines to the branches of the Bank.
(iv) Place memorandum before the Board of Directors at least twice a year regarding the status of the Anti-Money Laundering activities undertaken by the Bank.
(v) Preparation of AML/CFT Action plan.
(b) Training & awareness:
(i) Creation of awareness among the officers/employees about the internal AML/CFT policies, procedures and programs and Bangladesh Bankâ€™s instructions and guidelines.
(ii) Develop and conduct training courses in collaboration with the Bankâ€™s Training Institute to raise the level of awareness of compliance in the Bank.
2. Regular activities:
(i) Respond queries of and issue necessary instructions to the branches about money laundering and terrorist financing.
(ii) Monitor the Bankâ€™s Self Assessment and Independent Testing Procedures for AML compliance and taking corrective action.
(iii) Extend all out cooperation to Bangladesh Bank Inspection Team, Internal Audit Team and External Audit Team and other law enforcement Agencies as and when required.
(iv) Conduct inspection on branches regarding anti money laundering compliance.
(v) Conducting of CCU meeting bi-monthly
3. Regular Compliance:
(i) Ensure timely anti-money laundering reporting and compliance to Bangladesh Bank, including CTR, STR, KYC Update, A/C information & other data required by Bangladesh Bank, NBR, Customs Authority etc.
(ii) Monthly Compliance Report to the top management of the bank.
(iii) KYC for corresponding banking.
1. Mominul Abedin
VP & Head of AML
2. Md. Nazmul Huda Sarker
Senior executive officer, AML
AML & CFT Questionnaire:
3. Mohammed Raffat Khalid
Executive Officer, AML