AML & CFT Division
Objectives of AML & CFT 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 staffs of the bank are aware of their obligations & the need to
remain vigilant in the fight against ML/TF.
Slogan of the Division: 'Compliance is my responsibility; Compliance is my obligation.'
Functions of AML & CFT Division:
1. (a) Policy Matters:
(i) Formulate, monitor, review and enforce the Bank’s ML & TF Risk Management Guidelines, ML & TF Risk Assessment Guidelines, Prevention of Trade Based Money Laundering Guidelines & Customer Acceptance Policy.
ii) Formulate, monitor, review and enforce the Bank’s Know Your Customer (KYC) policy and Identification Procedure for detection of suspicious transaction/account activities.
(iii) Issue AML/CFT related circulars, instructions and circulate BFIU 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 AML/CFT 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 BFIU’s instructions and guidelines.
(ii) Develop and conduct training courses in collaboration with the Bank’s Training Institute to raise the level of awareness of compliance in the Bank.
2. Regular Activities:
(i) Respond queries of BFIU and issue necessary instructions to the branches about Money Laundering and Terrorist Financing.
(ii) Monitor the Bank’s Self Assessment and Independent Testing Procedures for AML/CFT compliance and taking corrective action.
(iii) Extend all out cooperation to BFIU Inspection Team, Internal Audit Team and External Audit Team and other Law Enforcement Agencies as and when required.
(iv)Conduct inspection on branches regarding AML/CFT compliance.
(v) Conducting of CCC meeting quarterly.
3. Regular Compliance:
(i) Ensure timely AML/CFT reporting and compliance to BFIU, including CTR, STR, KYC Update, A/C information & other data required by BFIU, NBR, Customs Authority, ACC etc.
(ii) Half Yearly Compliance Report to the Top Management of the Bank.
(iii) KYC for Corresponding Banking.
1. Mominul Abedin
VP & Head of AML & CFT Division
2. Md. Nazmul Huda Sarker
FAVP, AML & CFT Division
3. Mohammed Raffat Khalid
Senior Executive Officer, AML & CFT Division