Anti Money Laundering (AML) Counter Financing of Terrorism (CFT) Proliferation Financing (PF)
GTBank UK is committed to maintaining the required standards of controls for Anti-Money Laundering, Countering Terrorist Financing financial crime prevention, particularly.
In line with our commitment to combat these threats, GTBank UK has put in place Financial Crime Prevention Policy (FCPP), informed by applicable laws, regulations, regulatory guidance, and international best practice. The purpose of the Financial Crime Prevention Policy is to identify, manage and mitigate the risks associated with Money Laundering, Financing of Terrorism, Proliferation Financing and other financial crime risks.
Systems and controls, including detailed procedures have been put in place, to safeguard the integrity of our operations, protect our customers, and prevent the misuse of our services for criminal purposes.
Our Financial Crime Prevention Policy and related procedures are designed to ensure that all our businesses and staff comply with applicable laws, regulations, and industry guidance for the financial services sector.
Customer Due Diligence Requirements
The Bank has a regulatory requirement to conduct adequate due diligence review and assessment on all customers to prevent the use of the Bank’s products and services for financial purposes.
To conduct the required due diligence review and assessment, the Bank will request for relevant documentation and information from customers and other relevant sources will be conducted at the point of on-boarding and on an on-going basis throughout the duration of the relationship with the Bank.
Proliferation Financing and Trade Due Diligence
Proliferation Financing is the provision of funds or financial services in whole or in part, for the manufacture, acquisition, possession, development, export, transhipment, brokering, transport, transfer, stockpiling or use of chemical, biological, radiological or nuclear (CBRN) weapons and their means of delivery, as well as CBRN-related goods and technology (including dual-use goods and technologies for non-legitimate purposes), in contravention of national laws or, where applicable, international obligations.
Customers and parties to trade transactions and Wire transfers are advised that Government Agencies and Regulatory Authorities impose specific sanctions and embargoes against certain countries, entities, individuals, vessels, seaports, and goods to mitigate the risk of Proliferation Financing and sanction breaches.
GTBank UK will not engage (process, accept, negotiate, or settle documents) in transactions that could breach embargoes or sanctions rules.
Anti-Bribery and Corruption (ABC) Policy Statement
GTBank UK has zero tolerance towards corruption and the giving or receiving of bribes for any purpose and through any means. It is the Bank’s policy to conduct all of its businesses in an honest and ethical manner by acting professionally, fairly and with integrity in all our business dealings and relationships. The we will comply with all laws relevant to countering bribery and corruption in all the jurisdictions/countries where we do business.
GTBank UK Policy prohibits the offering, giving, promising, or receiving of monetary or other inducements, or engaging in any practices that could be perceived as improperly influencing a person’s conduct in their professional or public duties.
Fraud
The Board and Senior Management of GTBank UK takes the risk of fraudulent activity and related illegal acts of dishonesty very seriously and adopts a zero-tolerance stance in relation to any attempts to commit fraud. There are systems, controls, policies, procedures, and training programmes within the bank, which have been designed to:
GTBank UK will co-operate fully with any criminal investigations or prosecutions arising from Law Enforcement Agency or Regulators in relation to fraud.
Sanctions
GTBank UK is committed to complying with all applicable sanction laws and regulations in the jurisdictions/countries in which we do business.
The Bank’s Policy prohibits relationships or transactions involving sanctioned individuals, entities and comprehensively sanctioned countries and territories.
In compliance with our regulatory requirements and our Policy we may reject transactions, freeze/block assets, or refuse to provide services where there are indications of link to sanctioned or segregated parties, or where jurisdiction high sanction risk exists.