AML-CFT Policies

Anti-Money Laundering and Countering the Financing of Terrorism

The banking industry is very vulnerable to being used or exploited as a place for money laundering and terrorism financing, so to prevent this it is necessary to implement a good and effective Anti-Money Laundering and Countering the Financing of Terrorism (AML-CFT) policies.

There are several procedures which have been taken by Bank in performing the policies of anti-money laundering and countering the financing of terrorism, such as:

• Establishing the AML-CFT department which is responsible for monitoring and coordinating the implementation of the Anti-Money Laundering and Countering the Financing of Terrorism Programs in all branches
• Fulfilling report obligations to regulators.
• Carrying out the customer data update program periodically
• Monitoring and analyzing customer transactions on an ongoing basis.
• Utilizing the information technology to support AML-CFT monitoring and reporting.
• Adjusting to the latest developments and regulations regarding the implementation of the AML-CFT program.
• Maintaining the List of Suspected Terrorists and Terrorist Organizations (DTTOT) and the List of Financing the Proliferation of Weapons of Mass Destruction (DPPSPM).
• Constantly improving the quality of human resources in term of understanding and implementating the AML-CFT program.

Information Management System

In implementing AML-CFT policies and principles, information management system is needed. Utilization of information technology helps Bank for providing necessary data, identifying customer profile, monitoring, investigating and analyzing customer transaction effectively.

Human Resources and Training

To improve employees’ awareness and understanding of the importance of money laundering and terrorist financing in prevention of criminal use of the banking system, Bank Mestika constantly conducts training about AML and CFT for employee and bank officer. The training are expected to increase employees’ knowledge in execute the policies of AML and CFT for minimizing the crime.