In keeping with this regulation, AUB maintain appropriate customer screening, monitoring and related due diligence procedures that are designed to prevent the AUB from doing business with entities which engage in Money Laundering, Terrorist Financing practices or illegal activity. In relation to incorporated entities, these processes extend to the individuals that control such corporations. Officers and relevant staff of AUB are made aware of policies, procedures and processes and are mandated to adhere to them. Written records documenting AML & CTF with such procedures are maintained. We also require that all correspondent banks with which the AUB does business maintain appropriate procedures.
AUB policy requires that all relevant staff of AUB who deal with customers and / or who are managerially responsible for handling customer relationships, must undergo annual training on Anti-Money Laundering, Counter Terrorist Financing and Know Your Customer (KYC) regulation and procedures.
AUB also requires all Respondent banks with which AUB does business, to have appropriate money laundering and Terrorist Financing prevention mechanisms in place. The AUB does not maintain accounts with anonymous principals and does not conduct business with any Shell bank which does not maintain a physical presence in jurisdiction in which it is licensed and which is not a regulated affiliate.
Due Diligence Report & AML & CTF Questionnaire