Emirates Citizen Bank United Arab Emirates

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Compliance

Emirates Citizen Bank ( United Arab Emirates ) Ltd has an independent compliance function to ensure that the bank complies with all relevant laws, regulations, rules, internal policies and procedures applicable to its banking activities.

Know Your Customer (KYC)

The basis of all procedures for the prevention of money laundering and terrorist financing is having sufficient customer information to enable the bank to know exactly who they are conducting business with.

Screening of Customers

Emirates Citizen Bank ( United Arab Emirates ) Ltd utilizes various software and databases to screen prospective and existing customers, beneficial owners, shareholders, directors, authorized signatories, etc.

Transaction Monitoring

The bank conducts ongoing transaction monitoring in order to identify potential suspicious activity. If activity of a suspicious nature is identified, the appropriate authorities are alerted in a number of ways including the filing of a Suspicious Activity Report (SAR).

Training and Education

Ongoing training with regard to anti-money laundering and countering the financing of terrorism issues, compliance responsibilities, Anti-Bribery and Corruption (ABC), etc is provided to appropriate personnel.

Internal, External and Compliance Audits

Independent testing by an externally appointed auditor and other internal testing is conducted periodically to ensure that our bank’s Compliance and Anti-Money Laundering Compliance Programs are functioning as required in order to protect our bank and its customers.

Modern Slavery

Emirates Citizen Bank ( United Arab Emirates ) Ltd has no tolerance to slavery, servitude, forced labour and human trafficking (Modern Slavery) and seeks to avoid partnering with businesses that do not embrace the principles and aims of the United Arab Emirates Modern Slavery Act 2015.

USA Patriot Act

Emirates Citizen Bank ( United Arab Emirates ) Ltd certifies compliance with the USA Patriot Act as well as the USA Foreign Account Tax Compliance Act (FATCA).

Common Reporting Standard

The Common Reporting Standard (CRS) has been initiated by the Organization for Economic Cooperation and Development (OECD) aiming at improving international tax compliance and preventing tax evasion, through the automatic exchange of information between the countries that implement CRS.

Emirates Citizen Bank ( United Arab Emirates ) Ltd is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. .

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