PFTD/LPD

Combating the financing of terrorism/anti-money laundering

The “Dos-Credobank” Open Joint Stock Company according to the provisions of the Law of the Kyrgyz Republic “On combating the financing of terrorism/anti-money laundering” dated July 8, 2019 No. 83 and the regulatory acts of the National Bank of the Kyrgyz Republic for the purpose of exercising internal control in the field of combating the financing of terrorism/anti-money laundering, the “Dos-Credobank” OJSC has developed internal control policies and rules for the purpose of combating the financing of terrorism/anti-money laundering.

For the purpose of preventing the possibility of using the services of the “Dos-Credobank” OJSC for terrorism and money laundering, the Bank has organized and operates an internal control system according to the requirements of:

  • The Law of the Kyrgyz Republic “On combating the financing of terrorism/anti-money laundering” dated 08.07.2019 No. 83;
  • The Law of the Kyrgyz Republic “On the National Bank of the Kyrgyz Republic, banks and banking” dated 16.12.2016 No. 207;
  • The Regulations of the National Bank of the Kyrgyz Republic “On minimum requirements for organizing the internal control in commercial banks for the purpose of combating the financing of terrorism/anti-money laundering” dated 14.08.2019 No. 2019-П-12\42-1- (RLA);
  • The Decisions of the Management Board of the National Bank of the Kyrgyz Republic No. 13/2 dated April 16, 2003 “On establishing requirements for identifying entities and the list of offshore zones”,
  • The Regulations “On general requirements for the internal control program for combating the financing of terrorism/anti-money laundering” approved by the resolution of the Government of the Kyrgyz Republic dated 25.12.2018 No. 606;
  • The Instructions for working with bank accounts, deposit accounts (deposits), approved by the resolution of the Management Board of the National Bank of the Kyrgyz Republic dated 31.10.2012 No. 41/12;
  • The Regulations “On the Procedure for submission of information and documents to the financial intelligence authority of the Kyrgyz Republic” approved by the resolution of the Government of the Kyrgyz Republic dated 25.12.2018 No. 606;
  • The Regulations “On the procedure for customer due diligence” approved by the resolution of the Government of the Kyrgyz Republic dated 25.12.2018 No. 606;
  • The Regulations “On the procedure for suspending an operation (transaction), freezing and unfreezing an operation (transaction) and (or) funds, providing access to the frozen funds and managing frozen funds” approved by the resolution of the Government of the Kyrgyz Republic dated 25.12.2018 No. 606;
  • The Regulations “On the lists of individuals and legal entities, groups and organizations in respect of which there is information about their involvement in terrorist and extremist activities, the proliferation of weapons of mass destruction and money laundering” approved by the resolution of the Government of the Kyrgyz Republic dated 25.12.2018 No. 606;
  • The FATF Recommendations (International Standards for Combating Money Laundering, the Financing of Terrorism and the Financing of the Proliferation of Weapons of Mass Destruction), February 2012;
  • And also taking into account the recommendations of the Basel Committee on Banking Supervision on the organization of the compliance function in banks.

The "Dos Credobank" OJSC has appointed an officer responsible for the organization of internal control for the purpose of combatting the financing of terrorism and anti-money laundering, and the accomplishment of programs for their implementation, and the Bank has also developed internal regulatory documents:

 

1. The policy of organizing internal control at the “Dos-Credobank” OJSC for the purpose of combatting the financing of terrorism and anti-money laundering.

2. The internal control rules at the “Dos-Credobank” OJSC for the purpose of combatting the financing of terrorism and anti-money laundering, which include the following procedures: 1. Customer and beneficial owner identification and verification;

2. Evaluation of the risk of making operations (transactions) related to terrorist activities and money laundering by the customer;

3. Detection of operations (transactions) in the customer’s activities that have signs of suspicious operations (transactions), as well as other operations (transactions) directly related to the financing of terrorism and money laundering;

4. Verification of information about the customer or about the customer’s operation (transaction), about the beneficial owner to confirm the validity of suspicions of the financing of terrorism and money laundering:

5. Documenting the information specified in article 21 of the Law of the Kyrgyz Republic “On CFT/AML";

6. Storage of information and documents obtained as a result of the implementation of the internal control rules;

7. Training and educating personnel in the field of combatting the financing of terrorism and money laundering;

8. Bank procedure for refusal from acceptance for servicing and fulfillment of the customer’s orders on the implementation of an operation (transaction);

9. The procedure for suspending an operation (transaction), freezing and unfreezing an operation (transaction) and (or) funds, providing access to frozen funds and managing frozen funds;

10. Organizing a system for the implementation of internal control rules;

11. The policy of the “Dos-Credobank” OJSC “Know Your Customer”;

12. The procedure for the submission by the “Dos-Credobank” OJSC to the authorized body of information stipulated by the Law of the Kyrgyz Republic on CFT/AML;

13. The training program for employees of the “Dos-Credobank” OJSC on the CFT/AML issues.

The "Dos Credobank" OJSC:

  • Does not open and does not service anonymous bank accounts (deposits), bearer bank accounts (deposits), without identifying customers according to the internal Regulation and other regulatory legal acts of the Kyrgyz Republic.
  • Does not establish correspondent relationships with banks that are registered in offshore zones.
  • Does not establish correspondent relationships with shell banks.