ANTI-MONEY LAUNDERING AND COUNTER-TERRORIST FINANCING POLICY AND PRINCIPLES

Transcription

1 ANTI-MONEY LAUNDERING AND COUNTER-TERRORIST FINANCING POLICY AND PRINCIPLES

2 ÍNDICE I. PREAMBLE II. LEGISLATIVE FRAMEWORK Domestic Internacional III. ANTI-MONEY LAUNDERING AND COUNTER-TERRORIST FINANCING (DEFINITIONS) Money Laundering Terrorist Financing IV. ANTI-MONEY LAUNDERING AND COUNTER-TERRORIST FINANCING - BPI S PRINCIPLES Identification and Due Diligence Monitoring Restrictive Measures Suspicious transaction reporting Training Record-Keeping Auditing V. INTERNAL ORGANISATION 01/04

3 I. PREAMBLE Banco BPI, S.A. is committed to implement a highly demanding programme to tackle money laundering and terrorist financing so as to prevent the involvement of the BPI Group in illicit transactions and contribute to fight against organised and economic and financial crime. The following Anti-Money Laundering and Counter-Terrorist Financing programme is adopted by Banco BPI, S.A., Banco Português de Investimento, S.A., BPI Gestão de Activos - Sociedade Gestora de Fundos de Investimento Mobiliário, S.A. and BPI Pensões e Vida S.A. (BPI) and aims at identifying, mitigating and managing their risk. Branches and subsidiaries in third countries, controlled by Banco BPI, S.A., implement policies that are equivalent to those described below, assuring also that transactions are executed in accordance with the laws of each jurisdiction, to which priority is given in case of conflict. This programme falls under internal policies and procedures on internal control, i.e., BPI s compliance, risk assessment and management, and auditing. II. LEGISLATIVE FRAMEWORK Portugal is a member country of the European Union and of the Financial Action Task Force (FATF/GAFI) and cooperates with the Egmont Group of Financial Intelligence Units. This policy reflects BPI s commitment to use its best efforts in applying the following set of laws, regulations and recommendations: Law 36/1994, of 29 September (Measures to Combat Corruption and Financial Crime); Law 5/2002, of 11 January (Measures to Combat Organised Crime); Law 52/2003, of 22 August (Combating Terrorism); Law 25/2008, of 5 June (Measures to Combat the Laundering of Benefits of Illicit Origin and Terrorist Financing); Notice no. 5/2013 of Banco de Portugal; Regulation no. 2/2007 (updated by Regulation no. 3/2008) of Comissão de Mercado de Valores Mobiliários; Regulatory Rule no. 10/2005 of Autoridade de Supervisão de Seguros e Fundos de Pensões. Internacional Regulation (CE) 1889/2005 of the European Parliament and of the Council, of 26 October (Control of cash entering and leaving the Community); Regulation (CE) 2015/847 of the European Parliament and of the Council, of 20 May (Information on the payer accompanying transfers of funds); The 40 FATF Recommendations on Combating Money Laundering and the Financing of Terrorism and Proliferation, issued in Domestic Penal Code, Article 368-A (Money Laundering); 02/04

4 III. ANTI-MONEY LAUNDERING AND COUNTER- TERRORIST FINANCING (DEFINITIONS) Money Laundering Money Laundering is the process whereby criminals attempt to conceal the illegal origin of property and proceeds (benefits) illicitly obtained, transforming them into legitimate reusable money, by disguising the origin and/or true ownership of the funds. Terrorist Financing Terrorist Financing means the provision or collection of funds, by any means, directly or indirectly, with the intention that they should be used or in the knowledge that they are to be used, in full or in part, to carry out any act intended to cause death or serious bodily injury to a civilian or to any person not taking any active part in the hostilities in the event of an armed conflict, when the purpose of such act, by its nature or context, is to intimidate a population, or compel a government or an international organization to do or to abstain from doing any act. IV. ANTI-MONEY LAUNDERING AND COUNTER- TERRORIST FINANCING - BPI S PRINCIPLES In performing its activities, and to comply with applicable legal requirements, BPI applies the following principles: The establishment of direct or indirect relations with shell banks is prohibited. Whenever BPI is aware of any direct or indirect relation with a shell bank, the relation will be terminated. BPI reviews the identifying information of its Customers on a regular basis, as well as the purpose and nature of any relations established with them. Any refusal to provide BPI with up-to-date identity information may result in termination of their business relationship. Monitoring All transactions on BPI Customer accounts are monitored by BPI Employees, as well as by a specific software. BPI has procedures in place to detect and apply enhanced due diligence measures to politically exposed persons (PEPs), their family members and close associated of such PEPs, as well as holders of public offices. The enhanced diligence is applied on banking relations established with institutions in third countries. The payable-through accounts service ( contas de passagem ), where funds received are for a beneficial owner usually in another bank) is not provided by BPI. Restrictive Measures BPI has implemented procedures which ensure that applicable restrictive measures are complied with and that sanctioned individuals and entities listed in the UN, EU and OFAC (USA) sanctions lists are identified. Identification and Due Diligence BPI s policy on Customer identification and acceptance provides that in situations such as incomplete information (including the identification of the beneficial owner) or the purpose and intended nature of the business relationship are not clear, the establishment of a relationship may be refused. The opening of anonymous or numbered accounts is not allowed. 03/04

5 Suspicious transaction reporting Any fact that could raise a suspicion of money laundering or terrorist financing must be reported to the relevant Portuguese authorities. Training BPI provides regular and occasional training on anti-money laundering and terrorist financing to all Employees, whether immediately after they are hired or later on, using a variety of channels (e-learning, classroom training, etc.). Record-Keeping BPI keeps all relevant documents and records in the context of Anti-Money Laundering and Counter-Terrorist Financing during the terms legally established in its regulations. V. INTERNAL ORGANISATION The Executive Committee of Banco BPI s Board of Directors approves the Policy on Anti-Money Laundering and Counter-Terrorist Financing and, subsequently, assesses its effectiveness on a regular basis. Banco BPI s Compliance Department coordinates and supervises the implementation of this policy, monitoring its Customers and accounts, checking for any alerts, acting on information requests from official entities, keeping record of all documents, advising its Employees and providing training. This Department keeps the Anti-Money Laundering and Counter-Terrorist Financing model up-to-date, including its software and the risk matrix, submitting proposed changes to practices, technology and procedures to the Executive Committee. Auditing The Anti-Money Laundering and Counter-Terrorist Financing programme is subject to regular auditing. 04/04