AML CTF Questionnaire for Banks & NBFIs
This questionnaire is required to be filled out by any/all of the following:
- Non-Banking Financial Institutions
- Correspondent Banks
- Currency Exchange Companies
- Money Transfer Operators
- Money Services Business
Institution Details | Your Reply |
Name of Bank | |
Registered Name | |
Registered Address | |
Mailing / Street Address | |
Web Address | |
Jurisdiction under which incorporated (Please provide a copy of incorporation certificate) | |
Banking license #
(Please provide copy of license) | |
Number of Branches (Local/Foreign) | |
Name of External Auditors | |
Name of the Central Bank/regulatory body | |
Main banking activities | |
Name of Members of the Board of Directors | |
● Does your institution have a “Physical Presence”? ● Your institution is an affiliate of depository institutions, credit union, or a foreign bank that maintains a physical presence at the place where it employs one or more persons on a full-time basis & maintains operating records related to itsbanking activities? | |
The purpose of the account (If maintained) | |
Management / Ownership Structure | |
Are share publicly held or privately owned | |
Is it traded on any Stock Exchange? | |
Full details of any natural or legal persons, partnership or trust holding 25% or more of the voting rights | |
Anti-Money Laundering Legislation, Policies & Procedures | Please complete the following questions by indicating Yes/No and comments thereon where appropriate: |
Is money laundering/terrorism Financing considered in your country as a crime? | |
Has your country established laws/regulations concerning AML/CTF/KYC | |
Does your country’s regulatory body (Central Bank) require all financial institutions to have anti-money laundering (AML) & Know Your Customer (KYC) procedures? | |
Is your institution subject to such laws/regulations? | |
Has your institution established a conformity program that contains AML/CTF/KYC policies and procedures, according to internal & international laws, rules, and standards? (Please provide a copy of these documents issued by your Bank). | |
In case your institution does not have such regulations, are they planned to be introduced? Please indicate the estimated date of its implementation | |
Has your bank developed an Internal Audit function in order to test the system for prevention of money laundering and terrorism financing? | |
Are the AML/CTF/KYC policies and procedures applicable to your home entities also applied to your foreign branches? | |
Is the implementation of AML/CTF/KYC policies and procedures monitored on a permanent basis? | |
Has your institution established an employee training program for recognizing the transactions related to AML and identifying the measures that should be taken? | |
Does your institution have a policy of protecting employees who report any suspicious transactions? | |
Condition of the bank regulation and supervision in the correspondent’s country. | |
Relationship with only those banks which have effective customer acceptance and KYC policies and are effectively supervised by the relevant authorities. | |
AML / KYC Policies & Procedures | |
Do your AML/CTF/KYC policies and procedures require: ● Recognizing the true identity of customers and checking their legitimacy before transacting any business with them? ● Identifying any third party that makes use of correspondent banking services? ● Monitoring client activity to detect suspicious activity and due diligence? ● Reporting suspicious activities and transactions to the appropriate AML/CTF/KYC authorities? ● Keeping all the records related to customer identification and their transactions? For how long? | |
Does your AML/CTF/KYC policies and procedures allow to: ● Open or maintain anonymous accounts or numbered accounts? ● Conduct business with the banks having no Physical presence in any country i.e SHELL BANKS ● Maintain currentaccounts for SHELL BANKS? | |
Has your institution been subject to any investigation, indictment, conviction or civil enforcement action related to money laundering and terrorism financing? If so, please provide details. | |
Does your institution comply with FATF recommendations? | |
Does your institution provide services to offshore Banks, Internet Banks type institutions or banks located in high-risk areas, as per FATF recommendations? | |
Does your bank allow direct use of the correspondent account by third parties to transact business on their behalf (i.e. payable through accounts)? | |
Are you a downstream correspondent clearer? (resp. if you are a downstream clearer, kindly supply a list of your relevant counterparties) | |
Transaction Monitoring | |
Does your institution have monitoring programs for identifying the transactions (SWIFT, telegraphic transfers) related to persons / entities suspected of ML/FT, as mentioned in the official lists (e.g. OFAC, UN, EU, or any local authority?) | |
Has your institution implemented any software to assist in the monitoring of transactions? | |
CONTACT DETAILS: (Please provide details & title regarding who completed this questionnaire | |
Has your institution appointed a Compliance Officer for AML/CTF/KYC | |
If so, please give the name and title of the Compliance Officer in your institution, his/her email, address, Phone number, Fax number for future references | |
Authorized Signature: | |
Name | |
Title | |
Phone:
Fax: Email: Mobile: Alternate Phone: |
You can find more resources pertaining to AML / CTF Questionnaire on the FAFT-GAFI Website.
Contact us!
[convertkit form=3530663]
—
This page was last updated on September 14, 2022.
–