AML Framework

AML Framework

Our AML Policy is built on the following principles:

• Advanced Risk Assessment

Identifying customer risk based on AML/CTF risk factors, applying enhanced controls where needed.

• Automated Monitoring & Screening

Automated transaction monitoring and name screening filters to detect suspicious activities.

• Strict Sanctions Policy

Prohibiting any engagement with sanctioned individuals, entities, or high-risk jurisdictions in line with international regulations.

• Dedicated AML/CTF analysts

AML/CTF analysts investigating alerts triggered by automated compliance systems closely to prevent illicit transactions.

• Regulatory Reporting

Dedicated Money Laundering Reporting Officer (MLRO) to ensure timely reporting of suspicious activities to the Finance Intelligence Unit (FIU).

• Employee AML Training & Awareness Program

Training the staff through seminars, e-learning, and newsletters to ensure the staff can detect and prevent financial crimes.

• Enhanced Due Diligence (EDD)

Ensuring thorough scrutiny of customers and transitions, appliable on higher-risk clients, industries, and geographies.

• Independent Audit & Oversight

Internal audit teams conducting periodic evaluations to assess the effectiveness of NBC’s AML Compliance Programme.