The Bank, through its Compliance Group, remains dedicated in continuously strengthening its money laundering and terrorist financing prevention through regulatory compliance and adopting best practices in the industry. Among its initiatives are:

• Improved Compliance and AML awareness by:
  • Continuous conduct of orientation of CLOs, post-implementation training of  AML system and focus group discussions on AML and the new circular/issuances;
  • Issuance of AML bulletins and advisories;
  • Provide consulting/advisory to Line Units on business program/project prior to implementation 
• Enhanced the monitoring and review processes through:
  • Implementation of the AML system and its upgrade and improved CTR/STR/ Alerts review processes;
  • Establishment of a trigger mechanism to alert/prompt the concerned units on the timely submission of regulatory reports;
  • Creation of the Compliance Regulatory Matrix, timely cascading and uploading of regulatory issuances in the Compliance Desk Facility;
• Strengthened compliance mechanism through the designation of a Compliance Liaison Officer (CLO) per Unit/Branch tasked to periodically conduct self-assessment to determine their Unit’s/Branch’s state of compliance with relevant banking rules and regulations and promptly address compliance issues and concerns.