Anti-money Laundering and Fight against Terrorism
We became involved in Anti-money Laundering and Fight against Financing Terrorism to face threat it represents to the society as a whole. Similarly, we do not wish to support such negative practices by allowing financial flows through our services. Hence, we designed strict internal rules to prevent anti-money laundering, fight against financing terrorism, and detect unusual business transactions. In order to make certain they are implemented in daily operations, our staff is trained regularly.
VUB´s Anti-money Laundering and Fight against Financing Terrorism program primarily stems from the following:
- The Slovak law,
- The European law,
- The international FATF recommendations, the recommendations of Basil Committee for Banking Supervision, and the Wolfsberg AML Principles.
Knowing our clients well forms a significant part of effective prevention. Having sufficient information about the substance of clients´ economic activities and background, we can reliably distinguish between usual and unusual business transactions. To be sure, we guarantee our clients maximum discretion of disposal with data collected. We consider Know Your Customer principle the expression of mutual transparency in bank – client relationship. Hence, our clients may rest assured we do our best to identify and eliminate any potential danger.
Declaration of VÚB for purposes of maintaining correspondence accounts in USA pursuant to the Patriot Act Certification.