Founding Principle Documents,
Traditions, Customs, Laws & Regulations

Anti-Money Laundering and Counter -Terrorism Financing Policy

 

Sovereign Global Bank of Aotearoa (SGBA) will work to prevent money laundering and the financing of terrorism, generally known as “Money Laundering", by implementing the following policies.

 

Basic Principle

 

SGBA recognizes the importance of preventing money laundering and therefore will comply with international and domestic laws and establish appropriate policies.

 

Administration

 

SGBA will stipulate roles and internal controls within the bank.

 

Customer Identification

•    SGBA will implement and maintain appropriate measures to conduct customer

      identification.

•    Management will train employees in matters related to the prevention of money

      laundering so that employees can implement immediate and  appropriate measures

      for customer identification.

 

Confirmation of measures for freezing assets

 

•    SGBA will implement and maintain measures to confirm assets which are frozen in

      relation to terrorist activities.

•    SGBA will train employees in matters related to the prevention of money

      laundering so that employees can implement immediate and appropriate measures

      for confirming assets frozen in relation to terrorist activities.

 

Reporting of Suspicious Transactions

 

•    SGBA will implement and maintain measures for handling suspicious transactions.

•    SGBA will immediately report suspicious transactions to relevant international

      authorities.

•    SGBA will implement immediate and appropriate measures for handling

      suspicious transactions.

•    SGBA will train employees in matters related to the prevention of money

      laundering so that employees can implement immediate and appropriate measures

      for handling suspicious transactions.

 

Compliance Checks

 

SGBA will check the adequacy of the Anti-Money Laundering Policy and compliance with the Policy, and Administration to improve internal controls based on the outcomes of these checks.