Transbank developed our policy on anti-money laundering and counter-terrorism financing in line with Financial Action Task Force recommendations, Basel Committee on Banking Supervision recommendations on best practice compliance function in banks, the law of Mongolia on anti-money laundering and counter-terrorism financing, and Bank of Mongolia recommendations.
The Whistle blower line is being used to report on activities that break or will likely break the internal rules and regulations and affect the interest of bank, bank’s employees and customers negatively. Our bank has an open, transparent and safe working environment where employees feel able to speak up backed by having clear policies and procedures for dealing with whistleblowing.
Transbank uses Wolfsberg Group internal bank program questionnaire on combating money laundering to inform the correspondent banks about our bank program on combating money laundering and to conduct due diligence on our prospective correspondent banks. The Wolfsberg Group is an association of 13 global banks which aims to develop frameworks and guidance for the management of financial crime risks, particularly with respect to Know Your Customer, Anti-Money Laundering and Counter Terrorist Financing policies. Please press on the following link to see our bank’s completed Wolfsberg Group Anti-Money Laundering Questionnaire.
Transbank is registered in the Foreign Account Tax Compliance Act (FATCA) registration system and received its global intermediary identification number (GIIN: NNXPYD.99999.SL.496). The Foreign Account Tax Compliance Act (FATCA) generally requires that foreign financial institutions and certain other non-financial foreign entities report on the foreign assets held by their U.S. account holders or be subject to withholding on payments. Please press on the link below to see Transbank’s Certificate of Status of Beneficial Owner for United States Tax Withholding and Reporting.