Policy of JSC «OTP Bank» on Countering Money Laundering and Terrorism Financing

In accordance with the established Russian and international banking practice and pursuant to the requirements of Federal Law № 115-FZ dated August 7, 2001 «On Countering Legalisation (Laundering) the Proceeds of Crime and the Financing of Terrorism» JSC «OTP Bank» monitors financial operations of customers and implements measures aimed at countering legalisation (laundering) of criminal proceeds and terrorism financing.

JSC «OTP Bank» has developed and approved the Internal Control Regulations of JSC «OTP Bank» for the purposes of countering the legalisation (laundering) of proceeds of crime, the financing of terrorism and the financing of proliferation of weapons of mass destruction.

Activities on countering the legalisation (laundering) of proceeds of crime, the financing of terrorism and the financing of proliferation of weapons of mass destruction are arranged and supervised by the Financial Monitoring Service. A designated officer has been appointed to supervise the implementation of the Internal Control Regulations of JSC «OTP Bank» for the purposes of countering legalisation (laundering) of criminal proceeds and terrorism financing.

JSC «OTP Bank» is committed to maintaining good business reputation and mitigating the risks of the Bank being involved in suspicious schemes of unscrupulous customers. Given this JSC «OTP Bank» applies the KYC («Know Your Customer») Policy.

JSC «OTP Bank» neither establishes nor maintains relations with banks which do not have the permanent corporate bodies in the territories of the states where they are incorporated and banks incorporated in the territories granting preferential tax regime and (or) not requiring the disclosure and provision of information on financial transactions (offshore zones).

Documents of JSC «OTP Bank»

Identification of correspondent banks and counterparties

In accordance with the requirements of Regulation of the Bank of Russia № 499-P dated October 15, 2015 «On identification of customers, representatives of customers, beneficiaries and beneficial owners by credit organisations for the purpose of countering legalisation (laundering) of criminal proceeds and terrorism financing », in order to establish business relations with JSC «OTP Bank» financial institutions are requested to provide information as per form of JSC «OTP Bank»’s Questionnaire designed for credit institutions. The Questionnaire of a credit institution is to be updated at least once in three years for low risk Customers, at least once a year for medium and high risk Customers, and if doubts occur as to the reliability and accuracy of information received earlier, within seven working days following the day when such doubts occurred, or upon any changes of the data contained therein.

  • To receive Questionnaire for a credit institution of JSC "OTP Bank", please send your request at duedil@otpbank.ru

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