Anti-Money Laundering Policy
SEB Bank implements the Money Laundering and Terrorism Financing Prevention Policy in accordance with acts of law of the Republic of Lithuania, local and international legal acts.
The Prevention Department is responsible for development of the above-mentioned Policy and implementation hereof at the Bank. Other tasks of the Department include: familiarisation of employees with the Policy and joint participation in implementation of the established prevention measures. Goals of the Bank Money Laundering and Terrorism Financing Prevention Policy, its implementation procedures and measures are regulated in the special general documents of the Bank and SEB Group, i.e., SEB Instruction Know Your Customer (KYC), Instruction for procedures against Money Laundering and Financing of Terorism for the SEB Group, Anti-Money Laundering and Anti-Terrorist Financing Requirements and Identification Requirements.
The main money laundering and terrorism financing prevention procedures are as follows:
- Know Your Customer procedures;
- customer identification;
- monitoring of the financial transactions performed by customers;
- identification of suspicious transactions and termination hereof (special systems introduced at the Bank enable to efficiently implement the procedure);
- keeping of information about transactions performed by customers and register handling;
- providing timely information to the Bank staff and training;
- internal control.
SEB Bank operates observing rigid norms of ethics and moral and cooperates with such customers whose nature of funds and assets is declared and legitimacy hereof causes no concern. The Bank is also engaged in the prevention of unintentional and indirect criminal acts. For this purpose, the Bank proactively cooperates with the Financial Crime Investigation Agency under the Ministry of Interior and other legal enforcement institutions.
Compliance of the Bank prevention procedures with the acts of law of the Republic of Lithuania is inspected by the Bank of Lithuania and external auditors.