Respecting all banking and financial regulations, legal and regulatory provisions, professional and ethical standards, the Group’s procedures, protecting client interests, and the Group’s reputation.
American Bank of Investments, part of NCH Capital, is subject to Albanian legislation and regulations on the prevention of money laundering and terrorist financing, and on the enforcement of embargos.
Knowledge of the Customer is at the Heart of the Bank’s Concern
The activity of the Bank is based on a good understanding of the customer in order to determine the origin of funds by checking the consistency of banking and financial transactions with the customer’s business and financial situation with the help of KYC (Know Your Client).
Fight against Money Laundering and Terrorist Financing, and Enforcement of Embargos
American Bank of Investments has established policies requiring implementation of an anti-money laundering and terrorist financing system. These mainly include the following:
- Know your customer rules to identify and obtain information about customers or their beneficial owners.
- Rules for identifying, documenting and analyzing transactions made by customers in order to detect any sums or transactions that may constitute money laundering or terrorist financing activities.
- Rules for reporting suspicious transactions to the Albanian Financial Intelligence Unit (FIU).
- Rules for archiving, training and internal control.
American Bank of Investments is subject to supervision by the Central Bank of Albania, which, as the regulator, ensures that it complies with the regulations in force.
Working through its Compliance function, American Bank of Investments has drawn up rules designed to guarantee customer protection. These rules cover advertising and the validation of the products sold to customers.
Customer protection must be effective at every stage in the relationship between the Bank and its customers, from the provision of pre-contractual information, the subsequent giving of advice, and during the life and final termination of the contract.
A regular monitoring of complaints using a set of quality indicators (processing times, etc.) is carried out by the Compliance function.
To read FATCA material and Wolfsberg Group Questionnaire please refer to the documentation below.