AML policy
Ūkio bankas carries day-to-day operations in strict compliance with the laws of the Republic of Lithuania and international legislation on the prevention of money laundering and terrorism financing. Each year the Bank of Lithuania and independent auditors inspect whether regulations and procedures implemented in Ūkio bankas comply with the requirements of the AML legislation.
Ūkio bankas AML Department establishes the anti-money laundering and terrorist financing prevention policy, communicates the policy to the employees and takes part in the implementation of developed measures.
Ūkio bankas accepts only those clients whose source of wealth and funds can be reasonably established to be legitimate. We do not open anonymous accounts, accounts with changing names and do not cooperate with shell banks.
Ūkio bankas anti-money laundering and terrorist financing prevention measures cover the following issues:
- client identification and due diligence;
- Know-your-customer principle;
- Keeping the Register of the clients’ monetary transactions;
- Determining client risk;
- Monitoring of clients’ monetary operations;
- Identification of suspicious transactions;
- Employee training;
- Audit and internal control.
