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Anti Money Laundering Division | BCEL

Anti Money Laundering Division


         In the context of increasingly open for international integration, BCEL highly values ​​and recognizes the importance of cooperating and engaging with strategic partners both domestic and international, strengthening and implementing risk management on the basis of compliance with relevant regulations and laws. In this regard, participation and improvement of internal management mechanisms related to Anti-Money Laundering and Combating the Financing of Terrorist (AML/CFT) and participating as a financial institution implemented under the Foreign Account Tax Compliance Act (FATCA) is one of our priorities, included in long-term development strategy of the organization.

         To carry out the works of AML/CFT, BCEL are determined to create a "Complete System" by having Anti-Money Laundering Division act as chief of staff to adopt strategies and policies on AML/CFT and FATCA in order to get practical and efficient results of the implementation, appointing personnel responsible for AML/CFT implementation at branches, conducting AML/CFT training courses for  our staffs on regular basis, supporting staffs in charge of the work of AML/CFT to participate in both short-term and long-term training courses domestically and internationally in order to enrich knowledge and enhance the professionalism of AML/CFT. Currently, BCEL has some specialists maintaining competency and knowledge in AML field and gain certification on Certified Anti-Money Laundering Specialist and certification on Certified Advance AML Audit Specialist from the Association of Certified Anti-Money Laundering Specialists (ACAMS) which is the globally recognized organization in AML field.

         BCEL has created mechanisms, policies and procedures related to the implementation of AML/CFT with consistent with domestic laws and regulations as well as international standard which including building plans, risk assessment and management, KYC and CDD implementation, collecting customer’s information and transaction detail, making and maintaining relationship with PEP customers and correspondent banks, data storage, reporting on suspicious transactions or activities and the use of information technology to support in tracking customers continuously. Additionally, in order to comply with the Law of Economic Sanctions and other laws and standards related to AML/CFT of both domestic and international authorities, BCEL and its affiliates will not allow any business affiliation or services to individuals and entities that are on the sanction lists of international anti-money laundering commissions.