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As a credit institution authorized to intermediate capital market operations, Bank Leumi Romania is subject to the regulations of the Romanian National Securities Commission (CNVM). As regards the prevention and the control of money laundering, in order to adjust the Law 656/2002 by the settlements regarding the capital market, CNVM has prepared the Regulations no. 5/2008 that establish the measures to prevent and control money laundering and terrorism financing through capital market.
These Regulations provide for the compliance with the legal provisions in force regarding the identification, the verification and the registration of the clients and of the transactions, the reporting of suspicious transactions and of cash transactions, for implementing a program to comply with these requirements as well as for specialized training.
Preventing money laundering and terrorism financing as specified in the legislation in force includes the preparation, the creation and the implementation of proper policies, procedures and mechanisms for the “Know Your Customer” field, for reporting, for records keeping, for internal control, for the risks assessment and management, for the compliance and communication management , in order to prevent and hinder the involvement of the bank in suspicious operations of money laundering and terrorism financing.
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