Embedding Good Practices

Embedding Good Practices

Anti-Money Laundering and Counter Financing Terrorism Policy

We are committed to conducting business professionally and in compliance with all applicable laws and regulations while upholding high ethical standards. Our comprehensive and robust governance framework through Group-wide policies and guidelines mitigates financial crime risks, particularly anti-money laundering, financing of terrorism and sanctions.

The Group Anti-Money Laundering and Counter Financing of Terrorism (“AML/CFT”) Policy (“Group AML/CFT Policy”) sets out high standards towards building a stronger and more robust AML/CFT compliance regime within the Group, facilitates consistency in managing the AML/CFT compliance risk across the Group and sets out the Group’s policy statements in respect of the general principles and the key measures to which the Group adheres. The Group AML/CFT Policy also outlines the roles and responsibilities and establishes clear accountabilities of the Board of Directors, Senior Management and all employees within the Group.

The Board has an oversight responsibility for establishing the AML/CFT policies/guidelines and standards, while the Senior Management is accountable for the implementation and management of AML/CFT compliance programmes in accordance with the policies and guidelines approved by the Board.

The Group Sanctions Policy establishes restrictions and prohibitions to manage the risk of sanction breaches, as well as internal lists by robust screening of customers, related parties and transactions.

The adherence to AML/CFT compliance standards does not only strengthen the customers’ trust, but is also key to long-term sustainability for us, our customers and employees and the communities that the Group serves. A stronger compliance culture among employees across the Group will support the Group in withstanding all internal and external risks, as well as in adhering to relevant regulations.

To further strengthen the AML/CFT framework, the Group has embarked on the RHB AML/CFT Capabilities Enhancement (“RACE”) programme, which is targeted at elevating RHB’s AML/CFT risk management capabilities and future-proofing the Bank in line with our Agile operating model and Three Lines of Defence Principles.