ATFBank JSC (hereinafter - the Bank) provides its Clients with efficiency, security and transparency in conducting operations. The Bank, as a subject of financial monitoring, shall verify the legality of operations to protect the rights and legitimate interests of citizens, society and the state by creating a legal mechanism to combat money laundering and terrorist financing (hereinafter - AML/CFT).
The AML/CFT system is built in accordance with the Law of the Republic of Kazakhstan "On Anti Money Laundering and Terrorism Financing" dated 28.08.2009. (hereinafter referred to as AML/CFT Law) and developed according to recommendations of the international intergovernmental organization FATF (Financial Action Task Force on Money Laundering) on combating legalization of criminal incomes and terrorism financing.
The Bank's daily AML/CFT measures consist of identification and collection of information about the Client: his representative, beneficial owner, source of origin of money, as well as information about the transaction carried out. The received data is stored at least 5 (five) years.
This activity is part of financial monitoring, as a set of measures to collect, process, analyze and use data and information on transactions with money and (or) other property carried out by the authorized state body and subject of financial monitoring in accordance with the AML/CFT Law.
In this regard, the Client shall provide all necessary information enabling the Bank to verify the legality of the transaction. In case of providing insufficient information, the Client may face a delay in carrying out non-cash payment transactions, as well as in cash withdrawal.
Non-compliance with the above requirements entails significant risks: from delays in payment to closing of a bank account and criminal prosecution.
In order to function in the legal field, the Bank asks its Clients to observe the following culture of information and business security with partners:
- to check the relevance of the partner's registration information, including the actual and legal address, telephone numbers and e-mail addresses;
- to possess information about the partner's activity;
- to check the purpose of payment and exclude "intermediary" payments and transactions with goods/work/services not related to the Client's direct activity;
- to specify the purpose of payment in the most detail;
- to avoid unreasonably hasty major cash transactions;
- to confirm the necessity to withdraw cash not only with primary documents, but also with the business structure justifying such payments;
- timely and fully pay taxes;
- to make timely changes in the state bases in case of expansion of the list of economic activities;
- not to use personal bank accounts and payment cards for business activities, including for payment under contracts for the purchase of goods / raw materials, payment for works / services, etc.;
- to provide documents requested by the Bank. In the absence of any requested document, explain the reasons.
In case of necessity of carrying out of non-standard operation, the Client should prepare in advance the documents proving legitimacy and "naturalness" of the planned operation according to its business profile, types of activity, constituent documents/ licenses, and also have other documents confirming compliance of operation with the legislation of the Republic of Kazakhstan.