Anti-money laundering policy
The Hokuriku Bank, Ltd
The Hokuriku Bank (the Bank) hereby states its determination of preventing money laundering as well as financing of terrorism (both of them are collectively referred to as ‘money laundering’ below) once again, which will be explicitly written down below
Money laundering means ‘the act of disguising and faking crime proceeds for the purpose of disguising illegal origin’, and financing of terrorism denotes ‘the act of providing terrorists with the funds necessary to carry out terrorist actions’.
Neglecting money laundering will lead to letting crime proceeds to be used for future criminal activities, and, further to causing criminal organisations to exert influence on legal economic activities. Thus prevention of money laundering becomes an important domestic and international agenda. Moreover, money laundering has recently been becoming more internationalized, sophisticated and complicated, which strongly calls for international cooperation for prevention.
As the Bank actively supports import and export as well as overseas business expansion of its clients, the Bank strongly acknowledges the importance of anti-money laundering measures, establishes the following internal management system and conducts its business operations.
1. Organisational structure
- The Board of Directors of the Bank, which is the highest decision-making body, is positioning the establishment of anti-money laundering system as the top management issue and is closely involved in it.
- The Board of Directors establishes the policy, standards and operational guidelines for preventing money laundering. Further, the Board forms a function for preventing money laundering and appoint the personnel in charge, who is continuously collecting information on money laundering, dealing with any related issues to money laundering, and reporting regularly and when needed.
2. Operation policy
The Bank clarifies the roles that its employees are playing with regard to preventing money laundering, and establishes a risk control system which enables appropriate measures to be exercised on a timely basis.
The Bank enhances its internal system in order to carry out appropriate measures on a timely basis with regard to identification.
4. SAR（Suspicious Activity Report）
The Bank promptly reports ‘suspicious activity’ that are reported by its branches and are detected through monitoring transactions to the authorities
5. Managing the correspondent banks
The Bank strives to collect sufficient information regarding its overseas correspondent banks, and implements its anti-money laundering measures regularly or where appropriate.
6. Training its directors and employees
The Bank periodically provides all the director and employee-oriented training and AML officer-oriented external training, and aims at knowledge acquisition of anti-money laundering, and improvement in awareness
7. Internal auditing of compliance
The Bank conducts audit of compliance status of anti-money laundering measures by independent auditors, and strives to further improve its internal system, taking the outcome of the audit into consideration.