In its daily operations with Customers and in performing transactions in Customers’ accounts, the Bank strictly observes national and international sanctions, inter alia, those imposed by the European Union, the United Nations Organization, and the Office of Foreign Assets Control (OFAC) of the US Department of the Treasury. The Bank is obliged to observe requirements set forth in normative acts with regard to the observation of sanctions; therefore, the Bank carries out enhanced inspection of payments and may request additional information and/or documents regarding incoming and outgoing payments.
Sanctions are restrictive measures imposed by international public law and approved by international organisations and/or countries with regard to particular countries, particular subjects of sanctions (terrorists, persons accused of military and political crime, extremist organisations, etc.), or particular activities.
The following types of sanctions are distinguished:
- financial restrictions;
- civil restrictions;
- restrictions of turism services;
- restrictions imposed on the circulation of goods of strategic significance and certain goods;
- embargo on armour and goods related thereto.
The Bank strongly recommends obtaining and verifying information regarding potential partners and their areas of activity prior to commencing cooperation, as well as updating the obtained information during cooperation paying particular attention to transactions that involve persons from regions and jurisdictions subject to sanctions.
Information on sanctions programmes and countries subject to sanctions is available on the following websites:
List of countries with which the Bank does not cooperate.
Please note that given high money laundering and financing of terrorism risks, the Bank reserves the right to reject transactions related to the following countries:
- North Korea (Democratic People's Republic of Korea)
- South Sudan
The Bank encourages to exercise particular caution in choosing partners and performing transactions related to these countries.
Should you require finding out additional information regarding prevention of money laundering and observance of sanctions requirements at our Bank, please write to firstname.lastname@example.org
, and our specialist will answer any questions of your concern.