Anti-Money Laundering (AML), Know Your Customer (KYC), and Combating the Financing of Terrorism pol

Welcome to Royal Bank & Private Statutory Trust, where we prioritize integrity, compliance, and security in all aspects of our financial services. We understand the critical importance of safeguarding against illicit activities such as money laundering, terrorist financing, and other financial crimes. As part of our unwavering commitment to regulatory compliance and risk management, we have developed and implemented a comprehensive Anti-Money Laundering (AML), Know Your Customer (KYC), and Combating the Financing of Terrorism policy (CFT).

Our Commitment:

At Royal Bank & Private Statutory Trust, we are dedicated to upholding the highest standards of AML, KYC, and CFT practices to protect not only our institution but also our valued customers and the financial system as a whole. Our commitment includes:

- Adherence to all pertinent laws and regulations governing AML, KYC, and CFT practices.

- Conducting thorough due diligence on all customers to verify their identities, assess their risk profiles, and monitor their transactions for any suspicious activities.

- Utilizing innovative technologies such as GlobalPass to enhance our AML, KYC, and CFT capabilities, thereby ensuring effective risk management and mitigation.

Key Procedures:

Customer Due Diligence (CDD): 

We prioritize customer due diligence by conducting in-depth assessments to establish the identities of our customers, evaluate their risk levels, and monitor their activities for any signs of irregularities or red flags.

Transaction Monitoring:

Our state-of-the-art transaction monitoring system enables us to track and analyze customer transactions in real-time, allowing us to swiftly detect and report any suspicious activities as per regulatory requirements.

Reporting and Compliance:

Royal Bank & Private Statutory Trust maintains a robust reporting mechanism to promptly escalate and report any suspicious activities to the appropriate regulatory authorities, ensuring full compliance with regulatory obligations.

Employee Training:

We are committed to providing comprehensive training and continuous education to all our employees to enhance their understanding of AML, KYC, and CFT regulations, fostering a culture of compliance and integrity throughout the organization.

By implementing this comprehensive AML, KYC, and CFT Policy and leveraging advanced tools like GlobalPass, Royal Bank & Private Statutory Trust is steadfast in its mission to promote a culture of compliance, transparency, and ethical conduct. We are resolute in our commitment to combating financial crimes and safeguarding the interests of our institution, customers, and the wider financial community. Join us in our journey to uphold the highest standards of regulatory compliance and ethical practices in the financial industry.

Any client or potential client found to be in violation of any financial crimes risk having their account frozen and  turned over to the proper authorities and prosecuted to the fullest extent of the law. 

For further information about our AML, KYC, and CFT practices, please feel free to reach out to us via the Contact Us page.