The Management of the Bank shall ensure the implementation of the Compliance Policy through the operation of the Compliance Unit.
This Policy describes the organizational structure, reporting lines and the Bank's operating framework. In addition aims to address and manage the risks and hazards of any failure to comply Credit Foundation to the existing legislative and regulatory framework, ethics and codes of self-regulation rules (Regulatory Framework) and in the management of conflicts of interest.
Mechanisms Prevention and Suppression of Money Laundering and the Financing of Terrorism (AML)
The Human Bank in the context of the obligations on the prevention and suppression of money laundering and terrorist financing, has appropriate policies and procedures, as currently specified in letters or circulars of the Bank of Greece, which is consistent with the objectives attracting customers, countries of operation and trade networks they use, and IT support for the assessment of clients as to the risks posed and commensurate with the risk management.
There are procedures to identify transactions which are inconsistent with the knowledge that the Bank has for the customer and transaction behavior, their investigation and reporting, if necessary, with appropriate documentation and adequacy.
Preventive measures in this area are governed by the same principles that apply in respect of other risks and be adapted to the size and shape of a credit institution. In particular ensure:
1. An understanding of the strains and where appropriate competent units of a risk class of customers and transactions, or a combination thereof, as well as the policy and procedures to be applied.
2. The application acceptance criteria of the contractual relationship with the client, the classification of customers by risk grade and then to monitor this relationship (activity).
In addition, to enhance the effectiveness of the policy to provide for the annual assessment of the methodologies and adapt the training of authorized officers to the new market conditions and practices.