The banking industry is very vulnerable to being used or exploited as a place for money laundering and terrorism financing, so to prevent this it is necessary to implement a good and effective Anti-Money Laundering and Countering the Financing of Terrorism (AML-CFT) policies.
There are several procedures which have been taken by Bank in performing the policies of anti-money laundering and countering the financing of terrorism, such as:
In implementing AML-CFT policies and principles, information management system is needed. Utilization of information technology helps Bank for providing necessary data, identifying customer profile, monitoring, investigating and analyzing customer transaction effectively.
To improve employees’ awareness and understanding of the importance of money laundering and terrorist financing in prevention of criminal use of the banking system, Bank Mestika constantly conducts training about AML and CFT for employee and bank officer. The training
are expected to increase employees’ knowledge in execute the policies of AML and CFT for minimizing the crime.