Compliance
Information about measures to combat money laundering
Financial institutions globally have implemented anti-money laundering/anti-terrorism financing programs to counter the misuse of the financial systems and to eradicate and prevent such practices in the future. As a global Transport Finance specialist, DVB participates in such activities.
Money Laundering is a criminal offence that is punishable under section 261 of the German Criminal Code. Based upon the requirements promulgated under the Third EU Anti-Money Laundering Directive (2005/60/EC) the Government of the Federal Republic of Germany amended and expanded the Anti-Money Laundering Act effective August 2008. For DVB Bank SE compliance with these regulations is a minimum standard.
Furthermore, DVB Bank SE and the DVB Group are required to comply with local legal requirements. We honor the requirements of the Financial Action Task Force (FATF), the recommendations of the Basle Group and the Wolfsberg Anti-Money Laundering Principles.
We do so through our independent Compliance Team. Our Anti-Money Laundering efforts are reviewed on a regular basis and expanded to accommodate any changes required and to reflect best practices. DVB Bank SE has invested in an automated system which ensures that our standards are enforced and that risks are proactively identified.
DVB Bank SE and DVB Group have issued a Joint Declaration on measures that are taken to combat money laundering and terrorism financing.
Criminal Code of the USA
In response to the terrorist attacks on 11 September 2001, the USA enacted the USA PATRIOT Act (Uniting and Strengthening America by Providing Appropriate Tools required to Intercept and Obstruct Terrorism Act). The USA PATRIOT Act takes measures and sanctions against terrorist attacks.
The “Certification regarding Correspondent Accounts for Foreign Banks” is part of the PATRIOT ACT requirements. This certification is to be completed by any “Foreign Bank” that maintains a correspondent account with any US Bank or US broker-dealer in securities. A “Foreign Bank” is a bank organised under foreign law and located outside the USA.
Should you have additional questions, do not hesitate to contact our Group Compliance Office.
