Money laundering prevention
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 Basel 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 the DVB Group have issued a Joint Declaration on measures that are taken to combat money laundering and terrorism financing.
The “Certification regarding Correspondent Accounts for Foreign Banks” is part of the USA 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. Please download the certification signed by our Board of Managing Directors.
The questionnaire has become a standard document by which financial institutions can assess the anti-money laundering program of another institution. DVB Bank SE is providing the completed questionnaire in order to facilitate business with other financial institutions. The questionnaire represents DVB Bank SE as well as all additional members of the DVB Group.
For more information in respect to the Wolfsberg Group, please follow www.wolfsberg-principles.com.
