Anti Money Laundering refers to a programme of processes, systems and controls intended to prevent Money Laundering and comply with legal requirements designed to support that objective.

Beneficial Owners are those who have a shareholding, beneficial interest, voting rights (or otherwise) in an entity, partnership or trust. Beneficial Owner may or may not exercise control over the management of the legal entity.

Correspondent Banking is the provision of banking-related services by one bank (Correspondent) to an overseas bank (Respondent) to enable the Respondent to provide its own customers with cross-border products and services that it cannot provide them with itself, typically due to a lack of an international network.

CDD encompasses knowledge, understanding and information obtained on a Customer throughout the lifecycle of the relationship, including transactions and use of products. Identifying the Customer and verifying this information from the commencement of the relationship is the initial step to understanding and knowing the Customer.

Any person appointed to direct its affairs, including a person who is a member of its governing body and a person in accordance with whose directions or instructions (not being advice given in a professional capacity) the directors of that body are accustomed to act.