Anti-Money Laundering and Counter-Terrorist Financing Policy
The headquarters of Far East National Bank (the "Bank" or "FENB") are located in Los Angeles, California in the United States. The U.S. is a member of the Financial Action Task Force (FATF). The Board of Directors and Senior Management of the Bank are committed to an effective Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and Counter-Terrorist Financing (CTF) Program that encompasses full compliance with all aspects of the USA PATRIOT Act including a Customer Identification Program, Office of Foreign Assets Control guidelines, and other relevant statutes, rules and regulations. BSA has been a critical part of the Bank’s compliance program for many years, with increased focus on AML/CTF activity, enhanced due diligence (EDD), and "know your customer" (KYC) rules. FENB is determined to engage in a risk-based BSA policy, investigation and diligent scrutiny of all banking relationships with customers, vendors and other third parties. This program of strict compliance with BSA principles will ensure safe and sound banking practices and reduce fraud, false identity, or losses that might otherwise result from a less stringent BSA policy. The Board of Directors of the Bank has firmly committed to adherence to the BSA and any subsequent updates in the U.S. to combat money laundering and terrorist financing.
Overview of the AML/CTF Program
The Board of Directors of the Bank has adopted a AML/CTF program that includes policies, procedures, and internal controls that comply with applicable laws and implemented standards to set forth this Policy. The AML/CTF program is recorded in board minutes which includes:
FENB Questionnaire on AML/CTF
The Bank has completed this questionnaire to be used by its correspondent banks to comply with the International practice.
Please click here to view the FENB Questionnaire on AML/CTF