To: Correspondent Banks
Re: Measures taken by OJSC “Agroinvestbank” on prevention of legalization (laundering) of incomes received through criminal means and financing of terrorism
Hereby, we kindly inform you on the following:
· Procedures of OJSC “Agroinvestbank” on preventing the legalization
(laundering) of incomes in OJSC “Agroinvestbank” approved by the resolution of the Board of OJSC “Agroinvestbank” under No.183 dated June 18, 2012.
A work group has been set up in OJSC “Agroinvestbank” responsible for organization of works and procedures in the Bank for countering the legalization (laundering) of incomes obtained through criminal means and financing of terrorism as well as internal control rules have been approved and agreed for the purpose of preventing the legalization (laundering) of criminally obtained funds and financing of terrorism, which include the following measures:
· Mandatory procedures for internal control;
· Mandatory control;
· Prohibition of informing customers and other persons on measures taken against the legalizationfunds received through criminal means;
The main procedures to combat money laundering are the following:
· Customer Identification;
· Know Your Customer;
· Account monitoring;
· Collection, accumulation and storage of customer records;
· Information on suspicious operations of customers;
· Creation of database on individuals suspected of terrorism;
· Process of background check of candidates prior to job recruitment;
· Educating and training of bank employees;
· Informing the management;
Works are underway in the Bank on identification of transactions subject to mandatory control, unusual transactions and collection of additional information on the activities of the Bank's customers for the purpose of establishment of risk categories as well as verification of the identity of beneficiaries.
OJSC "Agroinvestbank" does not maintain correspondent relations with non-resident banks that do not have a place of business in the countries of their incorporation and takes serious measures aimed at preventing the establishment of correspondent relations with non-resident banks whose accounts are known to be used by banks without usual place of business in the countries of their incorporation.
Republic of Tajikistan, 734018, Dushanbe
21 Saadi Sherozi ave
Chairman of the Bank