Compliance

In a changing world it is essential to be confident about the future.

To step confidently into the tomorrow`s day, the world community forms the legal frameworks and strict regulations at the international level, which are mandatory for its every participant.

The world goes transparent. The business relationships are now built at the new level when the business reputation and an ability of a servicing bank to effectively adapt to the demands of the modern world and ensure the reliability and the financial security for its Customers, becomes an internal part of the customer focus “must”.

JSC UkrSibbank as a member of BNP Paribas Group is one of the first banks in Ukraine to integrate compliance culture into its everyday life affirming its status of the trustworthy Partner, not only by complying with laws and regulations, but also with their spirit. Compliance is a function on the move, which regulatory, geographical and societal changes place more at the crossroads of the strategy and everyday action of the Bank and its Customers. According to the world best practices, we change our Know Your Customer approach, establishing open and trusting long-term relationships with our Partners, refine the financial monitoring tools and form healthy corporate habits, which ensure successful and stable growth of our Customers` businesses.

Below please find the legal acts, regulations and the Bank`s politics which guide us in our everyday activities:

  1. The Law of Ukraine “On prevention and counteraction to legalization (laundering) of the proceeds from crime or terrorism financing, as well as financing proliferation of weapons of mass destruction” No. 1702–VII of October 14, 2014 (with subsequent amendments and supplements);
  2. The Regulation on Financial Monitoring Execution by Banks (approved by the Resolution of the Board of the National Bank of Ukraine No.417 of June 26, 2015 (with subsequent amendments and supplements);
  3. NBU Board Resolution on the Regulation “On sanctions” No. 654 of October 1, 2015.
  4. Group policies and procedures:
    • KYC (“Know Your Customer”)
    • Sanctions and Embargo
    • FATCA (“Foreign Account Tax Compliance Act”)
    • CSR (“Corporate social responsibility”)