AML
Anti-Money Laundering and Terrorist Financing Policy
JSC Ziraat Bank Georgia is a member of Ziraat Financial Group of the Republic of Turkey, one of the main focus of which is to adherence the highest standards of anti-money laundering and terrorism financing policies. The Compliance Program of Anti-Money Laundering and Terrorism Financing Standards of JSC Ziraat Bank Georgia covers the following issues:
- Identification and verification of clients and their beneficial owners;
- Identification of Politically Exposed Persons, verification of identities and rules of service;
- Enhanced Due Diligence procedures for high risk clients;
- Identification of potential risks of money laundering and financing of terrorism related to banking products;
- Policies and Procedures to combat money laundering and terrorism financing ensuring compliance with international and local anti-money laundering laws and regulations;
- Procedures for monitoring and reporting customer’s suspicious behavior;
- Verification of clients in international lists of terrorists and / or terrorism supporters, as well as lists of relevant financial and other types of sanctioned persons;
- Regular staff training and awareness raising;
- Manage regulatory requirements and identified weaknesses;
- Coordinate day-to-day activities in order to compliance with regulations through compliance staff.
JSC Ziraat Bank Georgia strictly adheres to its core principles in its business, such as: Know Your Client and Client Identification Procedures, also the bank has no correspondent relations with fictitious banks. Particular attention is paid to detecting suspicious and unusual transactions. All employees of JSC Ziraat Bank of Georgia, who have direct or indirect contact with the Customer, systematically conduct trainings on how to act in cases where clients’ behavior or transactions are suspected of money laundering or terrorist financing.
Standards set out in domestic policies to combat the prevention of money laundering and the financing of terrorism are based on relevant legislative and regulatory norms, also the best practices to protect JSC Ziraat Bank Georgia and its clients from money laundering, terrorist financing and other fraudulent practices.
All documents obtained during identification process of a customer, as well as information and records of client accounts and transactions made by him/her and any other documents are kept electronically for at least 10 years. For further questions on anti-money laundering policy of JSC Ziraat Bank Georgia please contact:
FATCA
To comply with the requirements of Financial Action Task Force (FATCA) , JSC Ziraat Bank Georgia is registered on the US Tax Service website on 03.06.2014 By status - CERTIFIED DEEMED COMPLIANT FFI under a Model 1 IGA And assigned an identification code (Global Intermediary Identification Number (GIIN) - GIIN: U0UYM2.00008.ME.268
CRS
We would like to share an important information about the Common Reporting Standard (CRS).
According to the decision of the Parliament, from 2023, the changes made in the Tax Code and Georgia joined the unified system of automatic exchange of information on financial reports. Information will be exchange in accordance with the international reporting standard.
According to the standard, the financial institutions in Georgia are required to obtain information about the tax residency / status of the customer - specifically which country they have a business relationship with and accordingly, in the case of both the entity itself and its beneficiary(ies), are they residents of that country/countries for tax purposes?
In the event that a legal entity and/or a beneficiary of a certain category of legal entity is a tax resident of another country other than Georgia, the financial institution annually shares the obtained information with the Revenue Service, which is authorized to transfer this information to the countries with which Georgia signs an information exchange agreement.
The financial institution will obtain information from the user by filling out a questionnaire (self-declaration), which will be available in the bank's digital channels (Internet bank), branches and call center. The financial institution is authorized to check the correctness / compliance of the information submitted by the user with the information in its possession and, if necessary, to request a re-declaration. In case of incomplete information on the part of the customer, the information will be provide to the Revenue Service based on the information available to the bank. It is also possible to restrict access to accounts and transactions. In addition, in case of changes in the data / information specified by the customer, he/she is obliged to immediately notify the bank about the change in such circumstances and provide complete, updated information.