This policy statement is intended to guard against Prime Bank Gambia Ltd’s unintentional involvement in any criminal activity, and to restate the bank’s policy of cooperation with law enforcement and regulatory agencies.
With a view to ensuring, that the financial system is not used as a channel for criminal funds, managers and their subordinates should continue to make reasonable efforts to determine the true identity of all customers and beneficial owners that request Prime Bank Gambia Ltd’s products and services. Significant business transactions will not be conducted with customers who fail to provide evidence of their identity.
Prime Bank Gambia Ltd will continue to conduct its business in conformity with high ethical standards in the Gambia, and to fully adhere to all laws and regulations pertaining to financial institutions. While it is accepted that the bank may not be always in a position to determine whether a transaction originates from, or is part of, a criminal activity. Prime Bank Gambia Ltd shall conduct its business in compliance with the following general principles:
- Will exercise reasonable steps to determine the true identity of all customers and beneficial owners of Prime Bank Gambia Ltd’s products and services. Shall not knowingly accept funds from, make loans to, or do any type of business. Will not ignore indications that customer’s money originated from criminal or other money laundering activities. when Prime Bank Gambia Ltd becomes aware of facts which lead to a reasonable presumption that funds held by it are from criminal or other money laundering activity or that transactions entered into are themselves criminal in purpose, appropriate measures, consistent with the law, shall be taken, including, for example, denial of assistance to the customer, severing relations with the customer, closing or freezing accounts and when appropriate filing of a suspicious activity report. Will continue to avoid providing support or assistance to customers seeking to deceive law enforcement agencies through the provision of false, altered, incomplete or missing information. Undertake to cooperate fully with law enforcement and regulatory agencies through the extent that it can do so under all applicable laws and regulations.
- To make sure to report all identified instances of suspicious transactions are handled properly and reported accordingly in accordance with the AML ACT 2003.
All Prime Bank Gambia Ltd branches wherever located, are to be informed of this Policy Statement, and attention will be given to establishing standard procedures and to set training seminars and workshops for branches and departments’ staff members in matters covered by this policy, as appropriate.
Prime Bank Gambia Ltd will endeavour to have all staff fully understand those actions that may be in violation of applicable anti-money laundering statutes, and to report any suspicious transactions in the manner set forth in the appropriate Anti-Money Laundering (AML) compliance manual or money Laundering Act 2003.
We shall endeavour to ensure that each manager make reasonable attempts to have all subordinates in his or her area be fully informed regarding AML and in accordance with the Bank’s AML compliance manual cum policies and The Gambia AML Act 2003.
Prime Bank Gambia Ltd is committed to, both compliance and quality.