With the rising of crimes using banking industry to conceal or transform the illegal assets, money laundering has become a more and more serious problem in recent years. It poses great challenges to financial institutions, especially in the area of compliance. A financial system with weak or ineffective countermeasures could be easily exploited by launderers and reward corruption and crime, damaging not only the reputation of financial institutions, but also the foreign investment, trust and integrity of the society as a whole.
Being aware of the important role played by every financial institution , we, the Export-Import Bank of the Republic of China (the “Eximbank”), are committed to comply with the laws, regulations, rules, high operational standard on financial institution relating to the Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT). The policy and guideline of strict compliance is constructed and a culture of good Governance is developed in all aspects of our banking services and operations. Our internal control system on AML/CFT, including KYC and Customer Due Diligence, is also adapted and adjusted up-to-date. On November 13, 2018, the Eximbank participated in the APG’s Mutual Evaluation and manifested its efforts in this regard.
Going forward, the Eximbank will keep its commitment to AML/CFT efforts by arranging ongoing employees training programs, updating internal AML/CFT guidelines and procedures on a regular basis and adhering to the latest international best practices, especially those endorsed by the Financial Action Task Force on Money Laundering (FATF), Basel Committee on Banking Supervision, and Wolfsberg Group.
The delegation of Eximbank led by President Jean Liu to attend the APG’s Mutual Evaluation. (Photo taken in Nov. 2018)
The Eximbank Chairman Shui-Yung Lin invited Dr. Carol Lin, NCTU Distinguished Professor to deliver an AML lecture at Eximbank. (Photo taken in March 2019)