Anti Money Laundering (AML) / Know Your Clients (KYC) :


Anti Money Laundering (AML):


At Global Suvarchase Bank Limited (“GSBL”) we ensure appropriate measures are taken for the prevention of financial crime and we have adopted procedures to detect and deter money laundering, terrorist financing or other illegal activities. We have Money laundering Reporting Officer (MLRO) to keep a close check on the conduct of business and a whistleblower policy for such situations is in place.


In addition to that, we have a comprehensive Anti-Money Laundering (“AML”) policy for the guidance of our employees in order to prevent, detect and report any financial crime perpetrated through money laundering similar illegal activities. Our policy aims to serve the objectives below:

  • The reporting and detection of suspected money laundering to the authority;
  • All staff are trained to remain vigilant for the signs of money laundering;
  • Due diligence and client identification procedures will be followed by all staff and at all times;
  • To maintain strict and robust controls and procedures to detect and report any suspicious activity;
  • Frequent risk assessment and audits of all AML and terrorist financing controls and systems.

Our employees are committed to the highest standards of AML, including anti-fraud, anti-corruption and taking measures to mitigate against financial crime. GSBL abides by and adheres to all applicable laws and regulations regarding AML in all jurisdictions where it conducts its business. We have developed and implemented a comprehensive set of measures to identify, manage and control all AML risks.


Know Your Customer (“KYC”):


At GSBL, we go have thorough KYC checks to ensure the true identity of our clients in terms of who we are dealing with. Our usual procedure involves the following:


  • Obtaining all standard documentary evidences for the business and the individuals involved;
  • Name matching against the list of Politically Exposed Person “PEP”
  • Determination of client’s risk in terms of propensity to commit money laundering and similar activities;
  • Updation of KYC information on yearly basis to monitor the change in the position of existing clients;
  • Monitoring of clients business transactional behavior.


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