Compliance Department

Banque BEMO has established the Compliance Department as part of its ongoing efforts and commitment to comply with local and international compliance standards. The Department is composed of two units: the AML/CFT Compliance Unit and the Legal Compliance Unit.

Compliance is viewed as an integral part of the Bank's business activities with the aim of protecting the Bank's name and reputation and in order to prevent the use of the Bank's products or services for money laundering and terrorist financing. Banque BEMO introduced internal policies and procedures in compliance with laws, rules and standards which are reviewed on an annual basis or when deemed necessary and approved by the Board of Directors.

Customer Due Diligence /Know Your Customer

The Bank is constantly refining its tools, including its systems for fighting money laundering and terrorist financing. The Due Diligence process encompasses regular screening against local and international watch-lists as well as continuous update of the "Know Your Customer, KYC"  process.

Training and awareness

All staff members systematically attend a general training discussing the AML/CFT concept and the tools to protect the Bank from money laundering and terrorist financing activities. Furthermore, the Compliance Team is regularly attending indoor and outdoor training programs organized by the Central Bank of Lebanon, Special Investigation Commission, Association of Banks in Lebanon, World Union of Arab Banks and other reputed training organizations in order to remain up to date with the new local and international laws, sanctions, regulations and FATF recommendations. On top of that, and as part of its ongoing commitment for employees continuing development, Banque BEMO launched an E-learning portal containing a set of modules to enhance the knowledge and skills of staff members in relation to AML/CFT topic.

(*) Banque BEMO obtained ISO 9001:2015 Certification on the Compliance Department


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