Compliance

The main goal of the Compliance, AML/CFT policy of "Premium Bank" OJSC is to prevent cases of legalization of funds obtained from illegal activities in a timely manner, to prevent the bank from being used for these purposes, and to establish an effective control mechanism over the conducted banking operations, including consists of identifying and preventing possible violations of legislative requirements, promoting transparency, honesty, and ethical behavior in the Bank, protecting the Bank's business reputation, and improving correspondent banking relations and customer-Bank relations.

The Premium Bank's AML / CFT, Compliance Policy is based on International conventions to which the Republic of Azerbaijan is a party, as well as the Recommendations of the FATF (Financial Action Task Force), the Law of the Republic of Azerbaijan on Banking, the Law of the Republic of Azerbaijan On the Prevention of the Legalization of Criminally Obtained Funds or Other Property and the Financing of Terrorism and includes at least the following measures:

• Protection of the bank from being used for AML/CFT purposes, acting in accordance with the requirements of local legislation, international legal acts, which the Republic of Azerbaijan stands for
• Instruct the bank's employees in order to identify and prevent incidents related to AML / CFT
• Organizing Independent and transparent AML / CFT, Compliance function;
• Protect business reputation of the bank from risks associated with AML/CFT
• İmplementing advanced solutions (FICO Siron Tonbeller) for automatisation of processes;
• Developing and implementing internal rules and procedures;
• Formazing transparent customer base;
• Risk-based approach;
• Customer acceptance and rejection policy;
• Sensitive business approach;
• International sanctions policy;
• CDD and EDD;
• Customer review;
• Transaction monitoring;
• Tranings, knowledge enhancement;
• Internal Audit and Control function;
• Conflict of interests policy;
• Code of Ethics;
• Fraud prevention and Whistleblowing policy etc.

  Did You Know?
  You can help prevent the use of our bank as a tool for money laundering or terrorist financing.

  Simply report any of the following situations (or similar concerns) to [email protected]:

• Suspicion of fraudulent actions or omissions by customers (e.g., document forgery, false information, etc.).
• Employees deviating from internal procedures to benefit a customer.
• Employees providing false information or concealing facts from their supervisors or colleagues to gain personal advantages (financial or non-financial).
• Actions or omissions by customers or employees that could damage the bank’s reputation.
• Unauthorized disclosure of confidential information to third parties.
• Suggestions for improvements or any issues you identify regarding our products, services, or processes.
• Feedback on the effectiveness of compliance activities.

• Your vigilance helps us maintain the highest standards of security and integrity.