GENERAL STATEMENT ON OBSERVANCE OF ANTI-MONEY LAUNDERING REQUIREMENTS
FRUX PRIVATE BANK is firmly committed to participating in international efforts to combat money laundering and the funding of terrorist and criminal activities.
FRUX PRIVATE BANK is a registered banking institute and supervised by the Business Enterprice Regulations 2013 of the Republic of the Gambia. In addition, FRUX PRIVATE BANK seeks to follow the Swiss Banker Association’s self-regulatory body codes of conduct which define what constitutes good practice and ethically correct management within the Swiss banking industry.
Switzerland is a member country of the Financial Action Task Force (FATF) and has enacted laws and rules designed to implement the anti-money laundering policies of both FATF and the EU. The goal of these laws is to detect and prevent money laundering and potential terrorist financing.
FRUX PRIVATE BANK implements an anti-money laundering (AML) program that is designed to comply with the required anti-money laundering rules as a minimum standard throughout the bank as well as with all local laws, regulations, and guidance relating to the prevention of money laundering, terrorist financing, and related financial crimes. These include written policies and procedures.
As part of its anti-money laundering and anti-terrorist compliance efforts, FRUX PRIVATE BANK takes steps to ensure that it complies with any and all applicable embargo regulations. FRUX PRIVATE BANK uses its best efforts to ensure compliance with these prohibitions and restrictions and to detect suspicious activities. Depending on the jurisdiction and business line, FRUX PRIVATE BANK uses manual monitoring systems to detect potential suspicious activities. Any such suspicious activities detected are reported to law enforcement in accordance with applicable local laws.