The
Compliance Office ensures accomplishment of internal regulations of the bank,
including laws and regulative acts issued by the entitled authorities as well
as the international best practices in the banking activities.
In the performance of its activities, the Compliance Office monitors
the fulfilment of the regulations by the several areas of the bank,
in order to assure its accomplishment as well as to improve their
knowledge by the employees. The regulations are available in the
intranet and a coaching recurrent program is carried out throughout
the bank.
In Mozambique legislation, the Law nr 7/2002 was published in the
Republic Bulletin(BR) nr. 7, dated February 13, which sets
the legal regime of prevention and restraint of the financial system
utilization for the practice of acts of money laundry, goods,
products or rights resulting from criminalacts, regulated by
the Decree nr.37, published in the Republic Bulletin nr. 37, dated
September 8, 2004. This legislation has been introduced into
financial institutions through the Notice of the Governor of the Bank
of Mozambique nr. 1/GBM/03 of February 26. The bank recognises the
recommendations of the Group d’Action Financiere/Financial Action
Task Force (GAFI/FATF) concerning with financial system prevention
from money laundering, issued in 1990, as well as its updating, in 2001,
with inclusion of the fight against terrorism financing. The
legislation and the recommendations above referred to have been
transcribed into regulations of the banks.
The accomplishment of the best international practices in terms of Know Your Customs (KYC) and due diligence, involved
installation of filters in order to detain operations carried out by
bodies subject to embargoes or international sanctions, and
transactions of one-way or partial money that may sum up to 441
minimum wages, subject to verification or proof, in terms of law.
The bank employees coaching and training program concerning with
Compliance Office issues is transverse to the bank and its associate
(Insurance Company), and it covers all business areas.
