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BCA’s AML and CFT policies and procedures have been approved by Board of Commissioners and Board of Directors. These policies and procedures apply to all BCA’s branch offices. The AML and CFT policies and procedures cover:
BCA’s AML and CFT implementation is subjected to regular audit by Indonesia Financial Services Authority as the bank supervisor, internal auditor, and Indonesian Financial Transaction Reports & Analysis Center (INTRAC).
Some significant terms from the USA Patriot Act is aimed at preventing money laundering and terrorist funding through corresponding foreign bank accounts that exist in American financial institutions.
In order to fulfill those requirements, American financial institutions set a regulation for all foreign banks that have or intend to have a corresponding account to fill out a standard form of certificate. The form was sent to all foreign banks that have a corresponding accounts, stipulating that those foreign banks should do the following :
In order to fulfill the USA PATRIOT Act requirements, PT Bank Central Asia Tbk has filled in the form of cerfiticate which is valid for all accounts opened for PT Bank Central Asia Tbk by 'Covered Financial Institutions'.