Beirut Insurance Group- Compliance

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Compliance

Economic damage caused by financial crime is ever-increasing.
Bank of Beirut (UK) Ltd., Frankfurt Branch being the German branch of Bank of Beirut (UK) Ltd, in London makes every effort to ensure that customers and employees do not become victims of financial crime or otherwise become caught up in it, and that its products and processes cannot be abused for fraudulent activities.

Compliance

Bank of Beirut (UK) Ltd. including the branch in Germany has an independent Compliance function which ensures that the bank complies with all relevant laws, regulations, rules, internal policies and procedures applicable to its banking activities.

Screening of Customers

Bank of Beirut (UK) Ltd, Frankfurt Branch utilizes various software and databases to screen prospective and existing customers, beneficial owners, shareholders, directors, etc. as well as parties to transactions, against international sanctions lists including those issued by the United Kingdom, Germany, EU, and UN.

Transaction Monitoring

The bank conducts ongoing transaction monitoring in order to identify potential suspicious activity.

Training and Education

AML, CTF and ABC trainings are provided to appropriate personnel on an ongoing basis.

Internal, External and Compliance Audits

External and internal testing is conducted periodically to ensure that the Bank’s AML and Compliance programs are functioning as required.

USA Patriot Act

Bank of Beirut (UK) Ltd including their German branch in Frankfurt comply with the USA PATRIOT ACT.

Financial Services Compensation Scheme

Eligible deposits with London and Frankfurt Bank of Beirut (UK) Ltd are protected up to a total of £85,000 per person by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme

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