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. This ensures that our customers receive the very best service as required by our stringent internal standards and the requirements of our regulatory bodies which are: the Prudential Regulation Authority, the Financial Conduct Authority and BaFin.

The Compliance function also encompasses other important specific areas such as the prevention of money laundering (AML) and terrorist financing (CTF) and anti-bribery and corruption (ABC).

Know Your Customer (KYC)

The basis of all procedures for AML and CTF is having sufficient customer information to enable the bank to know exactly who they are conducting business with and why.

Customer identification procedures and due diligence measures apply to any natural person or legal entity of any type that conducts business with the Bank. These measures include the following:
- Identifying and verifying the customer's identity on the basis of documents, data or information issued or obtained from a reliable and independent source;
-Identifying the beneficial owner who ultimately owns or exercises control over the customer;
-Collecting information on the purpose and intended nature of the business relationship.

Bank of Beirut (UK) Ltd. including their German branch take all necessary measures to identify its customers at the outset of the relationship. An account relationship is never established until the identity of a potential customer is satisfactorily established and verified. The bank conducts periodic reviews to establish the veracity and adequacy of previously obtained customer identification documents, data or information.

Data Protection (GDPR)

The General Data Protection Regulation (GDPR) came into force on 25^thMay 2018 across the European Union (EU). It builds upon existing data protection laws in place in the EU, and is designed to give individuals, such as customers and employees, increased rights and transparency over their personal information by helping them understand how companies, such as Bank of Beirut (UK) Ltd, use their data, for example, for lawful purposes in the provision of banking services. The law also gives individuals the ability to exercise their rights such as correcting or accessing their data.

Under the legislation, the bank is required to issue a Date Protection Notice and this may be accessed via the following link: 

BOBUK Data Protection Notice