Identity Verification
The first step of customer identification can be classified as identification and verification. Identification of customers should be performed within the scope of the procedures specified in the Regulation on the AML and CFT. Our bank identify customers or those who act on behalf or for the benefit of their customers by receiving their identification information and verifying it:
- Regardless of the monetary amount when establishing permanent business relationships,
- When the amount of a single transaction or the total amount of multiple linked transactions is equal to or more than twenty thousand Turkish Liras,
- When the amount of a single electronic transaction or the total amount of multiple linked electronic transactions is equal to or more than two thousand Turkish Liras,
- Regardless of the monetary amount in cases requiring STR,
- Regardless of the monetary amounts in cases where there is suspicion about the adequacy and the accuracy of previously acquired identification information.
Customer identification shall be completed before the business relationship is established or the transaction is conducted. When establishing permanent business relationship, information on the purpose and intended nature of the business relationship shall be received.
Our bank shall be required to take necessary measures in order to detect whether action is carried out for the benefit of another person. In cases where the person requesting the transaction declares that he/she is acting for the benefit of someone else, the identity and the authority of the person requesting the transaction and the identity of the person for the benefit of whom the transaction is conducted shall be identified in accordance with regulations.
Customer Due Diligence (CDD)/ Know Your Customer (KYC)
Our bank has adopted the principles of strong and effective CDD/ KYC , which is the most effective way to combat laundering and terrorism financing, to achieve effective and robust compliance risk management.
It is essential that the CDD be carried out on an ongoing basis and within the framework of certain periods of continuous monitoring.
A sound AML/CFT Program includes the following elements:
- Identification and verification of customer and beneficial owners, and the source of fund / asset,
- Scanning customers names and beneficial owners against international sanction lists (primarily the UN, EU, US, UK, France, Canada, etc.),
- Checking negative media news,
- Obtaining nature and the purpose of the business relationship,
- Acquiring information on anticipated / estimated transaction volumes and types
- Systematic identification and customer risk grading according to legal regulations in accordance with customer types
- Establishing detailed customer identification, acceptance rules and warning mechanisms, including senior management approval for high risk individuals and institutions,
- Execution of customer and transaction monitoring activities with a risk-based approach,
- Examination and investigate unusual customers and transactions
- Keeping customer information and documentation up-to-date, documenting and storing information and detected situations,
- Effective and appropriate internal and external reporting,
- Increasing awareness of the contents of the KYC, identification, extraordinary and unusual procedures, reporting and making announcement for changes on the laws and related legislation through training sessions and announcements,
- Establishing and maintaining a business relationship on the basis of transparency and mutual trust with customers is essential.
Customer Acceptance Policy
As a result of customer evaluation within the principles stated above; the following are essential:
- Identification of the customer risk,
- Detailed assessment for customers classified as high risk
- Taking actions to establish, refuse and / or terminate the business relationship with the customer
It is strictly forbidden to enter into business relations, to provide products and services by the persons and institutions within the scope listed below with the risk-based approach established within the scope of local and international laws and Audi Group principles.
- Persons and institutions that request an account opening with anonymous / fake names and nicknames,
- Shell Banks,
- Casinos or people and organizations involved in illegal and / or illegal betting activities,
- Non-profit Organizations (foundations, associations, etc.) registered in a country other than Turkey,
- Companies having bearer shares in their ownership structure or issuing bearer shares,
- Customers where the CDD cannot be conducted because they do not want to provide the required information and documents and are not cooperative (such as the failure to verify the identity of the customer or the suspicion of the reliability of the shared information, etc.),
- Customers that shows reasonable grounds for suspicion or detected suspicion that property or fund is related to a laundering and terrorist financing
- Persons and institutions designated in local and international sanction lists (OFAC, EU, UN, France, UK, Canada or local list if any)
- Persons and institutions demanding services, products and transactions for tax evasion,
- No funds or assets must be accepted or made available by the Bank before the customer identification and verification has been done, including identifying the beneficial owner where applicable and information on the purpose and intended nature of the business relationship has been obtained.
In the cases of absence of identification in the Bank or lack of information regarding the purpose of business relations, then the business relation cannot be established and Bank personnel cannot execute the transactions requested by the customers.
If the identification and confirmation fails when they are required as a result of the suspicion about the sufficiency and accuracy of a customer’s identification information, which was obtained earlier, the relationship is terminated.