National Bank of Canada, its subsidiaries and foreign centres (the Bank) wish to not only comply with domestic and international laws prohibiting bribes and corrupt activities, but also to maintain public trust. Therefore, the Bank has set up a robust Anticorruption Program which expresses the Bank’s greater ethical values and its renowned commitment to corporate responsibility, wherever we are in the world. At the heart of this program is the Anticorruption Policy.
Below is a summary of the Bank’s Anticorruption Policy which describes the anticorruption guiding principles and main prohibitions as well as an independent reporting mechanism.
National Bank of Canada, its subsidiaries and foreign centres (the "Bank") are committed to taking all reasonable and appropriate measures to reduce the risk of its products and services being used for money laundering and terrorist financing ("MLTF") purposes.
The Bank must comply with the regulatory requirements applicable in every jurisdiction in which it operates and with the requirements related to international sanctions in each of these jurisdictions.
The Bank holds itself to high regulatory compliance risk management standards notably to ensure compliance with the requirements of the Proceeds of Crime and Terrorist financing Act and its Regulations, as well as to earn the trust of its clients, its shareholders, the market and the general public.
The Bank’s anti-money laundering/anti-terrorist financing ("AML/ATF") program (the "AML/ATF Program") is the main vehicle for establishing and maintaining effective control of the risk of exposure to MLTF activities throughout the organization. The AML/ATF Program includes the key elements described below:
Several key controls, which are outlined in the applicable standards, have been implemented to ensure compliance with regulatory requirements. Here are the main key controls:
The AML/ATF Program is routinely evaluated, updated and enhanced in order to reflect changes to the Bank’s activities, as well as applicable supervisory standards and legal requirements.
The Correspondent Banking Due Diligence Questionnaire* (CBDDQ) completed by the Bank and which describes its AML/ATF practices is available here:
*We recommend consulting the Bank’s CBDDQ. It should cover the questions of your financial institution’s AML questionnaire.