AML FAQS

COMPLIANCE FREQUENTLY ASKED QUESTIONS

  • THE CURRENT LIST OF BOARD OF DIRECTORS AND CEO WITH THEIR DESIGNATION
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    • LIST OF  THE MAJOR SHAREHOLDERS HOLDING EQUAL TO OR  MORE THAN 10 PCT SHARES IN OUR INSTITUTION
      Shinhan Bank America is wholly-owned subsidiary of Shinhan Bank Seoul Korea
    • A CERTIFIED TRUE COPY OF INCORPORATION  CERTIFICATION
    • COMPLETED AML/KYC QUESTIONNAIRE AND DECLARATION OF BENEFICIAL OWNERS FORM
    Financial Institution Name: Shinhan Bank America
    Location: 330 5th Avenue, New York, NY USA

    This questionnaire acts as an aid to firms conducting due diligence and should not be relied on exclusively or excessively. Firms may use this questionnaire alongside their own policies and procedures in order to provide a basis for conducting client due diligence in a manner consistent with the risk profile presented by the client. The responsibility for ensuring adequate due diligence, which may include independent verification or follow up of the answers and documents provided, remains the responsibility of the firm using this questionnaire

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    1The four payment message standards to be observed are: i) FIs should not omit, delete, or alter information in payment messages or orders for the purpose of avoiding detection of that information by any other FI in the payment process; ii) FIs should not use any particular payment message for the purpose of avoiding detection of information by any other FI in the payment process; iii) Subject to applicable laws, FIs should cooperate as fully as practicable with other FIs in the payment process when requesting to provide information about the parties involved; and (iv) FIs should strongly encourage their correspondent banks to observe these principles. Source: http://www.wolfsberg-principles.com/pdf/standards/Wolfsberg_NYCH_Statement_on_Payment_Message_Standards_(2007).pdf

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    Name: Micah T. Hallock
    Title: Senior Vice President & Compliance Officer
    Signature:
    Date:
    The Wolfsberg Group consists of the following leading international financial institutions: Banco Santander, Bank of Tokyo-Mitsubishi UFJ, Barclays, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JP Morgan Chase, Société Générale and UBS which aim to develop financial services industry standards, and related products, for Know Your Customer, Anti-Money Laundering and Counter Terrorist Financing policies.