CIMB says it adheres to robust due diligence process

23 Sep 2020 / 08:37 H.

KUALA LUMPUR: CIMB Group Holdings Bhd, one of the banks reportedly mentioned in a leaked document of the US Treasury Department’s Financial Crimes Enforcement Network (FinCEN), said it is diligent in filing Suspicious Activity Reports when appropriate and adheres to a robust due diligence process in a secured and controlled environment.

“CIMB Group takes its role in protecting the integrity of the global financial system seriously and complies strictly to corporate governance laws and regulations as stated in the Group’s Anti-Money Laundering/Counter Financing of Terrorism Policy and Procedures,” it said in response to a recent news item on FinCEN document leaks concerning numerous banks in Malaysia and where CIMB was mentioned.

The report, citing the purported document, said a total of 23 transactions involving US$18.26 million that flowed to or from banks in Malaysia between 2010 and 2016 had been flagged by US-based banks as suspicious.-Bernama

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