The Crédit Agricole Group attaches considerable importance to preventing money laundering, combating terrorism financing and complying with international sanctions (asset freezing and embargoes).
The Group Compliance Department, and more specifically its Financial Security unit, is responsible across the Group for:
- implementing measures aimed at preventing money laundering and terrorism financing;
- ensuring compliance with international sanctions.
By updating its procedures and tools, the Crédit Agricole Group has taken into account the new requirements pertaining to the transposition into national law of the EU Directive of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (the “4th AML Directive”).
We have also enhanced our system to improve the quality of the know-your-customer (KYC) data that we collect, both at the beginning of and throughout the business relationship (ongoing supervision), and extend the supervisory measures already in place. Customer identification checks are now a first filter at the beginning of any relationship. This relies on knowledge of our customers and beneficial owners, supported by research conducted using databases or special lists. We carry out suitable and risk-appropriate oversight throughout the relationship. Group employees are assisted in this by software for profiling customers and detecting unusual transactions.
Combating terrorism financing and complying with international sanctions means we need to continually cross-check customer files against sanction lists and international transaction monitoring.
Based on risk assessment and regulatory changes, we are continually strengthening our overall AML/CFT and international sanction compliance system.
Wolfsberg 2022
Below is a link to the Wolfsberg questionnaire pertaining to the system that has been implemented at the Crédit Agricole Group:
U.S. Patriot Act 2022
The Crédit Agricole Group complies with the provisions of the US Treasury’s Patriot Act, which applies to all non-US banks that have a correspondent account with a US financial institution.
A copy of this certification is available below. This document can be used by any financial institution.