BNP Paribas complies with the legal obligations stemming from French, European, and American regulations relating to the fight against money laundering and terrorist financing, as well as those relating to financial sanctions and embargos. The Group is strongly committed to implementing internal control systems that meet or exceed the standards of the banking sector.

Knowledge of the Customer is at the Heart of the Group’s Concerns

The activity of the bank is based on a good understanding of the customer in order to determine the origin of funds by checking the consistency of banking and financial transactions with the customer's business, financial situation and heritage with the assistance of the KYC* (Know Your Client).

Fight against Money Laundering and Terrorist Financing

The exploitation of the financial system to launder funds of criminal origins, as well as the provision of funds for terrorist purposes, may threaten its proper functioning, reputation and stability.

  • BNP Paribas has adopted the following guiding principles:

    • Applying strictly the local regulations
    • Implementing the norms issued by the BNP Paribas Group rules in every Business and country
  • BNP Paribas has implemented a  framework to fight against money laundering and terrorist financing (policies and procedures, risk classification, set of controls procedures, tools for identification and monitoring ) in response to a constantly changing environment
  • BNP Paribas has a  strong policy in relating  to  training of its employees on the fight against money laundering and terrorist financing
  • BNP Paribas requires the financial  institutions with which it maintains business relationships to provide documents similar to those that it is committed to publish itself : Patriot ActAnti-money Laundering Questionnaire, Anti-money Laundering Commitments, Articles of Association.

Compliance with Financial Embargoes and Sanctions

The international community is sometimes brought, for various reasons often related to the internal situation of the country (such as a state of war), to take commercial and financial measures against certain countries. BNP Paribas scrupulously respects these measures by:

  • Applying everywhere both French and European Union  sanction Programs Applying in all circumstances when it is necessary the U.S. sanction programs
  • Using always the stricter rules, among local, EU and U.S. rules

Prevention of Corruption

The Group has established a specific Financial Security policy, which includes new legal developments and obligations to monitor transactions to prevent the risk of corruption.

*KYC (Know Your Client) is at the heart of the banking industry. KYC means establishing procedures to verify the origin of funds and the validity of transactions, which must be in line with knowledge of the customer. It must also verify “unusual” or “atypical” transactions.