In the area of financial security, Crédit Agricole Group pays the greatest attention to the prevention of money laundering, to the fight against the financing of terrorism, to the enforcement of asset freezes and embargoes, and to the observance of sanctions on blacklisted countries. The Group Compliance department is responsible for the implementation of measures designed to prevent money laundering and to fight the financing of terrorism for all of the Group.
Procedures take into acccount the new European requirements for the prevention of the use of the financial system for money laundering and the financing of terrorism.
STRUGGLING AGAINST MONEY LAUNDERING
Perpetual vigilance against money laundering: from the beginning of the business relationship until the end of the collaboration.
Money laundering risks have been mapped for all entities and business lines of the Group as part of the creation of a vigilance system adapted to the identified risk level:
- When entering into any new client relationship: the required checks of the client’s identifying information constitute an initial filter; it is supported by research using specialised databases.
- For the length of each business relationship: appropriate vigilance coherent with the level of identified risks is exercised. The Group’s employees are assisted in this task by computer tools for profiling clients and detecting unusual transactions.
STRUGGLING AGAINST THE FINANCING OF TERRORISM
The fight against the financing of terrorism involves the constant screening of client files, both when entering into and during the course of business relationships, using sanctions lists and through the monitoring of international transactions.