Signature Bank Limited commits to the campaign against money laundering, terrorist financing, proliferation financing and all other forms of financial crime, and requires compliance from customers, partners, vendors, employees, the Board and management.
The bank's AML, CFT and CPF policies are formulated in compliance with the CBN AML/CFT/CPF Regulations 2022, the Money Laundering (Prevention and Prohibition) Act 2022, the Proceeds of Crime (Recovery and Management) Act 2022, the Terrorism (Prevention and Prohibition) Act 2022, the Banks and Other Financial Institutions Act 2020 and the CBN Customer Due Diligence Regulations 2023, amongst others.
Know Your Customer is established at onboarding, Enhanced Due Diligence is conducted for all high-risk accounts, and Simplified Due Diligence is carried out for all other accounts.