The Anti-Money Laundering (AML) / Customer Due Diligence (CDD) functionality currently available in CitiDirect BE® now covers the following countries:
Bangladesh
New Zealand
Thailand
Vietnam
What does this mean for our Clients?
With reference to the local regulatory requirements in Bangladesh, New Zealand, Thailand and Vietnam, individuals who are authorized to give instructions through internet banking for the movement of funds or assets (hereafter called Instruction Approver or AML User) are required to provide high quality certified true copy of identity documents to their bank(s) for identity verification purposes. Instruction Approver includes CitiDirect Authorizer or the last person in the authorization flow when there’s no Authorizer in the flow (Releasers are excluded).
For Vietnam, Instruction Approver is additionally required to be pre-registered with Citibank Vietnam before he can effect a payment from Vietnam account(s).
Failure to be complied with regulatory requirements within a country defined timeframe may result in being revoked from ability to effect payments from respective country account. Please refer to the country FAQ for the specific country deadlines.
Within CitiDirect BE®, an additional control mechanism will be put in place where a regulatory warning will be flagged to the Security Managers upon their submission of an on-line entitlement request (i.e. creation of a new user and/or change entitlement rights). AML user’s function to effect payment from corresponding AML country account will be activated only when they meet all AML country requirements.
For more information on country AML requirements, please refer to the Frequently Asked Questions link below for each country or contact your local CitiService representative.
Frequent Asked Questions
Bangladesh: Click here
New Zealand: Click here
Thailand: Click here
Vietnam: Click here
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