Key Business Information Requirement for Business Account Opening

Client Due Diligence (CDD) forms an integral part of a global effort to combat money laundering, terrorist financing and fraudulent activities. Accordingly, CDD measures that the Bank implements can help ensure our client’s account is safe. Under this approach, the Bank will collect information at account opening, on a periodic basis, and from time to time as required to identify our clients and develop an understanding of their normal and expected banking activities. The more we know about our clients, the more the Bank can better protect them.

An indication of the typical business information requirements that the Bank collects is shown below:

    1. Company History (including when, how and source of capital to set up the company, relevant business experience, reason for setting up business)
    2. Company ownership structure
    3. Information about the company’s business nature, including:
      1. Principal place of operation and information on any branches / subsidiaries in other countries
      2. Key products/services, number of employees, anticipated annual sales turnover and anticipated net profit
      3. Major import and export countries
      4. Major suppliers & buyers/ Source of fund and anticipated banking activities/ Source of income
      5. Information on direct or indirect dealings or ownership interests in countries such as Iran, Syria, North Korea, Sudan, Cuba or regions such as Crimea or Sevastopol

  • In addition to the above, we may collect more information as and when required.


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    Speaking Up

    Standard Chartered Bank (the “Bank”) is committed to maintaining a culture of the highest ethics and integrity, and in compliance with all applicable law, regulation and internal policy. As part of this commitment, the Bank has a ‘Speaking Up’ programme through which genuine concerns in this regard can be raised. Members of the public can securely raise Speaking Up concerns through this hyperlink, which is hosted on behalf of the Bank by a third party ‘InTouch’. Examples of concerns that can be raised through this website are concerns that relate to accounting, internal accounting controls or auditing matters and concerns relating to bribery or banking and financial crime. Concerns received will be forwarded to the Bank’s investigations team for review. Complaints relating to SCB banking services should not be raised through this site in the first instance, but through the SCB branch network, contact centres, Relationship Managers or the ‘Contact Us’ webpage.

    Disclaimer

    Please note that this hyperlink will bring to you to another website on the Internet, which is operated by InTouch, an independent company appointed by the Bank to support its Speaking Up programme. Please be mindful that when you click on the link and open a new window in your browser, you will be subject to the additional terms of use of the website that you are going to visit.

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