SEABANK STATEMENT ON ANTI-MONEY LAUDERING, COUNTER TERRORISM FINANCING AND COUNTER THE PROLIFERATION FINANCING OF WEAPONS OF MASS DESTRUCTION

AML, CFT, CPFWMD compliance are comprehensively and synchronously implemented according to the followings:

1. Establishing an organizational structure according to the three-line of defense model in line with the international standards.
2. Implementing the bank-wide risk assessment on a regular basis for allocating resources and developing effective risk prevention and control measures appropriate to the level of risk.
3. Developing policies and procedures on AML, CTF, CPFWMD in compliance with Vietnam’s applicable laws & regulations and in accordance with international best practices, including: Customer Acceptance Policy; KYC and Customer Due Diligence; Reviewing, Detecting and Handling suspicious transactions; Customer and Transaction Screening; and Reporting.
4. SeABank signed a cooperation agreement with TESS and MIU (Australia) joint venture to implement the AML System (Coral ISEM) according to international standards and apply on the bank-wide level.
5. Strengthening comprehensive trainings on essential knowledge and skills for employees to be able to identify, manage and mitigate the risks related to money laundering, terrorism financing and proliferation financing of weapons of mass destruction.

SeABank commits to comply with the highest standards on AML, CTF, CPFWMD of Vietnam legal requirements and international practices, to strengthen appropriate methods to detect and prevent Money Laundering, Terrorism Financing and Proliferation Financing of Weapons of Mass Destruction risks effectively.

SeABank commits to implement the appropriate measures to detect, prevent and protect customers, business partners and employees against the risks related to money laundering, terrorism financing and proliferation financing of weapons of mass destruction.

For more information, please contact with the nearest Branch/Transaction Office of SeABank for our support.

SeABank Wolfsberg Questionnaire_2023. 

SEABANK STATEMENT ON FATCA COMPLIANCE

The Foreig Account Tax Compliance Act (FATCA) was passed by the US Government in 2010, which took effect from 01 July 2014. The main purpose of the Act is to prevent tax evasion by US Individuals/Entities through financial accounts held at non-US financial institutions (FFIs).

 

On April 01, 2016 the Vietnam Government and the US Government  signed an Intergovernmental Agreement to implement FATCA Model 1B (IGA 1B Agreement) in Vietnam. IGA 1B Agreement has been effective since 07 July 2016. Under the requirements of the IGA 1B Agreement, SeABank will perform due diligence and annually report to the State Bank of Vietnam certain information related to the financial accounts held directly or indirectly by reportable US individuals and/or US entities.

 

Following SBV official letter No. 1818/TTGSNH7 dated June 23rd 2014 on the implementation of FATCA, SeABank has registered with the Internal Revenue Service (IRS) to be a compliant entity with FATCA and was approved and issued the Global Intermediary Identification Number (GIIN) - GBWI8R.99999.SL.704.

 

SeABank has developed the internal policies and procedures, upgrade the system to identify whether the customers are subjects to the US tax or having the US indicia to report the required information to State Bank of Vietnam.

 

In case a customer has one of the signs of being a US citizen or a US resident, SeABank will collect additional information from the customer at forms W9 and W8-BEN, W8-BEN-E and/or other documents proving tax residency (to identify whether the customer is a US taxpayer).

 

FATCA forms and related supporting documents should be completed, properly signed and sent to SeABank. Please note that the information collected by SeABank will solely be used for the purpose of reporting to the State Bank of Vietnam in order to fully comply with the IGA 1B Agreement and related Vietnamese regulations and will not be used for any other purposes.

 

SeABank commits to fully comply with all the FATCA requirements as prescribed in IGA1 between Vietnamese government and US government.

 

For more information on FATCA, please visit the website of the IRS: www.irs.gov/FATCA or contact with your tax consultants for supporting.