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Anti-Money Laundering Policy

BBP Bandenia PLC is subjected by the United Kingdom Law for Anti-Money Laundering Measures. The legislation and regulations behind the UK anti-money laundering are, The Proceeds of Crime Act 2002 (as amended by the Crime and Courts Act 2013 and the Serious Crime Act 2015), The Money Laundering Regulations 2007, The Terrorism Act 2000 ans The Terrorism Act 2006 and The Terrorism Act 2000 and Proceeds of Crime Act 2002 (Amendment Regulations 2007), the Law was promulgated in 2013 based on the standards of the European Union on this matter.

BBP Bandenia PLC has implemented measures and proceedings in order to prevent and to detect Money Laundering, and have the licensed under The Money Laundering Regulations. These measures are in line with the recommendations of FATF.

We are supervised and authorised by the Prudential Regulation Authority and is regulated by the Financial Conduct Authority for this activities. In relation to our consumer credit business, BBP Bandenia PLC is licensed and regulated by the Financial Conduct Authority (FCA) , in relation with the Data Protection BBP Bandenia PLC  is registered in the Information Commissioners Office under the Data Protection Act 1998, DPA license number ZA077830, AML register number 4979, and FACTA Foreign Financial Institution (FFI) number 940BA4.99999.SL.826; BBP Bandenia PLC will not be protected by the Financial Services Compensation Scheme.

BBP Bandenia PLC Branch in Commonwealth of Dominica is regulated and authorised to act as a trusted by the Financial Services Unit (F.S.U.) of The Commonwealth of Dominica and is an incorporated company licensed to conduct Investment Services business by the Financial Services Unit (F.S.U.) of The Commonwealth of Dominica. BBP Bandenia PLC is an enrolled tied insurance intermediary of Bandenia Insurance INC is authorized by the Financial Services Unit (F.S.U.) to carry on long term business of insurance under The Insurance Act 2012.

BBP Bandenia PLC is an International financial institution incorporated in United Kingdom, BBP Bandenia Plc has been licensed by The Financial Conduct Authority (F.C.A.) United Kingdom, with an authorized capital full paid of GBP£530.000.000,00. BBP Bandenia PLC Branch in Commonwealth of Dominica  has been licensed by the Government of the Commonwealth of Dominica to conduct International Trusted Business, Money Services Business and Insurance Brokers Business and It is authorized and regulated by supervision of The Financial Services Unit (F.S.U.) dependant of the Minister of Finance of the Commonwealth of Dominica, the Money Laundering Supervisory Authority (MLSA) as the responsible for enforcing Anti Money Laundering (AML) policies for all financial institutions doing business in Dominica. The Dominica’s Financial Intelligence Unit (FIU) is the Central Authority for AML reporting. It operates under the Eastern Caribbean Central Bank (ECCB) and the Caribbean Financial Action Task Force (CFATF) guidelines.

We have implemented

  • Anti-Money Laundering Policies
  • Anti-Money Laundering Internal Procedures
  • Written Internal Procedures
  • Specific Employee-Training Programs on this matter

Related to our Customers

  • Recognising the True Identity of our Customers
  • Keeping Customers Operational Documentation for at least 6 years
  • Monitoring and Reporting Suspicious Activities and Transactions to the Relevant Authorities.