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Finext Eastern Bank’s compliance program is robustly designed to identify and control the risk of compliance failure that could result in financial and reputational damage to FEB or to meet and adhere to regulatory requirements and standards.
The role of Compliance is to identify, assess, advise on, communicate, monitor, and report on FEB’s compliance with regulatory requirements. Policies and procedures for effective compliance are based on the Offshore Banking Act 1996 of the Commonwealth of Dominica in addition to regulations found in (including subsequent amendments):
Anti-Money Laundering and Suppression of Terrorist Financing Code of Practice, 2014, SRO 10 of 2014
Money Laundering (Prevention) Act 8 of 2011
Money Laundering (Prevention) Regulations S.R.O. 4 of 2013
Suppression of the Financing of Terrorism Act 3 of 2003
Proceeds of Crime SRO 10 of 2014
Financial Services Unit Act 18 of 2008
Offshore Banking Act 1996 & Amendments
FEB takes regulatory compliance with paramount importance. Our robust measures and policies are reviewed quarterly and monitored to ensure FEB is a diligent and responsible member of the global financial services community.