Financial security system

Crédit Agricole CIB has put in place a strong compliance programme to comply with international sanctions (embargoes, asset-freezing measures and sectoral sanctions).

 
The programme takes into account the international sanctions imposed by the United Nations, the European Union, France and the United States, and the local sanctions applying to each Group entity.

Crédit Agricole CIB also implements the policies of the Crédit Agricole S.A. Group.
 

Crédit Agricole CIB is firmly committed to contributing to the international efforts to combat money laundering and the financing of terrorism (AML/CFT). To that end, it has set up a comprehensive Financial Security programme based on: 

• International AML/CFT regulations and recommendations: 
  • The FATF Recommendations on Combating Money Laundering and the Financing of Terrorism and Proliferation adopted in February 2012 and regularly updated;
  • The 4th Directive 2015/849 and the 5th Directive 2018/843 of the European Union on the prevention of the use of the financial system for the purpose of money laundering or terrorist financing.
• The French Monetary and Financial Code.
• Guidelines issued by the European and French authorities (EBA, ACPR, etc.).
• The AML/CFT laws and regulations applicable in the jurisdictions in which Crédit Agricole CIB operates.
• Crédit Agricole CIB also follows the Crédit Agricole S.A. Group's policy.

The Financial Security programme implemented by Crédit Agricole CIB covers the fight against money laundering, terrorist financing and corruption, and compliance with international sanctions. 
It consists of a corpus of standards on:

• The Know Your Customer (KYC) implementing a risk-based approach;
• The monitoring of transactions in accordance with the applicable embargo and asset-freezing measures, the rules on transparency for transfers of funds, and for the purposes of combating money laundering and terrorist financing; 
• The enhanced review and reporting of suspicious transactions and activities to the Financial Intelligence Unit (TRACFIN in France);
• Employee training;
• The monitoring of compliance with the procedures and measures introduced to meet the above-mentioned obligations;
• Documentation and storing of KYC files and transaction documents;
• Information sharing.

Crédit Agricole CIB has set up a dedicated governance system and an appropriate internal control framework to ensure compliance with its AML/CFT obligations and applicable international sanctions programmes.

Learn more on our dedicated page on the fight against corruption. 

• WOLFSBERG questionnaire

Below is a link to the Wolfsberg questionnaire pertaining to the system implemented at the Crédit Agricole Group.

• US PATRIOT ACT

Crédit Agricole CACIB complies with the provisions of the US Treasury’s Patriot Act, which applies to all non-US banks that have a correspondent account with a US financial institution.

• EXTRACT FROM CREDIT AGRICOLE CIB'S 2016 REGISTRATION DOCUMENT REGARDING OFAC

In October 2015, Crédit Agricole CIB and its parent company Crédit Agricole S.A. (CASA) reached agreements with the US Federal and New York State authorities as part of an investigation into USD-denominated transactions with countries subject to US economic sanctions. The events covered by this agreement took place between 2003 and 2008.