Fight against money laundering and the financing of terrorist activities (AML)**
Several initiatives were launched or continued through 2008 in order to enhance and reinforce the Group's resources dedicated to the prevention of money laundering and the fight against the financing of terrorism:
- Optimization of IT tools for file processing;
- Formal establishment of a new structure to optimise relations between all Group officers responsible for anti-money laundering and ensure a better degree of coordination between the Group’s business lines;
- Implementation of a new Group anti-money laundering directive throughout the international network;
- Participation in market think-tanks and working groups on the transposition of the 3rd European Directive;
- Reinforcement of KYC (Know Your Customer) procedures and procedures used in-establishing the identity of transaction beneficiaries;
- Participation in market initiatives to create a new training course in anti-money laundering and counter-terrorist financing. *
* Verified by Ernst & Young (see Statuory Auditors' Report ) ** As per our commitment under the Global Compact