Africa-Press – Angola. The National Bank of Angola (BNA) has instituted sanctions against the Millennium Atlântico, Comércio e Indústria and Banco Sol banks, for having violated the rules for the protection of consumers of financial products and services, internal control and the prevention and fight against money laundering of capitals.
According to the publication of the BNA on Thursday, Banco Millennium Atlântico (BMA) failed to comply with the duty to provide information and assistance provided for by law, in relation to the relationships established with its customers, contrary to the provisions of Law n.o 14 /21, of 19 May, Law on the General Regime of Financial Institutions (LRGIF).
Additionally, this commercial bank violated the 72-hour deadline, issued by the Central Bank, for the return of late payment interest unduly charged to the claimant, as well as disobeyed the clauses of the Leasing Agreement, entered into with the customer, which culminated in the unilateral restructuring of the said contract.
BCI transgressions
As for BCI, the BNA clarifies that there was a failure to comply with the procedures for identifying the origin and entry of currency into the country, violating, among other legal provisions, Law no. Combating Money Laundering, Financing of Terrorism and Proliferation of Weapons of Mass Destruction.
Among the infractions of this bank, there is also the inadequate parameterization of the computer application in use in this institution, as there is no interconnection with the customer’s risk matrix, as well as risk management and mitigation.
BCI’s non-compliance also includes irregularities in the identification of customers and lack of justification for the origin and destination of the funds.
sun bench
This bank registered irregularities in the “Know Your Customer” (KYC) and “Customer Due Diligence” (CDD) process for customers, in violation of the provisions of the Money Laundering Law.
Inadequate parameterization and lack of interconnection between the “ARGUS-AML” computer application and the “AS400” tool were also found, as well as non-compliance with the rules for monitoring customers and transactions.
It was also noted irregularities in the identification of customers and the lack of justification of the origin and destination of funds from exchange operations carried out.
In view of this scenario, and with a view to deterring said conduct, the BNA determined the application of pecuniary sanctions to the offending banking financial institutions, as well as the disclosure of the decisions issued in the context of the respective sanctioning processes, aiming at general and special prevention, as well as the protection of the Financial System.
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