Dresdner Bank - Commerzbank International SA

Dresdner Bank Luxembourg S.A. Annual Report 2008
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Compliance: ‘Know your customer’ as integral component of client management
The varied tasks of the AML / Compliance division include ensuring the bank’s adherence to the prescribed
statutory regulations on the observance of mandatory statutory and regulatory norms combating
money laundering and preventing the financing of terrorism and other criminal activities, as well as the
observance of sanctions. In previous years the bank has always fulfilled its duty of regular training on
this subject in attendance-based training programmes, however in 2008, the bank conducted for the first
time a computer-based training programme for all employees with a subsequent online test.
Furthermore, the AML / Compliance division improved its mechanisms for the consolidation and positive
development of our reputation both within the financial centre Luxembourg and in our international
target markets. So our aim is the protection of our clients and employees through the attaining and maintaining
of high ethical standards. This is guaranteed through the imposition of strict rules on handling
conflicts of interest and preventing abuse and market manipulation as well as through relevant control
measures. This also includes the supervision and implementation of the regulations of the MiFID
directive.
The Compliance division has thus emerged as an integral component of our client management process.
From the initiation of client relations to the day-to-day management of client services, the Compliance
division supports and supervises the bank’s client relation managers.
Measures such as the ‘client acceptance committee’ or detailed requirements for ‘client due diligence’
are indispensable for a risk-reducing and therefore beneficial business policies at the bank. At the same
time, the integrity and respectability of the financial centre of Luxembourg are supported.