This global certification of AML standards has been developed in response to requests for confirmation of AML standards across RBC. This letter of comfort is intended to demonstrate that the various RBC business units are guided by enterprise-wide anti-money laundering and related policies in setting their own RBC policies and procedures. Financial Institutions are encouraged to rely on this website posting as opposed to requesting individual certification.
In response to the USA Patriot Act and final rules issued by the U.S Department of Treasury, the Royal Bank of Canada has executed a global certification applicable to all correspondent accounts maintained for it by Covered Financial Institutions. The Royal Bank of Canada has posted such certification on its website to allow every Covered Financial Institution needing such Certification to access it directly from here instead of requesting an individual certificate.
In order to comply with Canadian regulations and regulatory expectations, RBC has implemented processes to keep its client information up to date in its correspondent banking business. One component of the information RBC collects is its details in respect of our bank clients’ AML program, due diligence processes, and ownership structure. We have posted the following questionnaire, and ownership document, in order to achieve this goal within short timelines. Those banks which are required to provide to RBC this information, as well as any other relevant information, have been informed of this requirement.
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