22/09/2020
Statement by PPF banka
In late September, both the international and Czech media published articles based on documents unlawfully leaked from the database of the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN). Information that purportedly concerns PPF banka appears in these articles.
Unfortunately,
Czech laws and European regulations do not allow for the bank to publish or
comment on specific transactions or name the bank’s clients. Therefore we are also
unable to comment on the findings contained in these articles.
PPF banka strictly follows the anti-money laundering (AML) regulations. We
thoroughly assess clients based on the strictly specified risk factors under international
AML standards. Where we identify a high-risk client, we adopt additional
measures and may notify the competent authorities of suspicious transactions. Therefore,
it cannot be ruled out that some cases, previously reported by PPF banka, are included
in FinCEN’s leaked documents.
Finally, our
regulator, the Czech National Bank, has never investigated or penalised PPF
banka for failing to follow the anti-money laundering and terrorism financing regulations.
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