Above all, new international agreements involving a large number of countries have been coming into force recently in order to assist tax authorities to deter and detect tax evasion especially relating to assets held in countries where the owner is not resident for tax purposes.
These international agreements, when implemented, create a legal obligation requiring all financial institutions, including us, to:
- -obtain extra information from customers;
- -identify a possible connection, for tax purposes, with another country / other countries;
- -establish the tax residence of all account holders; and
- -report the financial account information for identified customers to the relevant tax authorities.
You can select the following links to read additional compliance information:
AML Policy Statement (PDF, 303KB)
Statement on bribery and corruption (PDF, 328KB)