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Anti-Money Laundering

Truist Financial Corporation is a bank holding company headquartered in Charlotte, North Carolina, United States of America.  Truist Financial Corporation and Truist Bank (a wholly owned subsidiary of Truist Financial Corporation) (collectively referred herein as “Truist”) are supervised by, among others:  the Board of Governors of the Federal Reserve System; The Federal Deposit Insurance Corporation; the North Carolina Office of the Commissioner of Banks; the Securities and Exchange Commission; the Commodity Futures Trading Commission; and the Financial Industry Regulatory Authority.  Truist Financial Corporation is publicly owned and listed on the New York Stock Exchange (symbol: TFC).

Truist has established and continues to maintain an enterprise Anti-Money Laundering / Countering the Financing of Terrorism (“AML/CFT”) Program designed to ensure, that at a minimum, Truist and all of its businesses, are in compliance with all applicable laws, rules and regulations related to anti-money laundering and anti-terrorist financing initiatives.  Among other relevant laws, the AML/CFT Program ensures that Truist complies with all applicable provisions of the Bank Secrecy Act, as amended by the USA PATRIOT Act.

Specifically, the Truist AML/CFT Program requires that Truist maintains a compliance program that provides for:

  • A system of internal controls to ensure that appropriate due diligence, and when necessary, enhanced due diligence, including obtaining and maintaining appropriate documentation, is conducted at account opening and updated, as necessary, through the course of the customer relationship;
     
  • The designation of an AML/CFT Compliance Officer, or other appropriate personnel, responsible for coordinating and monitoring day-to-day compliance with the AML/CFT Program and applicable laws, rules and regulations;
     
  • Recordkeeping and reporting practices in accordance with the AML/CFT Program and applicable laws, rules and regulations;
     
  • Appropriate methods of monitoring transactions and account relationships to identify potentially suspicious activity;
     
  • Reporting of suspicious activity to governmental authorities in accordance with the AML/CFT Program and applicable laws, rules and regulations;
     
  • Training of appropriate personnel with regard to anti-money laundering and anti-terrorist financing issues and their responsibilities for compliance; and
     
  • Independent testing to ensure that the controls required by the AML/CFT Program and applicable laws, rules and regulations have been implemented and continue to be appropriately maintained.
     

Truist is committed to conducting business in conformity with the highest standards in adherence to all applicable economic and financial sanctions administered by the United Stated Department of the Treasury’s Office of Foreign Assets Control (OFAC).  Truist recognizes the importance of economic and financial sanctions administered by OFAC as a critical component in denying use of the financial system to malign actors.  Truist maintains a risk-based OFAC compliance program to fulfill its legal and regulatory obligations.  Truist takes all necessary and reasonable steps to ensure that it does not engage in any activities with any individuals, entities, organizations or countries (or geographic areas within a country) prohibited by OFAC, or the government of a jurisdiction in which Truist may operate.

As Part of the Truist Anti-Money Laundering Program, Truist provides a Wolfsberg Questionnaire and a PATRIOT Act Certification, as required by the USA PATRIOT Act.

Truist PATRIOT Act Certification (PDF)

Truist Wolfsberg Group Questionnaire (PDF)

Truist AML OFAC Representation Letter (PDF)