Within the scope of the “Compliance Program”, created as per “The Law Regarding the Prevention of Laundering of Crime Revenues” numbered 5549, and the sub-regulations related thereto, Anadolubank’s Legal Compliance Policy has been established to determine Anadolubank A.Ş.’s compliance process with the liabilities arising from said law and regulations, and to determine the practice principles and strategies devoted to this process; to identify the risks that the Bank may be exposed to during its operations on the said regulation basis, and it includes the principles and practices determining such risks. Application of the rules framed under the related law and regulations determines its processing and responsible parties, and it is applied at Anadolubank A.Ş. Head Office and Branches.
● AML Policy Statement
● Procedure of Prevention of Laundering Proceeds of Crime
● Duly signed AML&KYC Questionnaire
● AML & KYC Questionnaire
● Banking License
● USA Patriot Act Certification
● Wolfsberg Questionnaire
Information on the Foreign Accounts Tax Compliance Act (FATCA) and Common Reporting Standards (CRS)
Dear Customers,
FATCA “Agreement between the Government of the United States of America and the Government of the Republic of Turkey to Improve International Tax Compliance through Enhanced Exchange of Information” signed on 29/07/2015 in Ankara,
CRS (“The Standard for Automatic Exchange of Financial Account Information”, which was developed in 2014 by the Organization for Economic Cooperation and Development (OECD), and to which Turkey is a party),
It stipulates that certain account information of individuals and legal entities, who have accounts at financial institutions in Turkey and match the following criteria, be regularly and periodically shared with the revenue offices of the countries that are party to the agreements stated above, for tax audit purposes.
In light of this, Anadolubank A.Ş. determines customer identification criteria according to the terms of FATCA and CRS. The identification process must determine whether a customer matching any of the following criteria has FATCA liability.
A. For Individuals;
● Being citizen of a country other than Turkey
● Place of birth is a country other than Turkey
● Possession of a US Green Card
● Existence of double citizenship status
● Existence of tax or social security number of other countries
● Existence of residency / contact address / phone number in a country other than Turkey
● Existence of money transfer, via regular payment order, to a country other than Turkey
B. For Legal Entities;
Origin/place of establishment is a country other than Turkey
Shareholders who hold 25% or more of the company’s shares qualify as being from other countries according to the criteria listed in article “A”
Existence of an establishment/contact address/phone number in a country other than Turkey
The institution is a resident of a non-participant country outside of Turkey and managed by an investment institution established in the participant country.
What is expected within the scope of the regulation?
Customers who are taxpayers in the USA (as stated above; US citizen, resident in the USA, “Green Card” holder, etc.), and customers who are taxpayers outside of Turkey, are required to declare this status. Furthermore, customers who are identified as having the aforesaid connections, yet declare that they are not taxpayers within the scope of FATCA and CRS, are requested to sign a form to document such declaration, supporting it with appropriate additional documents when required. Accurate and prompt sharing by customers of the documents requested in full is vital in order to avert possible sanctions applicable to our customers by the authorized institutions due to faulty or missing information/document sharing.
Further to the act regulating the mutual exchange of information, signed by and between the USA and Turkey under FATCA regulations, any individual or legal entity who do not provide the information and documents stipulated for the identification of whether that individual or legal entity is a taxpayer in the USA, and who fail to declare their liability status, may be subject to withholding tax at a rate of 30% by the official institutions authorized to impose withholding tax, over their US-originated revenues, on behalf of the USA.
As part of FATCA and CRS, the related customer’s identity information (i.e. Name Surname, Address, the country where they are taxpayer or their Tax Identity Number in that company, and financial information (for example, Customer Number, the total value of customer’s assets at our Bank)) shall be notified to the Republic of Turkey Finance Ministry General Directorate of Revenue.
General, detailed information regarding FATCA can be found on the US Internal Revenue Service (IRS) website, http://www.irs.gov. For detailed information about CRS, please visit the OECD’s website http://www.oecd.org/tax/automatic-exchange/common-reporting-standard/. It is recommended that you contact a professional tax consultant for more detailed information and recommendations if you match the FATCA and CRS taxation criteria.
NOTE: This page, which is prepared for our customers in connection with FATCA and CRS, is for information purposes only, and it will be updated based on regulations, announcements and guidelines published and to be published by the authorized institutions (Republic of Turkey General Directorate of Revenue, US Internal Revenue Service (IRS), and OECD).
Sincerely,
Our Anadolubank intermediary identification number (GIIN):
Anadolubank A.Ş. has been registered at the US Internal Revenue Service as “Reporting Model 1 FFI” within the scope of FATCA – Model 1 IGA agreement, executed between Turkey and the USA.
Our intermediary identification number (GIIN) is CB2V5B.00000.LE.792 and Form type is W-8 BEN-E.
Procedure of Prevention of Laundering Proceeds of Crime
