Our position
Prime Wealth Corporation Bank has zero tolerance for financial crime. We would rather lose business than process a transaction we cannot stand behind.
Our obligations here are set by law and are not negotiable commercially. They apply to every customer, every product and every transaction, and they continue for the life of the relationship — not only at onboarding.
The framework is owned by the board, implemented by a dedicated compliance function that is independent of the business lines, and tested by internal audit and external assessors.
The control framework
Customer due diligence
We identify and verify every customer, and for entities we identify the directors, authorised signatories and ultimate beneficial owners.
Screening
Customers, counterparties and payments are screened against sanctions lists, politically-exposed-person data and adverse media, at onboarding and continuously thereafter.
Transaction monitoring
Activity is monitored automatically against expected behaviour. Alerts are investigated by trained analysts, not closed by the system.
Suspicious activity reporting
Where suspicion arises we report to the competent financial intelligence unit within the required timeframe.
Record keeping
Identification records and transaction data are retained for the statutory period after the relationship ends.
Training and culture
All staff complete financial crime training on joining and annually, with enhanced training for higher-risk roles.
A risk-based approach
We calibrate the depth of due diligence to the risk presented. Most customers experience the standard process and nothing more.
| Risk level | What it means in practice |
|---|---|
| Standard | Identity and address verification, tax residency, and the purpose of the relationship. Periodic refresh. |
| Enhanced | Additional evidence of source of funds and source of wealth, senior approval to onboard, and more frequent review. Applied to higher-risk sectors, complex structures, politically exposed persons and higher-risk jurisdictions. |
| Prohibited | Relationships we will not enter at all — including anyone subject to sanctions, shell banks, and activity we cannot lawfully support. |
Risk ratings are reviewed on a schedule and whenever a trigger event occurs, such as a change of ownership, a change of country, or unusual activity.
What we may ask you for
Being asked a question about a payment is routine and is not an accusation. Answering promptly and clearly is normally the end of it.
- Identity documents and proof of address, refreshed periodically as records expire.
- Your tax residency and tax identification number.
- The purpose of an account or a particular payment.
- Evidence of the source of funds for a specific transaction — for example a sale contract, an invoice or a payslip.
- Evidence of the source of wealth where the overall relationship warrants it.
- For businesses: ownership structure, expected turnover, main counterparties and trading countries.
If we cannot obtain what we need
Where required information is not provided we may be unable to execute a payment, and in some cases may have to restrict or exit the relationship. This is a legal constraint on us rather than a commercial choice.
Sanctions
We comply with the sanctions regimes applicable to us and to the currencies and correspondent banks we use. Because international payments pass through other institutions, a payment may also be subject to the sanctions rules of those parties.
- Payments involving sanctioned persons, entities, vessels, goods or jurisdictions will be blocked or rejected.
- Sanctioned funds may have to be frozen and reported, and cannot simply be returned on request.
- Screening is automated and applies to names, addresses, payment references and free-text fields — which is why accurate payment details matter.
- A payment may be delayed while a possible match is investigated. Most are false positives resolved quickly.
Why we sometimes cannot explain
Where a restriction relates to a suspicion report or a sanctions matter, law may prohibit us from telling you the reason or the timescale. That constraint is on us and is not a judgement about you.
Bribery, corruption and tax evasion
We prohibit the giving or receiving of bribes, facilitation payments and improper inducements, in any form and in any jurisdiction. Gifts and hospitality are governed by a registered policy with defined thresholds and approvals.
We also maintain procedures to prevent the facilitation of tax evasion by anyone acting for or on behalf of the institution, including staff, agents and intermediaries.
Correspondent banking and due diligence requests
Financial institutions conducting due diligence on Prime Wealth Corporation Bank may request our standard financial crime documentation, including our AML policy summary, ownership and control information, and completed industry due diligence questionnaires.
Requests should be sent on institutional letterhead using the email button on our contact page, identifying the requesting entity and the purpose. We do not release this documentation to unverified requesters.
What we ask of you
- 1Keep your details current — particularly address, tax residency and, for businesses, ownership and signatories.
- 2Tell us before your circumstances change materially, rather than after.
- 3Use your account for your own affairs. Never allow anyone else to route money through it, however plausible the explanation.
- 4Respond promptly and completely to information requests.
- 5Report anything suspicious to us immediately.
Money mule warning
If someone offers to pay you for receiving and forwarding money through your account, it is money laundering — regardless of how it is described. It carries criminal liability for you personally, and it will result in closure of the account.
Documents you may also need
Regulatory Information
How Prime Wealth Corporation Bank is constituted and supervised, how client money is treated, and the protections that apply to your deposits.
Legal & RegulatoryPrivacy Statement
What personal data Prime Wealth Corporation Bank collects, why we need it, who we share it with, how long we keep it, and the rights you have over it.
GovernanceReport Misconduct
A confidential channel for reporting suspected wrongdoing at Prime Wealth Corporation Bank — open to staff, customers, suppliers and anyone else, with protection against retaliation.
This document was last updated on 1 August 2026. We publish the current version here at all times; superseded versions are available on request.
If anything on this page is unclear, write to us and we will explain it.