Investor Presentaiton
CASE STUDY
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WHO WE BANK
1 ASIAN DEVELOPING NATION CUSTOMER ON-BOARDING ENHANCED DUE DILIGENCE
DUE DILIGENCE CONTROLS FOR NEW CUSTOMER ON-BOARDING
Context:
Demonstration of enhanced due diligence controls for on-boarding. Steps undertaken to on-board a new customer in April 2019
included:
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Standard on-boarding steps such as sanctions screening and KYC;
Assessment of actual or potential linkages (ownership, supplier, dealer) to Government and Military entities;
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Open source scan to identify any potential adverse reports;
Detailed, formal ESG commitments from the customer; and
Escalation and approval from senior stakeholders outside of the country.
Outcome:
As part of enhanced due diligence, a media scan identified NGO allegations of inappropriate work practices. Subsequent research and
customer discussion obtained documentary evidence of the customers' policies and processes to monitor and manage work practices.
Also, meetings were held with the customer including their local CEO, local Head of Sustainability and Global Head of Group Finance.
It was concluded the customer was compliant with the relevant country's laws, the media report was inaccurate and the customer has
global and local processes and policies in place to identify and prevent inappropriate work practices. The customer acknowledged these
processes and policies, set out in detail in communication with the ANZ country head and affirmed by the customer's global
headquarters.
Relevant ESG target:
Improving our human rights due diligence processes.
ANZ
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