Compliance
Compliance is an important part of good corporate governance. NEOP Bank is committed to complying with relevant laws, regulations, and professional standards in each of the markets in which it operates, while actively protecting the integrity of the international financial system. We are equally committed to upholding our internal standards and values, as defined in NEOP Bank’s Code of Conduct, business principles, and operational policies.
The Executive Board of NEOP Bank is ultimately responsible for ensuring adequate compliance across the organization. Managing compliance risk and adhering to applicable laws, regulations, and standards in both personal and business conduct is the shared responsibility of every employee and contractor working for NEOP Bank. Regular training and updates are provided to our staff to maintain high awareness and proactively address emerging areas of concern.
Key international and European regulations applicable to NEOP Bank include global anti-money laundering frameworks and directives (such as AMLD and FATF standards), as well as key financial market and privacy regulations, including MiFID II, FATCA/CRS, GDPR, and MAD/MAR.
The Executive Board of NEOP Bank is ultimately responsible for ensuring adequate compliance across the organization. Managing compliance risk and adhering to applicable laws, regulations, and standards in both personal and business conduct is the shared responsibility of every employee and contractor working for NEOP Bank. Regular training and updates are provided to our staff to maintain high awareness and proactively address emerging areas of concern.
Key international and European regulations applicable to NEOP Bank include global anti-money laundering frameworks and directives (such as AMLD and FATF standards), as well as key financial market and privacy regulations, including MiFID II, FATCA/CRS, GDPR, and MAD/MAR.
Compliance topics
To enable a proper assessment of the risks involved in a customer relationship, NEOP Bank needs insight into clients’ backgrounds, their business activities, and operational profiles. It is also essential to understand why clients use specific products and to verify the origin of their funds and wealth.
NEOP Bank’s Client Due Diligence (CDD) process aims to safeguard our institution and the international financial system from integrity risks, actively preventing money laundering, terrorist financing, fraud, and reputational risk.
NEOP Bank’s Client Due Diligence (CDD) process aims to safeguard our institution and the international financial system from integrity risks, actively preventing money laundering, terrorist financing, fraud, and reputational risk.
NEOP Bank’s staff is obliged to report actual or suspected fraud or misconduct. We do not accept nor tolerate any instance of fraud, bribery, or corruption. Genuine concerns are handled fairly and investigated appropriately. Concerns may be reported anonymously in accordance with our Whistleblower Policy or our Complaints Procedure.
NEOP Bank strongly values the reputation and integrity of the bank and its employees. It supports and protects the reporting of wrongdoing. Since employees are usually the first to recognize wrongdoings, such as misconduct, fraud, or corruption, NEOP Bank promotes a “speak-up” culture and is committed to ensuring a climate of transparency in which employees can voice genuine concerns safely and without fear of reprisal.
NEOP Bank strongly values the reputation and integrity of the bank and its employees. It supports and protects the reporting of wrongdoing. Since employees are usually the first to recognize wrongdoings, such as misconduct, fraud, or corruption, NEOP Bank promotes a “speak-up” culture and is committed to ensuring a climate of transparency in which employees can voice genuine concerns safely and without fear of reprisal.
We have a strong Conflicts of Interest policy in order to ensure that any (potential) conflicts are identified in a timely manner and adequately managed. We prevent and manage conflicts by means of an internal control framework which includes policies and procedures as well as systems and controls.
NEOP Bank aims to be transparent about our position on tax. Activities, products, and transactions, including their primary purposes, must be reasonably explainable to our clients, tax authorities, and the general public. Tax minimization cannot be the sole driver or primary purpose for any financial product or transaction. Our approach is applied consistently through NEOP Bank’s internal policies, compliance procedures, and rigorous due diligence frameworks.
We have robust data protections in place and comply with regulations in regard to data privacy such as the GDPR. NEOP Bank invests in cybersecurity safeguards and has policies and controls in place to protect our clients and their data. We continuously test and monitor systems for vulnerabilities and to prevent attacks. When data breaches are detected, those people who are impacted are notified in a timely manner.
Information security, data protection, and cybersecurity are essential to NEOP Bank’s business continuity management. We manage information according to the need-to-know principle and establish controls through segregation of duties. NEOP Bank works closely with regulatory authorities, peer financial institutions, and security partners across all markets in which it operates to protect people, mitigate cyber risks, and ensure the integrity of the financial system.
Information security, data protection, and cybersecurity are essential to NEOP Bank’s business continuity management. We manage information according to the need-to-know principle and establish controls through segregation of duties. NEOP Bank works closely with regulatory authorities, peer financial institutions, and security partners across all markets in which it operates to protect people, mitigate cyber risks, and ensure the integrity of the financial system.
NEOP places great value on the relationship with its clients and hopes that this is apparent from the service it provides. The interests of other stakeholders are also held in high regard. Therefore, any external stakeholder who is impacted by products or services offered by NEOP can express their complaint or worries to us.
Questions? Please contact support.