Compliance
Our commitment to Compliance
At Century Finance Company Limited, we are committed to conducting our business with integrity, transparency, and in accordance with applicable laws, regulations, and regulatory requirements in Myanmar. We maintain robust compliance frameworks to support responsible financing practices, customer protection, and risk management.
Compliance ensures that all operations follow the rules and regulations set by the Central Bank of Myanmar (CBM) and other authorities. It helps identify and manage risks, prevent financial crimes such as money laundering and fraud, and protect customers and the institution’s reputation. The compliance function also provides guidance to staff and monitors adherence to internal policies and legal requirements.
High-Risk Transactions
On-Going Monitoring of High-Risk Transactions and Accounts
NBFIs apply a risk-based approach to continuously monitor high-risk customers and transactions. This helps detect unusual or suspicious activities related to money laundering and terrorist financing. By understanding normal customer behavior, NBFIs can identify and investigate irregular patterns and ensure compliance with regulations set by the Central Bank of Myanmar (CBM).
Know Your Customer (KYC)
Know Your Customer (KYC)/Customer Due Diligence (CDD) Policy
Century Finance implements Know Your Customer (KYC)/Customer Due Diligence (CDD) measures to verify customer identities and understand customer activities. These procedures help us maintain secure and responsible financing services.
- Customers may be requested to provide:
- NRC/Passport
- Proof of identity
- Business registration documents
- Address information
- Supporting documents as required
The policy is in place to verify the identity of customers and assess their risk levels. It ensures that institutions understand their customers’ background, business activities, and source of funds. KYC helps prevent money laundering, fraud, and other financial crimes while ensuring compliance with regulations set by the Central Bank of Myanmar (CBM). The policy includes customer identification, risk classification, and ongoing monitoring.