Certain countries are embargoed and/or subject to specific rules that can affect your international payments.
How does it work?
- There are European regulations and US sanctions in place that target various individuals and organisations, as well as a number of countries around the world (see ‘Useful Links’).
- BNP Paribas Fortis’s legal obligations and risk management policy require it to block all transactions in its IT systems that relate directly or indirectly to a party or a country embargoed in this way.
- Each transaction is subject to specific approval and may be refused on the grounds that the bank is not authorised to execute it or because of a lack of information.
- Your international transactions executed via BNP Paribas Fortis are protected, as the bank will block any that might be subject to financial sanctions.
- Respect for legislation: the execution of orders presented to the bank occurs fully in accordance with European and American regulations.
Good to know
- Any transaction denominated in US dollars is channelled via the United States and is thus subject to American legislation.
- The bank pursues a policy of total transparency in respect of the regulatory authorities. Any order it receives relating to a country under financial embargo must be fully documented and no information may be concealed, suppressed or altered.