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The PNC Financial Services Group, Inc., its branches and majority owned subsidiaries (collectively "PNC") have adopted and implemented an Anti-Money Laundering and Sanctions Program ("AML Program"). The AML Program complies with all applicable laws and regulations regarding sanctions, money laundering, terrorist financing, and other financial crimes.
The PNC Financial Services Group, Inc. is regulated by the U.S. Federal Reserve Bank of Cleveland; its subsidiaries in the United States are regulated by several regulatory agencies including, but not limited to the Office of the Comptroller of the Currency, the Securities and Exchange Commission, the Commodity Futures Trading Commission, Federal Deposit Insurance Corporation, Consumer Financial Protection Bureau, and the Financial Industry Regulatory Authority. Outside the United States, PNC subsidiaries are subject to local regulatory oversight.
PNC has implemented a risk-based, enterprise-wide AML Program that complies with both the specific provisions and the spirit of all relevant laws and regulations. Accordingly, PNC’s AML Program includes, but is not limited to:
The Risk Committee of the Board of Directors has appointed an enterprise-wide Chief AML Compliance Executive who serves as PNC’s primary point of contact with PNC’s regulatory authorities on AML and sanctions matters, and oversees PNC’s compliance with AML and sanctions requirements.