Sanctions information for customers

Sanctions are restrictive or coercive measures imposed on individuals, entities, countries or particular industry sectors within a country in an effort to curtail their activities and to exert pressure and influence on them. Sanctions regulations are implemented by international bodies such as the United Nations, the European Union and the United States, amongst others.

Permanent tsb has a zero risk tolerance for breaches of sanctions regulations, and will not knowingly provide banking services to persons, entities, vessels or countries where the provision of such services would breach or potentially breach applicable Sanctions regulations.

Sanctioned Countries  

In line with the Bank’s AML/CFT & Sanctions risk tolerance/principles; permanent tsb will not do business with the following ‘Sanctioned Countries’ which permanent tsb has categorised as posing a significant higher risk for money laundering, terrorist financing and financial sanctions:

• Cuba
• Iran
• Iraq
• Myanmar
• North Korea
• Syria
• Sudan

This means that permanent tsb will not:

• Facilitate the processing of funds (either directly or indirectly) to or from these jurisdictions,
• Facilitate the processing of funds to/from persons resident  or entities established in these jurisdictions,
• Operate accounts for persons resident/incorporated in these jurisdictions