Money Laundering Policy
How may Anti-Money Laundering and like activities (such as anti-Terrorism) affect me ?
You may sometimes be asked to confirm your identity and other personal (or corporate - if you are a company) information. We have set procedures to follow, dependent on many factors, involving identifying you and your bank account. Each payment is subject to scrutiny to assess risk and each Transpact is individually assessed. As a result of investigation, we may ask for further information on a case by case basis.
You may be asked to confirm your identity when you become a new customer, or before first payment is made, or after you have been a customer for some time. We strive to minimise any inconvenience to you, but the verification process may occasionally take some time to complete. Payments are under constant scrutiny.
Criminals and terrorists need money. 'Dirty' money made from drug dealing, people trafficking, smuggling, and robbery is turned into clean money by using false identities or taking the names of innocent people - like you. The law mandates that we make sure that people are who they say they are. This does not mean in any way that suspicion is falling on you. Any information about your identity is held strictly confidentially. Your identity is protected by these steps.