KYC/AML
The KYC policy is framed and approved by the board of directors Meeting Dated 10/11/2021.
Anti-Money Laundering Compliance of is committed to
preventing its services from being used in a manner that facilitates criminal purposes, including
handling the proceeds of crime, participating in a money laundering scheme, facilitating support
for financing terrorism, or evading or violating economic sanctions and complies with all Anti-
Money Laundering, Counter Terrorist Finance (CTF) and Sanctions regulatory standards.
AML Policy of includes:
– Know Your Customer (KYC) Due Diligence Program inclusive of PEP lists;
– Record keeping;
– Limitations of Anonymous Activities;
– Suspicious Activity Monitoring and Reporting;
– Independent Testing/Audit;
– Compliance with the local laws and regulations;
All persons involved in Moneysend transactions are monitored within the scope of KYC
documentation. KYC documentation is updated periodically and in accordance with a risk-based
approach.
KYC “Know Your Customer”
KYC is a set of documents that is required for establishing the identity of a person.All participants of Moneysend transactions shall provide AML Officer with all requested
documents, such as proof of identity and proof of address, as well as any other documents if
necessary.
Identity Proof – Document List:
– Passport
– Driving License
Address Proof – Document List
– Passport
Records keeping
All documents on customer relationships, and all transactions records should be retained for at
least for five years after the transaction has taken place and should be available for perusal and
scrutiny of audit functionaries as well as regulators as and when required.