AML STATEMENT
As an Authorised Payment Institution, NRB Money Transfer recognises that, as a non-bank
financial institution, we are at risk of being exploited by money launderers. We fully
recognise that we have both civic responsibilities and legal obligations to do all we can to
prevent the abuse of our services.
The NRB Money Transfer Board and Senior Management are committed to minimising NRB Money Exchange (UK) Limited (“the Company”) from being used to facilitate financial crime, through the application of risk-based internal policies, procedures, systems and controls in order to effectively deter, detect, prevent and report instances of financial crime.
The Company strives to ensure that high standards of financial crime prevention and awareness are maintained across the Company. The Company will adhere to all laws and regulations applicable to its business activities and the Company expects its customers and third parties with whom it has working relationships to adhere to the same standards.
The Company like all financial institutions is exposed to some degree of financial crime risk as part of its day-to-day operations. The Company’s risk appetite towards financial crime helps to achieve its commercial objectives, whilst mitigating financial crime risk through the effective implementation of financial crime controls.
The Company has no tolerance of financial crime and is committed to fulfilling its lawful and regulatory obligations with respect of financial crime risk through a risk-based approach to deter, detect, prevent and report money laundering; terrorist financing; bribery; corruption; the facilitation of tax evasion; modern slavery; and human trafficking.
The Company adopts a no tolerance appetite to fraud to enable the business to continue to progress in a safe and controlled manner whilst providing customers with an appropriate customer experience, and as such actively takes steps to minimise its exposure to internal and external fraud and theft.
The Company has no appetite for unauthorised engagement with an individual or entity subject to financial sanctions and is committed to the application of a risk-based control framework that allows the Company to identify this risk at the point of on-boarding or through the duration of a relationship. Should the Company inadvertently enter into, or identify that it has entered into, an unauthorised relationship with a person or entity subject to financial sanctions then this relationship will be declined or terminated immediately. Relationships where the level of financial crime risk is outside of the Company’s risk appetite will be declined or terminated.
- Staff knowledge, awareness and training on regular basis
- Customer identification (KYC Policy, Know Your Customer).
- Keeping records of all transactions.
- Reporting of information.
- Proper scrutiny of information given by the customers.
The NRB Money Transfer Board and Senior Management are committed to minimising NRB Money Exchange (UK) Limited (“the Company”) from being used to facilitate financial crime, through the application of risk-based internal policies, procedures, systems and controls in order to effectively deter, detect, prevent and report instances of financial crime.
The Company strives to ensure that high standards of financial crime prevention and awareness are maintained across the Company. The Company will adhere to all laws and regulations applicable to its business activities and the Company expects its customers and third parties with whom it has working relationships to adhere to the same standards.
The Company like all financial institutions is exposed to some degree of financial crime risk as part of its day-to-day operations. The Company’s risk appetite towards financial crime helps to achieve its commercial objectives, whilst mitigating financial crime risk through the effective implementation of financial crime controls.
The Company has no tolerance of financial crime and is committed to fulfilling its lawful and regulatory obligations with respect of financial crime risk through a risk-based approach to deter, detect, prevent and report money laundering; terrorist financing; bribery; corruption; the facilitation of tax evasion; modern slavery; and human trafficking.
The Company adopts a no tolerance appetite to fraud to enable the business to continue to progress in a safe and controlled manner whilst providing customers with an appropriate customer experience, and as such actively takes steps to minimise its exposure to internal and external fraud and theft.
The Company has no appetite for unauthorised engagement with an individual or entity subject to financial sanctions and is committed to the application of a risk-based control framework that allows the Company to identify this risk at the point of on-boarding or through the duration of a relationship. Should the Company inadvertently enter into, or identify that it has entered into, an unauthorised relationship with a person or entity subject to financial sanctions then this relationship will be declined or terminated immediately. Relationships where the level of financial crime risk is outside of the Company’s risk appetite will be declined or terminated.