AML & KYC
AML & Compliance
Remitware Payments Incs. (Remitr) has a highly effective Anti-Money Laundering Program . Remitr is committed to follow internationally recognized standards ofAML & CFT.
Remitr follows the AML compliance policies and procedures as set out by respective Central Bank and others International bodies like OFAC, UN etc. Our Dedicated Compliance team ensure strict compliance to all agreed procedures and guidelines. Our compliance program has well-documented AML policies and procedures in place, which are updated on a periodic basis.
We have a dedicated specialist compliance officer who monitoring, filtering and reporting all transactions and ensures strict adherance to our program.
Periodic training sessions to all operations and other staff on our Compliance and AML policies and procedures.
All customers have to follow a mandatory Know Your Customer (KYC) and Due-Diligence process during their registration before they are able to make any transactions.
Remitr uses advanced in house technology and systems are used to monitor and check all the transactions with multi-layered screening logic.. We also use indigenously developed algorithms to monitor transactions for frequency, volumes, beneficiaries and other key parameters to indentify suspicious activities and customers.
An in-built process of enhanced due-diligence is conducted when any transactions appear to be suspicious. All such transaction pass through additional check which may include additional identification documents or a certified documentary proof of source of funds on a case to case basis.
All our staff handling remittance operations are required to mandatorily report any such potentially suspicious or unusual transactions to our Compliance Officer, who will in turn conduct a further investigation and take appropriate action, if required.
As per established process, a report of any such suspicious transactions is created and reported.
Remitr maintains all customer’s identification documents and related data for further reference and audit trial.
All customer and transactional information are kept strictly confidential.
A robust Internal Audit reviews and tests the Compliance processes and performs random checks.