Anti-Money Laundering Policy

Money Laundering is the process utilized by criminal elements as a method of concealing the true origin and ownership of the proceeds of illegal activities. The phrase money laundering covers all methods used to change the identity of illegally obtained money so that it can be used for legitimate purposes.

Money laundering is not restricted to the proceeds of drug trafficking. It includes proceeds from other criminal activities such as armed robbery, tax evasion, smuggling, prostitution, terrorism, arms dealing, fraud, forgery and counterfeiting, bribery and corruption.

Money laundering is a major threat to financial institutions and the economic stability of entire countries. Governments worldwide have introduced legislation to prevent it, including specific money laundering offences and legally imposed requirements on institutions operating in their jurisdictions.

The United Kingdom Government, using the Proceeds of Crime Act 2002 (PoCA), the Terrorism Act 2000 (TA00) and the Money Laundering Regulations 2007, has written strict laws and regulations to help prevent money laundering activities

Ezcash has a comprehensive compliance program within its organization to ensure compliance with government rules and regulations. We do not want Ezcash international money transfer services to be used for illegal money laundering activities. It is our policy that we follow both the letter and the spirit of the law and the regulations.

Ezcash is a Money Service Business registered with and regulated by HM Revenue & Customs under the Money Laundering regulations which came in to effect from the 3td of March 2010 in the United Kingdom. Ezcash is firmly committed to effective prevention of Money Laundering and terrorist financing. The basis for prevention of money laundering and terrorist financing is knowledge of the customers, based on satisfactory evidence of the identity of customers; therefore we have established, documented and maintained a customer identification procedure within our business. As part of our procedure, after your first transaction is carried out we require: two forms of identification, one of which must include a photo as primary ID. Accepted forms of primary ID are;

  1. A valid passport
  2. UK Driving license or
  3. EU National identity card with photo
  4. Asylum Seekers SAL1 or SAL 2 forms.

In addition we require one of the following as proof of current home address. These forms of documentation need to be less than 3 months old.

  1. A bank or building society statement
  2.  A council tax bill
  3.  A recent utility bill

We will keep all identity information on record for 5 years. We may also ask for evidence of the source of funds, if a need arise based on the volume and pattern of your money transfers. Customers must comply with these requirements. Ezcash retains the right to refuse to accept a customer instruction and is under no obligation to enter into a transaction should it choose not to do so.

Sources of U.K. Government Forms and Data

  1. Money Laundering Regulations 2007
  2. MLR 8 at a glance – a quick guide to the prevention of money laundering and terrorist financing
  3. EU Payments Regulation 2007 and The Transfer of Funds Regulations

Reference

You can find further information and help about Money Laundering Regulations and reporting serious crime on the following places.

  • HM Treasury
  • Bank of England
  • The Financial Conduct Authority (FCA)
  • The Office of Fair Trading (OFT)
  • Serious Organised Crime Agency (SOCA)
  • Home Office
  • Financial Action Task Force (FATF)
  • Proceeds of Crime Act see part 7 section 327 to 340

Compliance Officer
Compliance Department
Ezcash
Renewal Trust Business Centre
Hawksworth Street
Nottingham
England
NG3 2EG

Tel:  0207 9936616  

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