Anti Money Laundering (AML)

The fight against money laundering is a priority for Prabhu Money Transfer Pvt. Ltd. We, at Prabhu Money Transfer (PMT) recognize that the fight against money laundering is a team effort. We support the major international organizations, which collectively set and enforce standards for anti-money laundering policies and programs such as FATF, UN, EU, The organization of American States – The Office of Foreign Assets Control (OFAC) and the Local Regulatory Authority. These organizations are increasingly insistent that compliance be assessed in terms of implementation and not simply concurrence with the policy standards or guidelines established.

PMT prohibits remittances to charitable, religious and social organizations and societies.

Our co-operation to our regulators is in it’s entirely wherein we aim to maintain the highest operating standards to safeguard the interest of our customers, our shareholders, our staff and the communities where we operate. In conducting business with due skill, care and diligence, PMT seeks always to comply with both the letter and spirit of relevant laws, rules, regulation, codes and standards of good practice. We aim to promptly address any irregularities that may arise, as we believe in transparency in our financial and regulatory reporting with swift disclosure of any breaches. The Three basic tenets of Anti Money Laundering i.e., Know Your Customer (KYC), Source of Funds and End Use/destination of funds .

Anti Money Laundering – Policy and Procedures
  • The maximum limit per transaction is fixed
  • All the restrictions of the various monetary authorities will apply in the sending and receiving countries
  • A strong compliance system ensures automatic rejection of the names of all the -terrorists and terrorist organizations in the system
Customer Du-diligence and KYC policy
  • Customer Data maintained at least for 6 years
  • Trained staff deployed in the counter
Appropriate Training to Staffs
  • Staffs have been trained on all matters pertaining to Money Laundering & Terrorist Financing.
  • Training has been given in line with their responsibilities.
CDD Form

Click here to Download

AML Report Sending Format Click here to Download