Compliance

Moneycorp upholds ethical business practices and all regulatory standards where we do business. Reliability, dependability and keeping your money safe is at the heart of everything we do.

Moneycorp is committed to complying with applicable laws with respect to the transactions we process.  To comply with the USA PATRIOT Act and other state and federal laws, we adhere to a comprehensive anti-money laundering (AML) and counter terrorist financing (CTF) program.  It is Moneycorp’s policy to follow both the letter and spirit of these regulations.

Moneycorp holds Money Transmitter licenses through State banking and financial services regulatory agencies. We are subject to regular oversight and routine examinations from these state regulatory agencies.  Click here for licensing information.

• Independent audits are performed annually for compliance with USA PATRIOT and Bank Secrecy acts, as well as other federal financial services and information privacy laws and regulations.
• Moneycorp financials are audited annually by a reputable, international CPA firm.
• Moneycorp devotes considerable resources to its CFTC/NFA and money transmission compliance programs, remaining educated, diligent and alert regarding all issues pertaining to the BSA and USA PATRIOT Act, under the guidance of its Chief Compliance Officer.
• Registered with FinCEN, a division of the Department of the Treasury, Moneycorp is held accountable and undergoes a comprehensive process to confirm our compliance with regulatory and AML requirements.
  

Know Your Customer

We are required by law to identify, document and verify the identity of all of our customers. Our “Know Your Customer” program is part of Moneycorp’s first line of defense against money laundering and terrorist financing risks and a key component of our coordinated compliance program. Moneycorp’s compliance team verifies and documents the identity of every client. We also perform due diligence on all potential and existing clients, counterparties, partners and third-party service providers and vendors.

Compliance Policies and Procedures

As part of Moneycorp’s first line of defense against money laundering and terrorist financing risks, we have written policies and procedures in place which comply with all relevant laws and regulations as well as international standards and best practices.  These policies and procedures contain a clear description for employees to understand compliance obligations. We provide instructions and guidance on the processes required for detecting and reporting suspicious transactions, record-keeping requirements and collecting and verifying customer identification information.

We collect only information that is necessary to provide our services and to satisfy our legal obligations, as outlined in our Privacy Policy. All information that is compiled from our customers is treated with the utmost care and kept confidential at all times.

If you have any comments, questions, or require guidance or support related to Moneycorp’s AML policies and practices, please contact the Compliance Department at compliance.us@moneycorp.com.