Neth Money is aware of the significance of having comprehensive compliance procedures in place to detect and stop criminals from using our system. We are totally committed to fighting money laundering and terrorism and in order to fulfil this commitment, we at Neth Money have adopted the following measures.
We train our staff on a regular basis to understand and apply anti-money laundering laws and regulations. This training ensures that our staff team as well as any other party associated with us are fully aware of existing regulatory requirements and to adopt best practice of anti-money laundering and terrorist financing guidelines. We have also developed an anti-money laundering policy process that provides strict guidelines for our employees on how to detect potential money laundering and or any other activities that maybe considered suspicious activities. We are currently implementing a Risk Based Approach in fighting money laundering and terrorism finance.
Due diligence is performed on all customers who must provide basic information including full name, residential/business address, date of birth (individuals), registration details (corporate bodies). Customers who fail to provide these details will not be able to use our service.
It may be necessary for the Company to carry out enhanced due diligence on certain customers where the customer or a transaction involving the customer appears to be "high risk". This means that there is a higher level of identification and verification of the customer’s identity required.
Clients should assume all information provided to Neth Money is available to regulatory authorities in both the country of origin of the funds, and the destination country of the funds. Neth Money reserves the right to refuse to process a transfer at any stage, where it believes the transfer to be connected in any way to money laundering or criminal activities. Neth Money is prohibited from informing a client that they have been reported for suspicious activity. Neth Associates will not do business with you if the funds are sourced from criminal activities or the nature of the transaction is illegal in any way.