AML POLICY & COMPLIANCE

  • City Express Money Transfer at every time is committed in working closely with the Central Bank of the NEPAL and other major international organizations to fight money laundering, terrorist financing and other suspicious funding activities. Keeping this in mind, we have implemented the best AML practices in all our branches. We are also committed to continually observe the Anti-Money Laundering requirements by providing our foreign correspondent banks and agents due-diligence information on transactions in line with the guidelines and recommendations of the Financial Action Task Force (FATF) as and when required.

  • All records including, customer's identification documents and related data are maintained and retained for 5 years with utmost care for further reference and audit trial. All customer and transactional information are kept confidential. Internal Audit tests the activities of the compliance regime, and performs random checks on key responsibilities. All findings and observation are being discussed with compliance department, and reported to the Managing Director. City Express Money Transfer is always committed to continually fulfill its Anti-Money Laundering obligations at all times.

  • Enhanced due-diligence is conducted when transactions appear to be potentially suspicious on the basis of suspicious transaction indicators customer service staff ensures to ask for additional identification documents or documentary proof of source of fund as they deem appropriate. All staff handling remittances is required to report any potentially suspicious or unusual transactions, to our AML Compliance Officer, who will in turn conduct an in-depth investigation, and take an appropriate action. If found potential, report such transactions to Financial Information Unit at the Central Bank of Nepal.

  • Here we follow the AML compliance policies and procedures set by the Central Bank of NEPAL and others regulatory bodies like OFAC, EU, UN etc. we have a well-documented Anti-Money Laundering policies and procedures in place, which are updated periodically. We have also indigenously set up certain IT procedures to check and control financial transactions at various tiers and continuously hold internal training sessions to keep the staff abreast of development on the subject. The company’s AML policy and procedures applies to all currencies & remittances, a complete KYC and Due-Diligence process is mandatory before dealing with any customer.

  • City Express Money Transfer is committed to participate in international efforts to counter money laundering and terrorism financing, for which City Express Money Transfer has implemented an effective Anti-Money Laundering System to protect its financial sector from potential money laundering offenses. We are committed with the highest standards of Anti Money laundering (AML) compliance and require all our staffs to adhere to these standards to prevent use of our products and services for money laundering purpose and to safeguard the interest of our customers.