1. Our commitment
Speedy and Partner legal name are committed to preventing our services from being used for money laundering, terrorist financing, fraud or sanctions violations. Our program is built to comply with the Bank Secrecy Act, the USA PATRIOT Act, regulations of the Financial Crimes Enforcement Network (FinCEN), and the regulations of the Office of Foreign Assets Control (OFAC). Partner legal name maintains the anti-money-laundering program for the transfers it provides, and Speedy operates within it.
2. What the program includes
- Customer identification and verification before anyone can send money, with enhanced checks for higher limits.
- Sanctions screening of every sender and every recipient against OFAC and other applicable lists, before money is paid out.
- Transaction monitoring to detect unusual patterns, structuring and indicators of fraud or scams.
- Reporting to FinCEN and other authorities as the law requires, including suspicious activity reports and currency transaction reports.
- Record-keeping of identity and transfer records for at least five years.
- A designated compliance officer, staff training, and independent testing of the program.
3. What this means for you
- We may ask you about the purpose of a transfer, your relationship to the recipient, or the source of your funds.
- We may delay, refuse or reverse a transfer, or close an account, where the law requires or where we cannot complete our checks.
- The law does not allow us to tell you whether we have filed certain reports.
- We do not serve countries or regions under comprehensive U.S. sanctions.
4. Questions
compliance@speedymoneytransfer.com