TIC Remit

TIC REMIT LTD Registered by the Financial Conduct Authority (FCA) under the payment services regulation 2009 – PSD2/ 809611 for the provision of payment services. We are also an authorised and regulated business with the Her Majesty Revenue and Customs(HMRC).

THIS IS OUR POLICY TO COMPLY WITH ALL GOVERNMENT REGULATIONS AT ALL TIMES.

AS A MONEY SERVICE BUSINESS, WE ARE SUBJECT TO THE FOLLOWING REGULATIONS:

REPORTING

We are required to report the following types of transactions to the authorities:

Suspicious Activity (SAR)

RECORD KEEPING

We are required to keep all client, transaction and corporate records for a minimum of 5 years.

ASCERTAINING IDENTITY

We are required to collect and verify your identification for remittances of £1,000 and more.

THIRD PARTY DETERMINATION

If you are conducting a transaction on someone else's behalf, we are required to obtain information on the both parties: you and the person on whose behalf you are conducting the transaction.

COMPLIANCE PROGRAM

We are required to maintain a compliance program containing adequate policies and procedures in accordance with the applicable regulations. For more information, refer to FCA and FATF websites:

http://www.fca.org.uk/
http://www.fatf-gafi.org/

ADDITIONAL MEASURES WE TAKE TO PREVENT MONEY LAUNDERING AND TERRORIST FINANCING

WE TAKE THE FOLLOWING ADDITIONAL MEASURES TO PREVENT MONEY LAUNDERING AND TERRORIST FINANCING:

SCANNING AGAINST THE HM TREASURY WATCH LIST

It is our policy to check each transaction against the HM Treasury watch list. Any matched names are subject to further review by the compliance officer.

TRANSACTION MONITORING

We have adequate controls pertaining to the transaction activity at several instances of the life cycle of a transaction. These controls include:

Client Profiling
Risk Assessment
Client Identification Controls Validations
Transaction Aggregation Thresholds
Government Reporting Controls Validations
Possible Structuring Reporting
Enhanced Due Diligence Reporting

AML & COMPLIANCE POLICY