PAYANGEL is fully committed to participating in both local and international efforts to counter money laundering and terrorism financing. To ensure compliance with anti-money laundering laws, PAYANGEL has developed and implemented a robust anti-money laundering programme, comprising policies, internal controls, systems and procedures. This programme includes, but not limited to:
- The identification of potential AML risks relevant to each PAYANGEL activity;
- Robust AML policies and procedures to facilitate compliance with AML laws and regulations;
- Customer identification and verification;
- Enhanced due diligence for customers with higher transfer limits;
- Screening all customers against relevant sanctions lists;
- The identification and risk assessment of Politically Exposed Persons (PEPs);
- Screening all transactions against defined compliance rules;
- Internal procedures for monitoring and reporting suspicious activities;
- Relevant procedures for onward transmission of suspicious activities to the relevant authorities;
- Retention of relevant records;
- The appointment of designated Anti-Money Laundering Reporting Officer responsible for coordinating day-to-day compliance;
- Regular staff training and awareness, including training of senior management.
At PAYANGEL, we screen against United Nations, European Union, UK Treasury and US Office of Foreign Assets Control (OFAC) sanctions lists at a minimum in jurisdictions in which we operate, unless doing so would conflict with local legislation.
PAYANGEL has a variety of automated systems and controls designed to monitor various elements of anti-money laundering compliance, including customer identification and transaction monitoring. Finally, compliance with PAYANGEL’s anti-money laundering policy is reinforced by periodic reviews by our designated AML Reporting Officer.
For further information on PAYANGEL’s anti-money laundering programme, please contact:
- UK: PAYINC GROUP LIMITED, Regus House, Victory Way, Admirals Park, Dartford, Kent, DA2 6QD, United Kingdom
- US: PAYINC US CORP, The Green, Suite #4527, Dover, DE 19901, United States
- CA: PAYINC CA LIMITED 401 Bay Street, 16th Floor, Toronto, Ontario M5H 2Y4, Canada
- EU: PAYINC GROUP LIMITED, Harcourt Centre, Block 4, Harcourt Road, Dublin 2, Ireland