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Anti Money Laundering

The prevention of money laundering is a key focus of regulatory authorities in developed countries. The prevention of money laundering inhibits the movement of funds derived from criminal activity and restricts the availability of money to fund terrorist activities. Money Move IT is committed to preventing money laundering through its service and complies with regulatory requirements including:
  • Identifying clients
  • Monitoring and reporting suspicious transactions
  • Maintaining records for at least seven years
  • Training staff to recognize suspicious transactions and be aware of their reporting obligations
Depending on the origins of clients Money Move IT may report suspicious activity to regulatory authorities in one or more countries.

Money Move IT may collect identification from customers prior to Money Move IT paying out the proceeds of a client's transfer. We may collect identification in the form of a copy of a passport/drivers license and a signed bank statement showing your current residential address. These documents can be uploaded through the website, emailed, posted or faxed. We may conduct additional security checks on clients at Money Move IT's discretion.

Money Move IT may also validate the residential/business address provided at registration by posting an Address Verification Code to that address.

Clients should assume all information provided to Money Move IT is available to regulatory authorities in both the country of origin of the funds, and the destination country of the funds.

Money Move IT 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 activity. Money Move IT is prohibited by law from informing a client that they have been reported for suspicious activity.

Money Move IT is obliged to report suspicious transactions, by misusing the service you may face criminal prosecution as we are bound to automatically report such behaviour to the authorities. Examples of misuse include, but are not limited to;
  • Breaking a large transaction into smaller transactions to avoid reporting
  • Providing false or misleading contact details
  • Providing false identification documents
Money Move IT does not want your business if the funds are sourced from criminal activity or the nature of the transaction is illegal in any way.

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