Compliance

Compliance

QS Remit is fully aware of the issues regarding money laundering and its consequences globally. In context of money laundering issues gaining national as well as international attention, there is mounting pressure on financial institutions to take serious measures in order to combat such issues. For this, we are committed to formulate our AML policies as per the laws, rules and directives of the Central Banks of the countries that we operate in.

Regulation Compliance

QS Remit holds license from Kanto Regional Financial Bureau 00033 with head office in Tokyo, Japan. In addition, we also take care of the following procedures for compliancy requirements:

  • Anti-Money Laundering Compliance Guidelines
  • KYC-Know Your Customer/Customer Identification
  • Reporting of suspicious transactions
  • Securing and restoring information
  • Preservation of records

 

KYC Policy

In order to tackle with the issues regarding money laundering and terrorist financing, QS Remit has developed an internal database of customers which confirm to local rules and code of conduct along with "N&P Anti-Laundering & Combating Terrorist Financing Policy & Procedure". Moreover, QS Remit ensures that each and every client is properly identified and monitored so that it is compliant with the requirements. The identification requirement for each transaction includes the followings:

For sending

  • Sender’s full name and address
  • Sender's telephone number
  • Receiver's full Name, address and telephone number
  • Details with valid photo ID of the sender to be incorporated in each transfer instruction.
  • Purpose of transfer and sources of fund details
  • Signature of the sender

For receiving

Receiver should present a valid identification document (Driver's license, National Identity Card or Government issued identification with photo) that is compliant with the local laws.