KEY ANTI-MONEY LAUNDERING COMPLIANCE PROCEDURES

Express Group International as a registered and regulated Money Service Business is sensitive to the money laundering in the UK and elsewhere.  

For these reasons, Express Group has a well detailed procedures and compliance tactics in order that upon suspicion and presence of knowledge for any such laundering, we may report the incidence to authorities in the United Kingdom .  

Our Money laundering Reporting Officer is our Chief executive who is also a professional member of the International Compliance Association whose objectives are to train professional to apply the right methodology to reduce fraud, money laundering and terrorist financing.  

It is in this regards that Express Group with her trading name being express funds has adopted a rather rigid controls in order that we can support the regulators to reduce unwarranted incidence in our society.  

Express Group has the legal obligation to report any transaction that is deemed suspicious which is referred to as suspicious transaction reports. In the event that we find any activity suspicious, express funds reserves the right to report such activity which referred to as suspicious activity reports.

There is a threshold of an amount set (as a company policy) and in compliance with the law to demand proof of source of funds for any money exceeding £1,900 before transfer can be made effective to the beneficiary.  

Equally any money up to £249 is deemed to be an amount that requires a full proof of identity as well as recent utility bills which enable us to establish the legitimate transfer of the sender.  

In order that Express Funds can develop its business in a right environment, our compliance team has been given the following responsibilities to ensure that: