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. Tranzfers is committed to preventing money laundering through its service and complies with regulatory requirements including:
Depending on the origins of clients, Tranzfers may report suspicious activity to regulatory authorities in one or more countries.
Tranzfers reserves the right to collect identification from any client prior to Tranzfers paying out the proceeds of a client's transaction. In general, we collect identification in the form of a copy of a passport/drivers license and a signed bank statement showing your current residential address.
Tranzfers will also validate the residential/business address provided at registration by posting an Activation Code to that address.
Clients should assume all information provided to Tranzfers is available to regulatory authorities in both the country of origin of the funds, and the destination country of the funds.
Tranzfers will not accept payment by credit card or debit card. Tranzfers will not accept cash in payment for foreign exchange transfers. Tranzfers will only pay into a bank account at the receiving end. It will not pay out cash under any circumstances.
Tranzfers 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. Tranzfers is prohibited from informing a client that they have been reported for suspicious activity.
Tranzfers is obliged to report all 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;
Tranzfers does not want your business if the funds are sourced from criminal activity or the nature of the transaction is illegal in any way.