Effective Date: 11/01/2025
Mega Money Transfer Inc. (“we,” “us,” or “our”) is committed to preventing money laundering,
terrorist financing, and other illegal financial activities. This Anti-Money Laundering (AML)
Policy outlines our procedures and controls designed to detect, deter, and report suspicious
activities in compliance with applicable Canadian laws and regulations.
1. Purpose
This policy aims to ensure that Mega Money Transfer maintains the highest standards of compliance
with AML laws, protects the integrity of the financial system, and promotes responsible business conduct.
2. Scope
This policy applies to all employees, contractors, and agents involved in the provision of money transfer services.
3. Customer Due Diligence (CDD)
- We verify the identity of our customers before allowing them to use our services.
- Verification includes collecting and confirming identification documents such as government-issued IDs, proof of address, and other relevant information.
- For higher-risk transactions or customers, enhanced due diligence measures are applied, including more detailed background checks.
4. Transaction Monitoring
- All transactions are monitored for unusual patterns, including large sums, rapid transfers, or transfers to high-risk jurisdictions.
- Transactions suspected of being linked to money laundering or terrorist financing are subject to additional scrutiny.
5. Reporting Suspicious Activity
- Employees are trained to identify and report suspicious transactions or activities internally to our compliance officer.
- If suspicious activity is confirmed, a report is filed with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) or other relevant authorities as required by law.
6. Record Keeping
- We maintain detailed records of customer identification, transactions, and reports for a minimum of five years, in compliance with legal requirements.
- Records are stored securely to protect customer privacy and integrity.
7. Training and Awareness
- All relevant staff receive regular AML training to understand their responsibilities, legal obligations, and procedures for reporting suspicious activities.
- Training is updated periodically to reflect changes in regulations and best practices.
8. Cooperation with Authorities
- Mega Money Transfer cooperates fully with regulatory and law enforcement agencies during investigations related to money laundering or terrorism financing.
- We provide timely and accurate information when legally required.
9. Policy Review
- This AML Policy is reviewed annually or as required to ensure ongoing compliance with evolving laws and regulations.
- Updates to the policy will be communicated to all relevant stakeholders.
10. Contact Information