Money Laundering Statement

The prevention of money laundering is a key focus of regulatory authorities in developed countries around the world. Money laundering regulations are designed to inhibit the movement of funds derived from criminal activity and to restrict the availability of money to fund terrorist activities.

In accordance with our regulatory obligations, we have strict procedures in place to minimise the risk that our service could be used for money laundering purposes including:

  • Identification of all clients
  • Monitoring and reporting suspicious transactions
  • Maintaining records for at least five years
  • Training staff to recognise suspicious transactions and to be aware of their reporting obligations

In order to further reduce the risk that our service could be used for money laundering purposes, we do not deal in cash at all. We will not accept settlement of your transaction in cash, by cheque or by credit card or debit card. All money is received and remitted by us electronically.

We will not accept you as a client until we are satisfied that you are who you say you are. Furthermore, we reserve the right at any stage to refuse to process your transaction if you fail to provide us with satisfactory information or, if information you have provided to us subsequently appears to be misleading, incorrect or false.

We will not ask you to provide any information that is not necessary to satisfy our legal obligations. You should therefore comply with any request for information promptly. Your failure to do so could, in some circumstances, be regarded as suspicious. You should also assume that all information provided to us could be made available to regulatory authorities in both Australia and the other country associated with your transfer of funds.

WARNING: Money laundering is a criminal offence. You should be aware that, by misusing our service, you could expose yourself to 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

We do not want your business if the funds you are transferring are sourced from, or are related to, criminal activity.

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IMPORTANT: This information has been prepared for distribution over the internet and without taking into account the investment objectives, financial situation and particular needs of any particular person. OzForex Group Limited ABN 12 165-602-273 and its subsidiaries ("OzForex") make no recommendations as to the merits of any financial product referred to in this website, emails or its related websites. Please read our Product Disclosure Statement and our Financial Services Guide.
DISCLAIMER: OzForex makes no warranty, express or implied, concerning the suitability, completeness, quality or exactness of the information and models provided in this web site. Read full disclaimer.
OzForex provides international money transfer services to private clients and business customers. Use our free currency converter, exchange rate charts, economic calendar, in-depth currency news and updates and benefit from competitive exchange rates and outstanding customer service.
OzForex Limited, a wholly owned subsidiary of OzForex Group Limited, is regulated in Australia by ASIC (AFS Licence number 226 484) © 2011 OzForex Limited ABN 65 092-375-703. Read our Money Laundering Statement.