Compliance

Horyaal Online is fully committed to compliance with all laws in place in relation to money transfer in both UK and overseas. Money Laundering and Terrorist Financing are serious problems, and we follow all national and international regulations and guidelines to prevent them. We also have our own policy and procedures that we use on a regular basis to identify, disrupt, and deter illegal activity from happening. 

This includes regular training of all our agents and staff including updated information and refresher training. Our employees are able to identify suspicious activities and are authorized to report that activity to the appropriate authorities. 


For private clients: 

Customers with large size transactions or frequent transactions will require presenting two forms of identification, one of which must include a photo ID. 

Acceptable Ids include: 

  • Valid passports
  • Driving licenses
  • Valid identity cards
  • Valid UK Travel Documents
Along with a recent utility bill, council tax bill, bank statement or mortgage statement showing a home address (no more than three months old) as proof of address.

In addition to these requirements we may also ask for evidence of the source of funds i.e. loans, property sales, equity sales or conformation by an accountant, as well as proof of reason for the transaction i.e. invoice, confirmations of purchases from estate agents, brokers or other agencies.

 

 

Business Clients

For large size transactions and or frequent transactions we may require all or any information as follows, which will be kept on records Business activity and reasons for transactions 

• Expected frequency and volume of transactions 

• Origin and destination of funds 

• *ID verification of Directors, Partners or Sole Traders (two forms of identification, one of which must include a photo ID. Valid passports, driving licenses and identity cards along with a recent utility bill, bank statement or mortgage statement showing a home address (no more than three months old) are common forms provided) 

• If a limited company, the registered company number, corporate name, trading names, VAT registration, registered principal address and trading addresses 

• List of authorised persons allowed to give instructions on behalf of the company 

• If an MSB, a copy of a valid MLR certificate 

• Copies of annual reports and name and address of company auditors 

• Details of compliance procedures Clients must comply with these requirements. The Company retains the right to refuse to accept a client instruction and is under no obligation to enter into a transaction should it choose not to do so.

* In cases where original documents cannot be provided on a ‘face-to-face basis’ we will accept copies of ID. However, in the case of Photo ID this must be certified as ‘Seen and providing a true likeness’ by a either a lawyer, accountant, post master, banker, teacher, 
doctor, minister of religion or someone of similar status who should sign the copy and supply their own name and address and contact details. Copies of certified documents should be posted.