It is NYBR's policy to follow both the
letter and the spirit of the law and regulations. We do not want
our money transfers to be used in illegal money laundering schemes.
We will not do business with anyone who knowingly violates the
regulations.
All
remittance orders, regardless of amount, must clear NYBR’s compliance screening.
For the following conditions, NYBR requires the remitter to fill the
Anti-Money
Laundering (AML) form and submit a copy of a non-expired government-issued
ID:
NYBR will not forward a transaction that falls into
the categories found below without the required documentation.
1) Remitter sends $3,000 or more
(inclusive of service fees) within 5 days.
2) Transactions from a single remitter
intended for 2 or more beneficiaries,
total $3,000 or more (inclusive of service
fees) within 5 days.
3) Remitter sends $6,500 or more
(inclusive of service fees) within 3 months.
4) Remitter sends $13,000 or more
within 6 months (inclusive of service fees).
The remitter has to
also show proof that the funds came from legal means.
(e.g. Bank Statement, W2, or
Insurance proceeds).
Submission of the above documents does not
automatically mean the remittance will be processed. It is still subject
to NYBR's compliance screening.
For further inquiries contact:
NYBR
Compliance Officer
Vic Taylor Morrow
800.937.3648 or
212.344.5574 ext. 322
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