Anti-Money Laundering

COMPLIANCE WITH ANTI-MONEY LAUNDERING AND COUNTERING TERRORIST FINANCING

Dahabshiil has developed a comprehensive compliance and anti-money laundering programme that is used throughout its network to ensure full compliance with all relevant rules and regulation. We recognise the importance of complying with all anti-money laundering laws and combating the financing of terrorism. All our agents are required to implement and maintain the comprehensive anti-money laundering processes laid out in our AML manual.

The purpose of the manual is to make sure that Dahabshiil agents and staff comply with local rules and regulations and apply best practice international anti-money laundering procedures to ensure that they:

• Understand the mechanics and methods of anti-money laundering procedures fully
• Are aware of the company’s anti-money laundering policies and procedures
• Are aware of the their legal obligations in their dealings with customers
• Are alert to suspicious transactions
• Report suspicious transactions according to set procedures
• Retain appropriate records for the required period