Anti-Money Laundering / Counter Financing of Terrorism Policies

BDO Remit (UK) Ltd has established a board approved Anti-Money Laundering and Counter Terrorist Financing Program based on international guidelines and existing laws in the various jurisdictions where it operates. The program consists of:

  • > Establishment of written policies and procedures to address ML and TF risks
  • > Appointment of a Money Laundering Reporting Officer
  • > Establishment of Customer Due Diligence and Enhanced Due Diligence Program
  • > Conduct of Risk Assessments
  • > Ongoing transaction monitoring to identify suspicious transactions
  • > Reporting suspicious transactions and other transaction reporting requirements
  • > Observe Record Retention requirements
  • > Conduct of regular training
  • > Cooperation with the Authorities
  • > Conduct of independent Testing

BDO Remit (UK) Ltd ensures that there is a process in place to update the AML/CTF Program to incorporate changes in regulatory requirements and implement controls to address new ML/TF trends.

Please click here for our completed AML questionnaires.

First time clients must first register with the Company by filling up the Customer Information Sheet and submit at least one (1) of the following forms of identification:

  • > National ID card
  • > Valid driver’s license
  • > Valid passport
  • > Work permit
  • > Tax I.D.

The client must also present at least one (1) of the following proof of address documents:

  • > Bank Statement
  • > Utility Bills: Gas, Electricity, Water, Council, Tax and Telephone (except mobile phone bill)
  • > Credit Card Statement

Only original or certified photocopies of documents are accepted. Certification may be carried out by a lawyer, banker, accountant, medical doctor, minister of religion, postmaster, teacher, or embassy official. The certifier must sign and date the photocopy and record their name, business address, contact number, and personal qualification. They must note “Certified photocopy of the Original” or a similar authentication in their preferred wording, on each of the photocopied documents.

Acceptable proof that shows source of funds includes:

Up-to-date bank account statement, dated no longer than 3 months; Loan agreement from financial institution or credit provider; A recent payslip showing an amount greater than the total amount to be remitted and; Property Deed of Sale

Once this criterion has been met and the Accounts Administrator and/or MLRO. The have agreed that the proof of funds is acceptable, the transaction can then be processed.

The transaction is recorded into the BDO Remittance System where only designated employees, directors, managers and compliance officers are allowed to access the system and examine customer records.  This also allows the same individuals to follow a line of investigation, if they feel there are discrepancies within client transactions.

Mission Statement

We do business with absolute professionalism, honesty and passion, partnering as a team to meet our consumer’s needs whilst complying with all regulatory requirements.

Remittance Transaction Reminder

With each transaction recorded and monitored, the maximum lodgement a client can make within one calendar month is £3,000 or €3,000.00. If the client wishes to lodge an amount in excess of that, either in one transaction or in several lodgements within the said period, The BDO Remittance System will automatically show a warning in the screen informing the teller that the client has already exceeded the monthly limit. The teller will then check the client’s remittance activity thru the Sender Transaction History function of the system and inquire about the source and purpose of the remittance. The Company reserves the right to refuse the transaction should the client fail to produce satisfactory documentary evidence of the source of funds to be remitted.