Anti-Money Laudering & Terrorist
Financing Compliance Statement
Transamericas Services Corporation (the “Company”) is licensed as a money transmitter in each state jurisdiction where the company is conducting business. The Company is also registered as a “money services business” (“MSB”) with the federal Financial Crime Enforcement Network (“FinCEN”).
It is the policy of the Company to provide financial services, including money transfer services and any ancillary services, in accordance with applicable federal and state laws, consistent with an emphasis on safety and soundness. In providing such services, it is the express policy of the Company to comply with all applicable anti-money laundering and terrorist financing laws and regulations, including, but not limited to, the Bank Secrecy Act (“BSA”) and the USA PATRIOT Act of 2001, and applicable state laws and regulations.
As a licensed and registered money transmitter, the Company has adopted a comprehensive Bank Secrecy Act/Anti-Money Laundering (“BSA/AML”) compliance program. Our compliance program includes written policies and procedures, an appointed compliance officer, agent due diligence procedures, an employee and agent training program, and a periodic independent examination function.
Money laundering and financial crime causes incalculable harm to individuals and the U.S. economy, and undermines confidence in the financial services industry. The war against money laundering and financial crime requires constant vigilance and the commitment of all financial institutions. The Company is fully committed to these efforts. It is the policy of the Company to maintain an effective and robust BSA/AML compliance program.
Some of the elements of our BSA/AML program include:
• Reporting of suspicious customer and agent activities
• Reporting of large currency transactions as required by law
• Agent due diligence and transaction monitoring
• Know Your Customer (“KYC”) and Customer Identification Program (“CIP”)
• Office of Foreign Assets Control (“OFAC”) screening
It is the Company’s policy that no customer or agent relationship is worth compromising our integrity and commitment to combating money laundering, terrorist financing and other financial crime. The Company is committed to the highest of standards of BSA/AML compliance and we require that our agents and employees likewise adhere to these standards in preventing our services from being used to facilitate money laundering, terrorist financing and other financial criminal activity.
For additional resources on BSA/AML compliance, go to:
http://www.fincen.gov
http://www.fincen.gov/statutes_regs/guidance
http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed
PREVENTION OF FRAUDS, SCAMS AND ELDER ABUSE
We recommend and urge you not to send money or pay any fee for someone you do not know personally and trust. You must be especially careful with offers that seem too good to be true.
Frauds often start with someone offering to buy something you advertised, pay you to do work at home, give you an “advance” on a lottery you supposedly won, pay an installment on the millions that you will receive for agreeing to have money from a foreign country transferred to your bank account for safekeeping, or some type of ransom for a loved one. Whatever the pitch, the person may sound quite believable. Please, use discernment when attending to these sorts of solicitations.
Once you send money through a transfer, the funds cannot be retrieved. Be wary of any time someone you do not know well is asking you to send money.
Elder fraud involves targeting older adults with false promises of goods, services, or financial benefits that do not exist, were never intended to be provided, or were misrepresented. Scammers will often target elderly people, asking them to send money and then keeping the funds.
If you think you, or someone you care about, have been or might be a victim of any kind of fraud, scam, or elder abuse, or if you observe someone using our online service in an inappropriate or impermissible way, please do not hesitate in contacting us immediately
STATE LICENSING INFORMATION
New Jersey
NJ Department of Banking and Insurance
20 West State Street, PO Box 325, Trenton, NJ 08625
Phone: 609-292-7272 Hotline: 1-800-446-7467
https://www.nj.gov/dobi/index.html
If you receive any fictitious email claiming to be from Transamericas, please forward it to operations@transamericastransfers.com.
The following websites offer more information on how to prevent fraud, scams and elder abuse:
​
fakechecks.org
stopfraud.gov
https://dfpi.ca.gov/preventing-and-reporting-elder-financial-abuse/https://www.fdic.gov/consumers/consumer/news/cnwin1112/elderfraud.html
