Compliance

At Samsara Remit Pvt. Ltd., we prioritize the fight against money laundering and comply with all relevant regulations and international standards. We actively cooperate with government agencies in Nepal and have established robust AML/CFT policies in line with the directives of the Central Bank of Nepal.

• Mandatory Customer Due Diligence (CDD) is completed for each transaction. Ensure paid to the right beneficiary.
• While Customer Due Diligence (CDD) is done for every transaction, Enhanced Due Diligence (EDD) is done against transactions which questions verification of submitted documents, sets an alarm of origin country of remittance, frequency and size of transaction.
• For such cases extra information and documents are sought from the beneficiary.

• It is mandatory for all the beneficiary to fill up the KYC form or the payment voucher slip and verify for the AML and future references.
• Any transactions exceeding the limits set by the Central Bank of Nepal i.e. 1Million NPR in a single day and by a single receiver is reported as Threshold transaction reporting.
• Any suspicious transactions for i.e. having multiple sender-single receiver and vice versa, not only that but also the irrelevant Identification documents, no physical presence, not having proper source of income, purpose of remittance, huge volume of transactions in specific person, entity or account are reported as Suspicious Transaction Reporting.
• Other Reporting Factors;- unusual/large transactions, structuring, unclear business purpose, inconsistent customer information, rapid fund movement, illegal activity involvement, and third-party transactions. Compliance officers refer to local regulations and internal policies for reporting requirements.