“Money laundering is the attempt to conceal or disguise the nature, location, source, ownership, or control of Illegally obtained money."
The Federal government, using the Bank Secrecy Act and the Money Laundering Control Act, has written strict laws and regulation to help prevent money-laundering activities. The law requires us, amongst other things, to monitor and report any unusual or suspicious transaction of any size taking place where we have reasons to believe the money is derived from illegal activity. We have a legal obligation to report such suspicious transactions.
Also the U.S. economic sanctions and trade programs that are administered by the Office of Foreign Assets Control, also known as OFAC prohibit us from doing business with certain governments, as well as individuals who have been identified by OFAC as terrorists, drug traffickers or other specially designated persons.
To effectively prevent our system from being used for money laundering, we have to ask our customers for their understanding and cooperation to ensure integrity of our services.
We do not want Royal Ark Foreign Exchange Bureau Ltd’s services used in illegal money laundering activities, therefore, we reserve the right at all times to refuse to process any transfers at any stage, which we believe in our sole discretion, is connected to money laundering activity or other unlawful purpose. Our services are solely designed to move legitimate money from legitimate customers for legitimate purposes.