Anti Money Laundering Policy
What is money laundering ?
Accepting money as a deposit, earned or received through illegal sources such as crime, prostitution, pilfering by persons with authority, fraud, robbery or terrorism is considered anti-social and probably viewed as helping or encouraging those culprits to continue such activity in the future as well. Knowingly or unknowingly aiding and abating to launder dirty money and mix them with money in circulation is a punishable offense. Tipping off or advising a money launderer to take away dirty money and hide from the law is also a criminal and punishable offense.
How to MBSLanka work against money laundering ?
MBSLanka is firmly committed to effective prevention of Money Laundering and terrorist financing. The basis for prevention of money laundering and terrorist financing is knowledge of the customers, based on satisfactory evidence of the identity of customers; therefore we have established, documented and maintained a customer identification procedure within our business.
Part of our AML procedure, we require one ID proof, Business Proof and one Address proof.
Acceptable forms of ID proofs are;
1.A Valid Passport
2.National Identity Card (NIC)
3.Photo Card Driving Licenses
Acceptable forms of Address proofs are; 1.Bank / Credit Card Statement less than 3 months old (Internet statements are not acceptable)
2.Urban Council tax receipt
3.Utility Bill - Gas / Electricity / Phone less than 3 months old
4.Driving License - New Style
5.National Identity Card
6.Bank's passbook front page
We may ask for evidence of the source of funds, if a need arise based on the volume and pattern of your money transfers.
Accepted forms of Source of Funds are;
2.Loan / Property Sale documents
3.Withdrawal Receipts from the Bank
4.Other documentation that proves where the funds originating from
Customers must comply with these requirements. MBSLanka retains the right to refuse to accept a customer instruction and is under no obligation to enter into a transaction should it choose not to do so.