|
INTRODUCTION
Advance Money Transfer P Ltd is a money transfer company established in April 2005 under Nepalese Company Act 1996. The company has been serving Nepalese community in different parts of the world by providing a safe, convenient, speedy and economical way of remitting money to Nepal.
The company aims to capture the significant share of the huge annual inward remittance by Nepalese migrants around the worlds. AMT aspires to revolutionize the remittance industry by employing state of art IT Technology.
The company has extensive networks of over 150 branches in Nepal and overseas partners, correspondents in Hong Kong, Israel, Korea, United Kingdom, Malaysia, Australia, USA, UAE, Kuwait, Qatar, Bahrain, and other parts of the world.
We have strategic alliances with Galaxy Network Limited, ARY Speed Remit, Instant Cash, Western Union Money Transfer to serve prime worldwide in the delivery of remittances in Nepal.
AMT remit is an excellent product successfully providing instant cash payment and account credit services to Nepalese Diaspora remitting money to their family and relatives in Nepal. We have been able to extend this unique service to our valued clients covering the entire regions in Nepal.
AMT Group
Nepal's leading service sector company, with an annual turnover of around….. the group is amongst Nepal's leading corporation. It is anchored by highly qualitative and professional of more than 300 employees.
Over the years AMT Group has emerged as a major company with a dominant presence in remittance, banking, and real estate. Advance Money Transfer Pvt Ltd is a wholly owned venture of AMT Group with crystal clear vision and formidable presence in remittance.The Group comprises of companies operating in remittance, banking, aviation, real estate, air ticketing industry.
MANAGEMENT
The AMT Group is leaded by Group chairman Mr Krishna Prasad Gyawali, a young and successful professional. He is the M D of Union Travel and Tours Pvt Ltd, Union Real Estate Pvt Ltd. He is also a director of Kasthamandap Development Bank Ltd.
Mr. Gyawali's envision brings a very successful track record in all his ventures. His management style is innovative to run the organization with best corporate culture.
PRODUCT AND SERVICES
AMT Remit is an online money transfer product developed by the company to facilitate money transfer to Nepal with the uses of state-of – art technology for secured money transfer. We provide all our valued customers a very much quick, secure, reliable and convenient money transfer services. We deliver quality services with minimum service charges comparing to other remittance companies.
To fulfill the requirement of the Nepalese migrants, AMT provides the following services:
Instant Cash Payment:
Money transferred from anywhere in the world can be instantly cashed across more than 250 payout location with in the country. With the use of advance technology and our extensive network coverage, AMT provide a secure way to send and receive money. We make sure that the remittance gets to where it's needed quickly and without any complication.
Account Credit
We can instantly deposit money transferred from any corner of the world to remitters' bank account in Nepal. For this service we have corresponding relations with almost all Nepalese banks and financial institutions.
ANTI MONEY LAUNDERING
Money laundering is the illegal attempt to hide the true source of money. It generally involves money that has been obtained through criminals activity, frequent drug dealing, smuggling, terrorist activities etc. money laundering use a variety of means to launder money so that it is tough to detect.
We at AMT are very much concerned about protecting our services from illegal activities. It is strict AMT policy not to do business with money launders or other criminals. We realize, however, that in many cases institution may not be aware that they are being used by money launders. We therefore provide all of our staff and agents strict guidelines to control and beat money laundering and illegal activities. Our AMLP and procedures are as follows:
- Identification procedure and the concept of Know Your Customer (KYC)
a. Obtain valid identification (ID), proper identification and address with photograph; issued from the local government or authorities.
b. Verify details with origin
c. Full signature of the customer on the form of remittance.
d. Sources and quantum of amount.
- Additional precaution on transactions involving amounts crossing the threshold limit, as per local rules and AMT limit.
a. True copy of original ID is being kept on record after due verification with originals.
b. Purpose of remittance and source of income is mentioned by the customer. This will enables to verify the appropriateness of the transaction.
c. Breaking up of transactions to circumvent the limit restrictions is not allowed. Proper methods are being evolved to detect multiple transactions or split transactions in order to get required information/documents
- Internal Control & Communication
a. Proper procedures have been set up for the staff to have effective control over the activities undertaken
b. The format of the application form fro remittance has been designed to confirm the local regulations and is able to capture all the required data for enabling effective supervision and control.
c. Application forms contain a declaration from the customer certifying the correctness of the data provided by him/her and in case of registered customers any change in the address given is being notified to the agent.
- Record Keeping
a. records are being kept for a minimum period of 5 years.
b. records provide the sufficient basic information on the customer and also able to reconstruct the transaction if needed.
- Appropriate Training to the Staff
a. Staffs have been trained on all matters pertaining to Money Laundering and Terrorist Financing.
b. Training has been given in line with their responsibilities.
- Reporting to Regulatory Authorities
a. There is a proper reporting system in place both within the organization and to the Regulatory Authorities
|
