Dollar East Exchange Company Deals Currency Exchange, Inward / Outward Remittances, Notes, Postal Notes, Money Order, Bank Drafts In A Regulated Environment in Pakistan.


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Anti Money Laundering

KYC POLICY

Know Your Customer

Know Your Customer" (KYC) is a set of guidelines designed for proper identification of an account holder/ customer for scrutiny/ monitoring of large value cash transaction. It aims at preventing financial institutions from being used intentionally or unintentionally by criminal elements for committing financial frauds, transferring or deposits of funds derived from criminal activity. The adoption of ''know your customer'' policy or procedures by Dollar East has proven extremely effective in detecting suspicious activity in a timely manner.

KYC Policy

Dollar East KYC policy is at the heart of anti-money laundering measures adopted by the company. The Company strictly follows all the due diligence policies and procedures of the State Bank to identify the principal before the transaction actually takes place.

Contents of "Know Your Customer"

The policy framework of Dollar East is intended to regulate the operations so as to ensure the flow of only legal money through the remittance channels. We aim to:

		Determine and make out the true identification of each customers seeking to conduct transaction

		Aware of any unusual transaction activity

		In order to prevent the creation of fictitious accounts, implementation of procedures properly

We try to focus on the following key areas in maintaining the KYC policy:

Customer Profile

Dollar East Exchange focuses on correctly profiling the customer in the Remittance application forms covering the following

		Name of the Customer

		Date and place of birth

		Nationality

		Permanent Address

		Telephone Nos. (Res. & Off.)

		Purpose of transaction

		Passport No (if the customer is making a TT, DD or Traveler's Cheques)

		NTN (depend upon the nature of remittance)

		Nature of Business

		Bank Account

Record Retention

We do examine existing policy include procedures for making and maintaining a record of information that includes all required identifying information about a customer to verify identification.

REMITTANCE REPORT

FASCINATING PAKISTAN

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