We at eSewa money transfer are strict on making sure that our processes meet due diligence and complies with the requirements set by Nepal Rastra Bank (Central Bank of Nepal). We thrive to practice within international guidelines including those set by EU and UN. We aim to be a company that sets the benchmark in the field of remittance to emulate what we do. For this Purpose:
1. We have specific steps to verify customers. Identification is required for each transaction and we continuously research to provide our customer with the best service possible. We also maintain record of each transaction including documents for at least 5 years for audit trial and for furnishing the same to regulating agencies when required.
2. Agents at eSewa money transfer outlet and staff from customer service can ask sender or receiver of money for additional information and documents if those supplied by customers are deemed inadequate.
3. We are fully committed to Anti-Money Laundering and Anti-Terrorist Financing as such we neither take nor dispatch money if the source of such money or the purpose of such money is for any illegal use. We provide our foreign correspondent banks and tie up partners due-diligence information on transactions in line with the guidelines and recommendations of the Financial Action Task Force (FATF) as and when required.
4. We request the customers about the services and nature of business that the customer expects to conduct to avoid suspicious and illegal transactions. We organize regular training programs for our staff regarding the Know Your Customer policies and anti-money laundering awareness.
5. Our system and technology is designed in such a way that it analyzes limits, personnel, monitor transactions, records data, keeps journal entries, throws notifications and reports any suspicious activity to the pre-assigned staff. The system is continuously enhanced to include latest innovation in technology to make transactions secure, efficient and compliant to regulations.
6. We have a compliance department that handles all compliance issues and conducts detailed investigation on suspected transactions internally. Furthermore our agents can directly contact Compliance department to report any suspicious person or transaction. Compliance department can forward potential cases of illegality to Financial Information Unit of Central Bank of Nepal.