By law, Moneytun has implemented an Anti-Money Laundering Policy.  Arthur Avetisian is fully responsible for Moneytun’s compliance program and has been designated as the Anti-Money Laundering Policy Compliance Officer.  The Compliance Officer is responsible for ensuring that this anti-money laundering policy is effectively carried out.  This requires that a periodic review be conducted on the quality of the Compliance Program.

According to US federal law, “Money laundering is the attempt to conceal or disguise the nature, location, source, ownership or control of money.”  The US federal government provides strict laws and regulations to prevent money-laundering activities.  To ensure that no money laundering activities are taking place through their money transfer service, Moneytun has implemented numerous filtration operations in order to identify and rectify any suspicious activity in their system including: 

• Customer profiling
• “Know Your Customer” program
• Customer ID programs

To assist in complying with all government regulations, Moneytun has also integrated with the Office of Foreign Assets Control filtration services for all transactions.   

Fraud Prevention Tips

Money transfers are a fast and easy way to send money, but they can also be used by criminals to coerce unsuspecting individuals into committing fraud.  Once money has been paid out through a money transfer, it cannot be returned.  Most criminals will pick up the money order as soon as it arrives as well to ensure this.  Be suspicious of any money order request that requires that you deposit funds into your bank account and then send an additional money order to a person you do not know.  It may take a long period of time for the original money order to clear and if it bounces, you will lose any money that has been sent elsewhere.  There are several scams that work in this manner.  Sending money to strangers is dangerous and it is always wise to ensure that you are sending money to a person you know and trust.