ANTI MONEY LAUNDERING AND ANTI FRAUD

 

BKK Forex is a fully licensed remittance and moneychanger company with MAS (Monetary Authority Singapore). We take the issue of Anti-money laundering and fraud seriously. At BKK FOREX, we value our customers and recognize that our customers had worked hard for their money. Hence we are continuously stepping up our efforts to fight money laundering and consumer fraud in co-operation with the concerned authorities to safeguard our customers’ interest.

BKK FOREX do not allow remittance services intend for illegal usage. All such transactions will be stopped immediately. BKK FOREX has a extensive compliance program internally to ensure our compliance with the MAS rules and regulations. It is our policy to adhere to the law and regulations to ensure our customers’ interest.

SOME TIPS TO SAFEGUARD YOUR INTEREST

PROTECT YOURSELF AGAINST POSSIBLE FRAUDS WITH THESE TIPS:

BE WARY WHEN

You are offered a way below normal price purchase for an expensive product. You are informed that you have won a lottery/prize which you don’t remember participating in and you have to pay fees/taxes before collection of your winnings. Someone responding to your ad that they had found your missing pet/item and claiming the shipping/reward offered beforehand. You are offered a low interest load but you must make payment beforehand before the loan amount is given to you. You received a call from someone that your loved one is being kidnapped/ detained or in hospital and asking you for money to be sent to them before they are being released.

YOU MUST

Know the person that you are sending money to. Buy goods and services only from trusted sources Avoid making payment for online purchases via money transfer. Be prudent when transacting with someone for expensive items in a foreign country. Immediately stop any transaction when the buyer/seller coaches you on ways to respond to queries made by BKK. It is a confirmed sign of fraud. Contact the police instantly if you suspect that you are being swindled.

BEAR IN MIND

BKK FOREX is always a great way to send money to whom you trust, not to someone that you do not know. Attempting to send money with a fictitious name will NOT ensure your interests when dealing with strangers. When something is too good to be true, it probably is. And for more information, please go to the MAS moneysense website.

• Choose your remittance agents carefully. Do shop around and be wary of special rates offered.

• Find out how your money will be remitted, including the overseas agents they will be using. Consider both cost (including the commission and exchange rate) and reliability of the bank/remittance agent and the overseas bank/agent.

• Choose remittance agents that have installed adequate security systems (e.g. CCTVs) to provide a secure and safe environment for you to remit your money.

• Bring your personal identification documents for verification purposes.

• Make sure you obtain a proper receipt as proof of transaction in case of dispute. The receipt should include the following information:

-Business particulars of licensed remittance agent
-Date of transaction, amount remitted, exchange rate, commission and other charges
-Your particulars and contact details
-Your beneficiary’s particulars and bank account details, where applicable

• Ask your remittance agent about the recourse available to you, if your beneficiary does not receive your remittance.

• Contact your beneficiary to ensure he has received the money. Check with your remittance agent if there is a delay. Your remittance agent is also expected to contact you for further instructions if the remittance does not reach the beneficiary within 7 days.

• Although remittance agents are required to be licensed, such licensing does not guarantee their performance. Customers take the risk of any loss suffered in dealing with them. Cases involving fraud should be reported to the police.

Credit: MAS Website