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  • FC-3.2 FC-3.2 Remittances on Behalf of other Money Transferors

    • FC-3.2.1

      Whenever a licensee uses the services of Authorised Money Transferors to effect the transfer of funds for a customer to a person or organisation in another country, that licensee must, in respect of the amount so transferred, maintain records of:

      (a) The identity of its customer(s) in accordance with Chapters FC-1 and FC-7 of this Module; and
      (b) The exact amount transferred for each such customer (particularly where a single transfer is effected for more than one customer).
      Amended: April 2012
      October 2010

    • FC-3.2.2

      Licensees must be able to produce this information for inspection immediately upon request by the CBB.

      October 2010

    • FC-3.2.3

      Licensees must not transfer funds for customers to a person or organisation in another country by any means other than through an Authorised Money Transferor. Where a licensee is found to be in contravention of this rule, the CBB will not hesitate to impose sanctions upon that licensee (and in serious cases may revoke the license).

      October 2010