At MTFX we work closely with government agencies and bankers to combat the threats of anti-money laundering and terrorist financing. Our compliance program in Canada has been developed around the framework of the proceeds of crime (Money Laundering) and Terrorist Financing Act (“PCMLTFA”). For added control we monitor the Office of Foreign Asset Control (OFAC) guidelines as a means of enhancing our compliance regime.
MTFX is registered with FINTRAC (Registration No. M08042065) and is required to comply strictly with the Proceeds of Crime (Money Laundering) & Terrorist Financing Act and associated regulations.
The prevention of money laundering is a key focus of regulatory authorities in developed countries. Money laundering regulations are designed to inhibit the movement of funds derived from criminal activity and to restrict the availability of money to fund terrorist activities.
MTFX is committed to preventing money laundering through its service and complies strictly with the regulatory requirements including taking such measures as the following:
Monitoring and reporting suspicious transactions.
Maintaining client records for at least seven years.
IDENTIFICATION AND TRANSACTIONAL INFORMATION
MTFX is obliged by legislation to collect identification information from all clients and to verify that information prior to transacting with them. All money transmitters are subject to the same regulations. It is extremely important that you comply promptly and fully with any request we make for identification information, even if it is inconvenient.
MTFX may also require information as to the nature and purpose of the transaction you are proposing to enter into. The amount of information required will depend on the jurisdictions involved, but any such request for transactional information is equally important and will only be made if it is necessary for MTFX to comply with its statutory obligations.
NO CASH OR CHEQUES
In order to reduce the risk that our service could be used for money laundering purposes, we will not accept payment in cash or by cheques. All money received must be remitted to us on a “good funds basis”.
MTFX is obliged to report all suspicious transactions. By using our service for improper purposes, you could expose yourself to criminal prosecution as we are bound to report any suspicion of such activities to the authorities. Examples of suspicious conduct include, but are not limited to:
Breaking a large transaction into smaller transactions to avoid reporting thresholds.
Providing false or misleading contact details.
In order to fulfill any requests, answer any questions or address any concerns about our regulatory and compliance processes, please contact our Chief Anti-Money Laundering Officer by mail, fax or email at the following addresses:
We take compliance seriously. MTFX is registered with the Financial Crimes Enforcement Network (“FinCEN”), which is a bureau of the United States Department of Treasury. Our compliance department is a best-in-class, global Anti-Money Laundering (AML) and Anti-Terrorist Financing (ATF) department. We follow specific guidelines so you can send your money worry free.
MTFX is licensed as a money transmitter by the relevant state regulatory agency in the U.S. states listed below. Residents of certain states may have specific rights related to concerns or complaints about our services.
PERFORMING DUE DILIGENCE
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT — To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: when you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.
COMPLIANCE CUSTOMER SUPPORT
Have questions? Talk to us. MTFX's compliance department is dedicated to providing support and ongoing guidance regarding AML and ATF, as well as our own policies and procedures. If you have questions, please contact us at firstname.lastname@example.org or call 1-800-832-5104.
CUSTOMER COMPLAINTS POLICY
It is the policy of MTFX to deal promptly and professionally with any complaints it might receive from its clients, and to comply with all state and federal laws, regulations and guidelines in the process. MTFX’s customer complaints policy is outlined below and applies to each of the respective states in which MTFX conducts business.
If you are a client of MTFX at 2500 Plaza 5, 25th Floor, Harborside Financial Center, Jersey City, New Jersey, USA, 07311, any complaint or dispute between us must be dealt with in accordance with the following dispute resolution procedure.
If the complaint or dispute cannot be resolved internally by us in accordance with the internal complaints handling procedure set out below, you may refer the matter to the relevant State Banking Department in your state of residence for determination.
INTERNAL COMPLAINTS HANDLING PROCEDURE
Should you have reason to complain, then it is important that you first advise your usual contact in our office. If they are not available, any of our currency specialists will be pleased to help, so please ask to speak to any of our representatives.
If your complaint is not quickly resolved to your satisfaction, you will be advised to refer the matter to our Compliance Officer, in writing, in order for them to conduct their own investigation. The Compliance Officer will investigate the matter fully and provide you with a written response.
We are committed to resolving complaints through our internal complaints procedure.
Please contact the Customer Support Services Department for more information on how complaints are handled by MTFX internally.
DISPUTE RESOLUTION SCHEME
If you are unhappy with the decision of our Complaints Manager or the dispute cannot be resolved under our internal complaints handling procedure, you may formally submit the dispute to the State Banking Department in your state of residence, of which MTFX, is a registered money transmitter licensee (MSB), for determination.
Please note if the matter is in litigation or if a court has made a ruling, the relevant State’s Banking Department will not intervene.
FILE A COMPLAINT
To file a complaint, please contact MTFX before contacting your jurisdiction for a complaint. Listed below are several ways to contact MTFX Customer Service:
After first contacting MTFX, if you still have an unresolved complaint regarding the company's money transmission services, please find the jurisdiction below and direct your complaint to the appropriate contact.
MTFX is in the process of migrating our online dealing system to a newer version which offers more functionality along with an updated look and feel. While we complete our migration, both versions of our online dealing platform will be accessible.