Money Laundering Policy

Money Laundering Prevention

What am I asked to do?

You may find that you are asked to confirm your identity and other personal details. SpartaPay has established special verification systems involving your bank account or smartcard or address details to prove your identity. To safeguard the integrity of our payment system, your SpartaPay account may also be subject to periodic transaction limits depending on your user status.

When?

You could be asked to confirm your identity whether you are applying to be a new customer or have been a customer for some time as period check of our systems. While our identity verification systems are designed to minimise any inconvenience for you, the verification process may take several days to complete.

Why?

Crime and terrorism need cash. No one wants to be a part of this activity willingly or by accident. We try to ensure that you are who you say you are if you intend to use our system regularly. This does not mean in any way that suspicion is falling on you. Any information about your identity is held confidentially and will help stop your identity being used falsely.

Who is involved?

HM Government and all organisations involved in financial services involved in protecting us all against crime and terrorism.

Your co-operation is vital to the successful fight against crime and terrorism.

What the UK law requires:

• We may be required to verify your identity and address.
• We are required to keep full records of all transactions together with identification provided.
• We are required to monitor any unusual or suspicious transactions of any size.

We have a legal obligation to report to the UK National Criminal Intelligence Service (NCIS) any suspicious transaction under our licence as money exchange agents and as issuers of e-money.

Customs & Excise Money Laundering Registration: 12230791