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Compliance
 
Bilex Money Transfer is a licensed Money Service Business (MSB) with her Majesty's custom and Excise. Our MSB number is 12559843.

Bilex Money Transfer establish and implement risk based policies, procedures, and processes to comply with the laws of the UK and those of the jurisdictions in which we operate, as well as, safeguard our operations from money laundering and terrorist financing.

The United Kingdom law requires us to monitor any unusual or suspicious transactions of any size, taking place where we have reasons to believe the money is derived from illegal activity. It also requires us to keep full records of all transactions together with copies of identification provided. Bilex Money Transfer compliance strives to be considered a best in class global Anti-Money Laundering and Anti terrorist Financing compliance department. We are committed to detecting and preventing money laundering and terrorist financing. Consequently, enhanced due diligence is performed on all agents before appointment. All remittances processed by Bilex Money Transfer are screened with enhanced controls to prevent money laundering and terrorist financing. It is our policy to follow both the letter and spirit of the law and regulations. Our policies and procedures comply with laws of the United Kingdom.

Bilex Money allows you to transfer at your convenience; our maximum transaction limits have been set at �650.00. However, we may transfer sums up to � 5000.00 offer a copy of customer identification and proof of address has been received and placed on customer's file. The following is our compliance summary:
  • Bilex Money allows its customers to send at their convenience up to a maximum amount of �650.00 (including commission) without any identification requirements.
  • For any transaction beyond � 650.00 a valid form of Identification will be required. Valid IDs in the United Kingdom are passport, UK driving license, EEA National ID card, and WRS ID card.
  • A Proof of Identification will be required for multiple transactions totalling � 1,000.00 and above.
  • For any transaction equalling � 5,000.00 or beyond, a copy of Customer Identification as well as a Proof of Address will be requisite.
Bilex Money recognises that, as a non bank financial institution, we are at risk of being exploited by money launderers. We fully recognise that we have both civic responsibilities and legal obligations to do all we can to prevent the abuse of our services. Bilex Money has formulated effective policies in order to ensure safe, secure and transparent flow of business, not only for the company itself but also for our customers and country. The company's AML rules and procedure are based on the following key principles:
  • Staff knowledge, awareness and training on regular basis
  • Customer identification (KYC Policy, know your customer)
  • Keeping records of all transactions
  • Reporting of fraudulent and suspicious transactions to SOCA
  • Proper scrutiny of information given by customers.
Our compliance department is dedicated to providing support and ongoing guidance regarding anti money laundering and terrorist financing. If you have any comments, questions, or require guidance or support. Please contact us at info@bilexmoney.com or call 0207 635 4422, 0207 277 8585.

Reporting Procedures?
There is a statutory obligation on all Bilex Money authorized agent and employees to report suspicious transactions to SOCA.

Why am I asked a form of identification?
You may find that you are asked to confirm your identity and other personal details. This is to safeguard the integrity of our system. All information about your identity is held confidentially. This does not mean in any way that suspicion is falling on you.

When?
You could be asked to confirm your identity when you are doing a transaction that is above � 650. The identification may be in the form of a passport, driver's license, EEA National ID card, WRS ID card credit /debit card, bank /credit card statement and utility bill. No transaction will be processed where this information is withheld.

Why?
It is said that Money laundering feeds crime and terrorism. Both acts need cash. Criminals turn the �dirty �cash made from drug trafficking, smuggling, and robbery into clean money by using false identities or taking names of innocent people. Making sure that people are who they say they are is essential in the fight against crime and terrorism.

Who is involved?
HMR & Customs Government and all organisations involved in financial service are united in their determination to stop the spread of financial crime as part of the international effort to crack down on financial crime - protecting us all against crime and terrorism. Bilex Money Transfer is dedicated to providing support and ongoing guidance regarding anti money laundering and anti terrorist financing. We reserve the right to refuse, suspend, delay, or cancel a transaction, which it may feel violates local and international laws. There is a statutory obligation on all Bilex Money transfer authorised agent and employees to report suspicious transactions to the authorising centre. If you have any comments, questions, or require guidance or support please contact us at: info@bilexmoney.com or call us on +44 (0) 207 635 44 22, +44 (0) 207 277 85 85.

All Suspicious Transaction should be reported to SOCA Contact numbers:
  • SOCA - 0207 238 8282
  • SOCA FAX - 0207 238 8286