Money Laundering Statement

The prevention of money laundering is a key focus of regulatory authorities in developed countries around the world. 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.

In accordance with our regulatory obligations, we have strict procedures in place to minimise the risk that our service could be used for money laundering purposes including:

  • Identification of all clients
  • Monitoring and reporting suspicious transfers
  • Maintaining records for at least seven years
  • Training staff to recognise suspicious transfers and to be aware of their reporting obligations

We will not accept you as a client until we are satisfied that you are who you say you are. Furthermore, we reserve the right at any stage to refuse to process your transfer if you fail to provide us with satisfactory information or if information you have provided to us subsequently appears to be misleading, incorrect or false.

We will not ask you to provide any information that is not necessary to satisfy our legal obligations. You should therefore comply with any request for information promptly. Your failure to do so could, in some circumstances, be regarded as suspicious. You should also assume that all information provided to us could be made available to regulatory authorities in both Australia and the other country associated with your transfer of funds.

WARNING: Money laundering is a criminal offence. You should be aware that, by misusing our service, you could expose yourself to criminal prosecution, as we are bound to automatically report such behaviour to the authorities. Examples of misuse include, but are not limited to:

  • Breaking a large transfer into smaller transfers to avoid reporting thresholds
  • Providing false or misleading contact details
  • Providing false identification documents

We do not want your business if the funds you are transferring are sourced from, or are related to, criminal activity.

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Disclaimer - The MoneyGram Money Transfer service is provided in Australia by OzForex Limited (ABN: 65 092-375-703) (trading as "OFX").

IMPORTANT: This information has been prepared for distribution over the internet and without taking into account the investment objectives, financial situation and particular needs of any particular person. OFX makes no recommendations as to the merits of any financial product referred to in this website, emails or its related websites. Please read our Product Disclosure Statement and our Financial Services Guide.

DISCLAIMER: Where information is provided on this website, it has been prepared by OFX without considering the investment objectives, financial situation and particular needs of any person. Before acting on any general advice on this website, you should consider its appropriateness to your circumstances.
This website contains information obtained from sources believed to be reliable and has been prepared in good faith and with all reasonable care. OFX makes no warranty, express or implied, concerning the suitability, completeness, quality or exactness of the information and models provided in this website.
Neither OFX, its related entities, nor MoneyGram Payment Systems, Inc.(“MoneyGram”), and its related entities, nor any of OFX's providers of information, have any liability to the user, or any other third party, for the accuracy of the information or models contained in this website, or for any errors or omissions therein, nor will OFX or any of its providers of information have any liability for the use, interpretation or implementation of the information or models contained herein by any person.
OFX will pay MoneyGram a referral fee, and MoneyGram’s representatives may receive commission in relation to transfers you conduct using the MoneyGram Money Transfer service.
OFX is regulated in Australia by ASIC (AFS Licence number 226 484) © 2015 OzForex Limited ABN 65 092-375-703