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Hadassah Transfer (www.hadassahtransfer.com) is a Registered Money Service Business with The Financial Transactions & Reports Analysis Centre of Canada (Fintrac). This is Hadassah Transfer policy to comply with all government regulations at all times. As a Money Service Business, Hadassah Transfer is subject to the following Fintrac’s regulations:
1. Reporting
We are required to report the following types of transactions to Fintrac:
2. Record Keeping
We are required to keep all client, transaction, and corporate records for a minimum of 5 years.
3. Ascertaining Identity
We are required to collect and verify your identification for remittances of $1,000 and more.
4. Politically Exposed Foreign Person (PEFP)
For remittances over $100,000 or more, we are required to make PEFP determination.
5. Third Party Determination
If you are conducting a transaction on behalf of someone else, we are required to obtain information about both parties: you and the person on whose behalf you are conducting the transaction.
6. Compliance Regime
We are required to maintain a compliance program containing adequate policies and procedures in accordance with the FINTRAC regulations.
For more information, refer to FINTRAC website: http://fintrac-canafe.gc.ca/msb-esm/intro-eng.asp
We take the following additional measures to prevent money laundering and terrorist financing:
1. Scanning Against the Osfi & Ofac Watch List
It is our policy to check each transaction against the OSFI and OFAC watch lists. Any matched names are subject to further review by the compliance officer.
2. Transaction Monitoring
We have adequate controls pertaining to the transaction activity at several instances of the life cycle of a transaction. These controls include: