IRA, its management and Board of Directors are committed to preventing and deterring the use of the company’s money transfer services for any unlawful purpose.

To that end, IRA has designed and implemented compliance policies and procedures designed to impede, detect and report attempted use of its money transfer services for any illicit purpose, such as money laundering or the financing of terrorism. IRA anti-money laundering and anti-terrorism financing compliance program meets and exceeds all requirements of the laws of the United States and other jurisdictions in which we operate. IRA collaborates with our correspondents abroad and with the relevant authorities in the prevention, reporting and punishment of crimes. Any money transfer made with IRA is subject to the enhanced controls of IRA’ compliance program. 

IRA maintains written policy manuals concerning compliance and regulation, as well as related training materials for use with new agents and employees.

The company has a full-time compliance officer and staff that provide compliance coverage on all shifts. Compliance monitoring is constant and those responsible for compliance must certify that they have reviewed and acted upon all hold orders flagged on their watch. A monthly compliance report, is used as a regular internal compliance control. An external compliance audit is conducted on an annual basis. The compliance auditor also reviews the internal monthly compliance reports produced during the year. Finally, state regulators and the Internal Revenue Service conduct Anti-Money Laundering Compliance reviews approximately every two years.

For comments or questions regarding IRA’ compliance policy and procedures contact us at compliance@iramalaysia.com