Roar Money is fully committed to fulfilling its obligations under the Money Laundering Regulations 2017, the Proceeds of Crime Act 2002, the Terrorism Act 2000 and other relevant legislation, for the purposes of combatting money laundering and terrorist financing.
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.
Roar Money carries out client verification checks at the stage of client take on and on an ongoing basis, as well as seeking to establish, where appropriate, the source of wealth and source of funds used in transactions in which we are involved.
Procedures and policies are in place to ensure compliance with the relevant legislation. Roar Money’ staff and partners are trained in how to comply with the legislation and we may refuse business if we have concerns.
Roar Money is committed to prevent money laundering through its service and complies strictly with the regulatory requirements including taking such measures as the following.
Monitoring and reporting suspicious transactions.
Maintaining client records for at least seven years.
Identification and Transactional Information
ROAR MONEY is obliged by legislation to collect identification information from all clients and to verify that information prior to transacting with them. All money transections are subject to the same regulations. It is extremely important that you comply promptly and fully with any request we make for identification information, even if it is inconvenient. ROAR MONEY may also require information as to the nature and purpose of the transaction you are proposing to enter into. The amount of information required will depend on the jurisdictions involved, but any such request for transactional information is equally important and will only be made if it is necessary for ROAR MONEY to comply with its regulatory obligations.
Use of Identification Obligation
You should assume that all information provided to ROAR MONEY could be made available to regulatory authorities in both the country of origin of the funds and in the country to which the funds are being sent to obtain products & services of ROAR MONEY.
No Cash or Credit Cards
In order to reduce the risk that our service could be used for money laundering purposes, we will not accept payment in cash, by cheque, by credit card and by cryptocurrency. All money is received and remitted by us by electronic means only.
Right to Refuse to Process a Transaction
ROAR MONEY reserves the right to refuse to accept you as a client or to refuse to process any transaction at any stage of our relationship if we have reason to believe that information you have provided to us is false or misleading or that a proposed transfer may be connected in some way with an illegal activity.
ROAR MONEY is obliged to report all suspicious transactions. By using our service for improper purposes, you could expose yourself to criminal prosecution as we are bound to report any suspicion of such activities to the authorities. Examples of suspicious conduct include, but are not limited to:
Breaking a large transaction into smaller transactions to avoid reporting thresholds.
Providing false or misleading contact details.
Providing false identification documents.
Our confidentiality obligations are subject to a statutory exception: recent United Kingdom legislation on money laundering and terrorist financing has placed us under a legal duty in certain circumstances to disclose information to the National Crime Agency. Where a company knows or suspects that a transaction on behalf of a client involves money laundering or terrorist financing, the company may be required to make a money laundering disclosure. If, while you are our client, it becomes necessary to make a money laundering disclosure, we may not be able to inform you that a disclosure has been made or of the reasons for it because the law prohibits 'tipping-off'. Where the law permits us, we will tell you about any potential money laundering problem and explain what action may need to be taken.
ROAR MONEY does not want your business if the funds are sourced from criminal activity or the nature of the transaction is illegal in any way.