The BA Express USA Inc CORP. ("BA Express USA Incexpress.com") is a *licensed money service business with the New York state department of financial services. We are also a registered money service business with the Financial Crimes Enforcement Network (FINCEN).
This is our policy to comply with all government regulations at all times. As a money service business, we are subject to the following regulations:
We are required to report the following types of transactions to the authorities:
Suspicious Activity (SAR)
Currency Transactions (CTR)
We are required to keep all client, transaction and corporate records for a minimum of 6 years.
We are required to collect and verify your identification for remittances of $2,500 and more.
We are required to make PEP determination for transactions that have any ties to politically exposed persons.
If you are conducting a transaction on someone else's behalf, we are required to obtain information on the both
parties: you and the person on whose behalf you are conducting the transaction.
We are required to maintain a compliance program containing adequate policies and procedures in accordance with the applicable regulations.
For more information, refer to FINCEN Website:
ADDITIONAL MEASURES WE TAKE TO PREVENT MONEY LAUNDERING AND TERRORIST FINANCING
WE TAKE THE FOLLOWING ADDITIONAL MEASURES TO PREVENT MONEY LAUNDERING AND TERRORIST FINANCING:
It is our policy to check each transaction against the HM Treasury watch list. Any matched names are subject to further review by the compliance officer.
We have adequate controls pertaining to the transaction activity at several instances of the life cycle of a transaction.
These controls include: