...Welcome
To UK Money Transmitters Association
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Who we are
The UK Money Transmitters Association (UKMTA)
represents Money Service Businesses registered with HM Revenue and Customs for the purpose of money transfer.
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The Association has developed a programme
of activities to:
Be the representative of the
industry with the UK government and the European Union – in particular, to
ensure that the voice of smaller and medium sized money transfer companies is
heard
Engage in dialogue with the
regulator to ensure that the 2007 Money Laundering Regulations and EU Payments
Regulation are fairly and consistently applied
Establish and promote shared high
standards across the money transfer industry and to establish a voluntary
industry wide ‘quality mark’ (the Remittances Customer Charter)
Establish an effective dialogue
with the UK banks to ensure that they behave reasonably in their relations with
money transmitters
Establish and promote ‘best
practice’ models in connection with issues such as effective customer ID checks,
training systems and procedures, suspicious transaction reporting, record
keeping, audit trails, etc.
Provide training, information and
support to money transmitters to help them comply with the AML regulations
Publish a regular newsletter
with information relevant to money transmitters: guidance on AML issues, news
from HMRC, new technology solutions, employment opportunities, etc
Hold quarterly open members
meetings at which those with an interest in money transfer can come together to
discuss issues of common concern.
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